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High Strength Steel Market Size, Share & Trends Analysis Report by Product (High Strength Low Alloy, Dual Phase), by Application (Automotive, Construction, Aviation & Marine, Mining), and Segment Forecasts, 2018 - 2025

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  • March 2018
  • Region: Global
  • Grand View Research
  • ID: 4538743
Description Jump to:
The global high strength steel market size is projected to reach USD 27.9 billion by 2025, exhibiting a CAGR of 6.9% during the forecast period. Increasing demand from construction and automotive industries is the chief factor driving market growth.

Some of the major competitors in the market are carrying out active R&D investments in the high strength steel field to improve product scope and stay competitive in the industry. Key players are emphasizing on manufacturing high strength steel that is durable and has a wide application scope. Competition among manufacturers is intense as they have similar product portfolios and cater to similar end-use industries.

The governments in developed and developing economies have imposed stringent regulations on automotive manufacturers to meet crash safety requirements. Reduction in weight of vehicles using high strength steel has enable them to achieve these safety requirements. Ideal weldability, formability, and joinability of high strength steel has resulted in a fast-paced penetration of the material in automotive industry. The factors that have driven the use of high strength steel in automotive includes safety, fuel efficiency, durability, and environmental concerns.

Asia Pacific was the largest market for high strength steel in 2016, and this trend is expected to continue over the forecast period. Growth of construction and automotive industries in India and China is expected to drive product demand in the region. In addition, increase in disposable incomes and rising demand for passenger cars, apartments, and houses are expected to positively impact product demand.

High strength steel is used to manufacture construction and earth moving equipment, quarrying equipment, and fork lift trucks. Various grades of high strength steel are used in truck beds, hoppers, buckets, chutes, crushers, and conveyor troughs. Other applications of high strength steel include use in trash truck bottoms, concrete mixer drums, bucket lips, dump trailers, and street sweepers.

Further key findings from the report suggest:
  • In terms of volume, the global demand for High Strength Low Alloy (HSLs) steel is anticipated to reach 18,518.8 kilotons by 2025, at a CAGR of 5.9% from 2017 to 2025

  • In terms of revenue, the construction segment is projected to ascend at a CAGR of 10.2% over the forecast period

  • The automotive application segment dominated the market in terms of revenue, with a market share of 86.3% in 2016

  • The U.S. high strength steel market is anticipated to exceed 8,820.6 kilotons by 2025

  • The market for high strength steel is highly competitive with the presence of a number of multinational companies with massive product portfolios

  • Some of the key companies present in the market are ArcelorMittal S.A., Tata Steel, United States Steel Corporation, Voestalpine AG, POSCO Co., Ltd, SSAB, ThyssenKrupp AG, Ansteel Group Corporation, AK Steel Corporation, and Nucor Corporation.


