Advanced High Strength Steel Market Set to Deliver Major Revenue Shares during 2019 to 2029
Verfasser: ashwani_kailiya on Tuesday, 11 February 2020Global advanced high strength steel market players need to seize opportunities created by regulations that prioritize light weighting and fuel efficiency, according to a new study by Fact.MR. According to the study, advanced high strength steel market will grow at over 10% annually, and reach nearly USD 30 billion in revenues by 2029.
"Car manufactures around the globe are embracing advanced high strength steel. The advantage of having added safety without adding significant costs to the bottom-line, has made advanced high strength steel sought-after among carmakers," says the Fact.MR report.
Advanced High Strength Steel Market: Key Findings
- China and India will drive demand for advanced high strength steel, driving heightened market activity in Asia Pacific
- Stringency in regulations in EU5 will create demand for lightweight materials, thereby benefitting the advanced high strength steel industry
- Dual phase (DP) will remain the preferred advanced high strength steel type, despite growing popularity of Transformation-induced plasticity (TRIP)
- In a bid to replace high cost solutions, 3rd generation AHSS will capture larger profit pools on back of its high tensile strength properties and cost-effectiveness
AHSS Market: Key Driving Factors