NEW YORK, Nov. 22, 2017 /PRNewswire/ --
"The ultra-high strength steel market is projected to reach
USD 11.35 billion by 2022."
Read the full report:
https://www.reportlinker.com/p05210109
The ultra-high strength steel market is estimated to be
USD 7.96 billion in 2017 and is
projected to reach USD 11.35 billion
by 2022, at a CAGR of 7.35% from 2017 to 2022. The high consumption
of ultra-high strength steels in the automotive and aerospace &
defense industries is one of the most significant factors driving
the growth of the market. In addition, technological advancements
in the field of structural steels have resulted in the development
of advanced steel grades, which, in turn, have provided lucrative
growth opportunities to manufacturers of ultra-high strength
steels. However, the high production cost of ultra-high strength
steels is restraining the growth of the ultra-high strength steel
market.
"Based on end-use industry, the automotive segment is projected
to lead the ultra-high strength steel market from 2017 to
2022."
Based on end-use industry, the automotive segment is expected to
lead the ultra-high strength steel market during the forecast
period. The increasing use of ultra-high strength steels to develop
structural and safety-related components of automobiles is driving
the growth of the market in the automotive industry. In addition,
automobile manufacturers prefer the use of ultra-high strength
steels as compared to aluminum and plastics, owing to the
exceptional properties of these steel grades such as high
weldability, high strength, and improved fatigue resistance.
"The ultra-high strength steel market in Asia Pacific is projected to grow at the
highest CAGR from 2017 to 2022."
The ultra-high strength steel market in Asia Pacific is projected to grow at the
highest CAGR from 2017 to 2022. Asia
Pacific is the largest consumer of ultra-high strength
steels. Steel manufacturers in the Asia
Pacific region are increasingly investing in the development
of advanced ultra-high strength steel grades. Furthermore,
established steel manufacturers are planning to undergo capacity
expansions to cater to the rising demand for ultra-high strength
steels from various end-use industries, such as automotive and
shipbuilding.
Breakdown of profiles of primary participants:
• By Company Type: Tier 1 – 21%, Tier 2 – 36%, and Tier 3 – 43%
• By Designation: C-Level – 24%, Director-Level – 42%, and Others –
34%
• By Region: North America – 20%,
Europe – 18%, Asia Pacific – 50%, South America – 7%, and Middle East & Africa – 5%
Major companies profiled in this report include
The United States Steel Corporation (US), ArcelorMittal
(Luxembourg), Schuler Group
(Germany), SAIL (India), China Baowu Steel Group Corp.
(China), POSCO (South Korea), Tata
Steel (India), JSW Steel
(India), Voestalpine Group
(Austria), Nippon Steel &
Sumitomo Metal Corporation (Japan), Kobe
Steel (Japan), China Steel
Corporation (Taiwan), JFE Steel
(Japan), Essar Steel (Mumbai), Novolipetsk Steel (Russia), Angang Steel Company Limited
(China), Nucor Corporation (US),
Gerdau S.A. (Brazil), AK Steel
Holding Corporation (US), Hyundai Steel Co., Ltd. (South Korea), Usiminas (Brazil), Hebei Puyang Iron and Steel Co., Ltd.
(China), and Shougang Corporation
(China).
Research Coverage
This report offers an overview of key market dynamics such as
drivers, restraints, opportunities, and challenges impacting the
growth of the ultra-high strength steel market. It also provides a
detailed overview of the market across 5 regions, namely,
Asia Pacific, Europe, North
America, the Middle East
& Africa, and South America. The report categorizes the
ultra-high strength steel market on the basis of type, end-use
industry, and region. A detailed analysis of leading players, along
with key growth strategies adopted by them, is also covered in the
report.
Reasons to Buy the Report
This report covers the following key aspects:
• What will be the size of the ultra-high strength steel market by
2022 and what will be the growth rate of the ultra-high strength
steel market during the forecast period (2017-2022)?
• What are the key market trends?
• What are the factors expected to drive the growth of the
ultra-high strength steel market during the forecast period?
• What are the challenges that impact the growth of the ultra-high
strength steel market during the forecast period?
• Who are the key players in the ultra-high strength steel
market?
• The global report covers key regions such as North America, Europe, and Asia
Pacific, including major countries, such as the US,
China, India, Russia, and Germany.
Read the full report: https://www.reportlinker.com/p05210109
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