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Table of Contents

Chapter 1 Methodology and Scope
1.1 Research methodology
1.2 Research scope & assumptions
1.3 List of data sources
Chapter 2 Executive Summary
2.1 Market snapshot
Chapter 3 Market Variables, Trends, and Scope
3.1 Market segmentation & scope
3.2 High Strength Steel - Value chain analysis
3.3 High strength steel market - Raw material outlook
3.3.1 Iron ore
3.3.2 Manganese
3.3.3 Microalloying elements
3.4 Regulatory Framework
3.4.1 High Strength Steel
3.5 Technology overview
3.6 High Strength Steel - Market dynamics
3.6.1 Market driver analysis
3.6.1.1 Growing demand from automotive industry
3.6.1.1 Environmental sustainability of high strength steel
3.6.2 Market restraint analysis
3.6.2.1 Capital intensive market due to high cost
3.6.3 Porter’s Five Forces analysis
3.6.3.1 Threat of new entrants
3.6.3.2 Bargaining power of suppliers
3.6.3.3 Bargaining power of buyers
3.6.3.4 Threat of substitutes
3.6.3.5 Intensity of competitive rivalry
3.7 High Strength Steel PESTEL Analysis
Chapter 4 High Strength Steel Market: Product Estimates & Trend Analysis
4.1 Product Movement Analysis & Market Share, 2016 & 2025
4.2 High strength low alloy steel (HSLA)
4.2.1 Global high-strength low-alloy steel market estimate and forecasts, 2014 - 2025 (Kilotons) (USD Million)
4.3 Dual phase
4.3.1 Global dual phase steel market estimate and forecasts, 2014 - 2025 (Kilotons) (USD Million)
4.4 Transformation Inducted Plasticity (TRIP):
4.4.1 Global TRIP steel market estimate and forecasts, 2014 - 2025 (Kilotons) (USD Million)
4.5 Bake hardenable (BH)
4.5.1 Global bake-hardenable steel market estimate and forecasts, 2014 - 2025 (Kilotons) (USD Million)
4.6 Martensitic
4.6.1 Global martensitic steel market estimate and forecasts, 2014 - 2025 (Kilotons) (USD Million)
4.7 Others
4.7.1 Global other high strength steel market estimate and forecasts, 2014 - 2025 (Kilotons) (USD Million)
Chapter 5 High Strength Steel Market: Application Estimates & Trend Analysis
5.1 Application Movement Analysis & Market Share, 2016 & 2025
5.2 Automotive
5.2.1 Market estimate and forecasts in automotive, 2014 - 2025 (Kilotons) (USD Million)
5.3 Construction
5.3.1 Market estimate and forecasts, in construction, 2014 - 2025 (Kilotons) (USD Million)
5.4 Mining equipment
5.4.1 Market estimate and forecasts, in mining equipment, 2014 - 2025 (Kilotons) (USD Million)
5.5 Aviation & Marine
5.5.1 Market estimate and forecasts, in aviation & marine, 2014 - 2025 (Kilotons) (USD Million)
5.6 Others
5.6.1 Market estimate and forecasts, in other industries, 2014 - 2025 (Kilotons) (USD Million)
Chapter 6 High Strength Steel Market: Regional Estimates & Trend Analysis, by Product and Application
6.1 Regional Movement Analysis & Market Share, 2016 & 2025
6.1.1 Market estimates and forecast, 2014 - 2025 (Kilotons) (USD Million)
6.1.2 Market estimates and forecast, by region, 2014 - 2025 (Kilotons) (USD Million)
6.2 North America
6.2.1 Market estimates and forecast, 2014 - 2025 (Kilotons) (USD Million)
6.2.2 Market estimates and forecast, by product, 2014 - 2025 (Kilotons) (USD Million)
6.2.3 Market estimates and forecast, by application, 2014 - 2025 (Kilotons) (USD Million)
6.2.4 U.S.
6.2.4.1 Market estimates and forecast, 2014 - 2025 (Kilotons)(USD Million)
6.2.4.2 Market estimates and forecast, by product, 2014 - 2025 (Kilotons) (USD Million)
6.2.4.3 Market estimates and forecast, by application, 2014 - 2025 (Kilotons) (USD Million)
6.3 Europe
6.3.1 Market estimates and forecast, 2014 - 2025 (Kilotons) (USD Million)
6.3.2 Market estimates and forecast, by product, 2014 - 2025 (Kilotons) (USD Million)
6.3.3 Market estimates and forecast, by application, 2014 - 2025 (Kilotons) (USD Million)
6.3.4 U.K.
6.3.4.1 Market estimates and forecast, 2014 - 2025 (Kilotons)(USD Million)
6.3.4.2 Market estimates and forecast, by product, 2014 - 2025 (Kilotons) (USD Million)
6.3.4.3 Market estimates and forecast, by application, 2014 - 2025 (Kilotons) (USD Million)
6.3.5 Germany
6.3.5.1 Market estimates and forecast, 2014 - 2025 (Kilotons)(USD Million)
6.3.5.2 Market estimates and forecast, by product, 2014 - 2025 (Kilotons) (USD Million)
6.3.5.3 Market estimates and forecast, by application, 2014 - 2025 (Kilotons) (USD Million)
6.4 Asia Pacific
6.4.1 Market estimates and forecast, 2014 - 2025 (Kilotons) (USD Million)
6.4.2 Market estimates and forecast, by product, 2014 - 2025 (Kilotons) (USD Million)
6.4.3 Market estimates and forecast, by application, 2014 - 2025 (Kilotons) (USD Million)
6.4.4 China
6.4.4.1 Market estimates and forecast, 2014 - 2025 (Kilotons)(USD Million)
6.4.4.2 Market estimates and forecast, by product, 2014 - 2025 (Kilotons) (USD Million)
6.4.4.3 Market estimates and forecast, by application, 2014 - 2025 (Kilotons) (USD Million)
6.4.5 India
6.4.5.1 Market estimates and forecast, 2014 - 2025 (Kilotons)(USD Million)
6.4.5.2 Market estimates and forecast, by product, 2014 - 2025 (Kilotons) (USD Million)
6.4.5.3 Market estimates and forecast, by application, 2014 - 2025 (Kilotons) (USD Million)
6.5 Central & South America
6.5.1 Market estimates and forecast, 2014 - 2025 (Kilotons) (USD Million)
6.5.2 Market estimates and forecast, by product, 2014 - 2025 (Kilotons) (USD Million)
6.5.3 Market estimates and forecast, by application, 2014 - 2025 (Kilotons) (USD Million)
6.5.4 Brazil
6.5.4.1 Market estimates and forecast, 2014 - 2025 (Kilotons)(USD Million)
6.5.4.2 Market estimates and forecast, by product, 2014 - 2025 (Kilotons) (USD Million)
6.5.4.3 Market estimates and forecast, by application, 2014 - 2025 (Kilotons) (USD Million)
6.6 Middle East & Africa
6.6.1 Market estimates and forecast, 2014 - 2025 (Kilotons) (USD Million)
6.6.2 Market estimates and forecast, by product, 2014 - 2025 (Kilotons) (USD Million)
6.6.3 Market estimates and forecast, by application, 2014 - 2025 (Kilotons) (USD Million)
6.6.4 Saudi Arabia
6.6.4.1 Market estimates and forecast, 2014 - 2025 (Kilotons)(USD Million)
6.6.4.2 Market estimates and forecast, by product, 2014 - 2025 (Kilotons) (USD Million)
6.6.4.3 Market estimates and forecast, by application, 2014 - 2025 (Kilotons) (USD Million)
Chapter 7 Competitive Landscape
7.1 Vendor landscape
7.2 Competitive environment
7.3 Company market positioning
7.4 Strategic framework
Chapter 8 Company Profiles
8.1 Bohler-Uddeholm Corp.
8.1.1 Company overview
8.1.2 Financial performance
8.1.3 Product benchmarking
8.2 ArcelorMittal S.A.
8.2.1 Company overview
8.2.2 Financial performance
8.2.3 Product benchmarking
8.2.4 Strategic initiatives
8.3 The United States Steel Corporation
8.3.1 Company overview
8.3.2 Financial performance
8.3.3 Product benchmarking
8.3.4 Strategic initiatives
8.4 Voestalpine AG
8.4.1 Company overview
8.4.2 Financial performance
8.4.3 Product benchmarking
8.4.4 Strategic initiatives
8.5 ThyssenKrupp AG
8.5.1 Company overview
8.5.2 Financial performance
8.5.3 Product benchmarking
8.6 Ansteel Group Corporation
8.6.1 Company overview
8.6.2 Financial performance
8.6.3 Product benchmarking
8.6.4 Strategic initiatives
8.7 POSCO Co., Ltd
8.7.1 Company overview
8.7.2 Financial performance
8.7.3 Product benchmarking
8.7.4 Strategic initiatives
8.8 Nucor Corporation
8.8.1 Company overview
8.8.2 Financial performance
8.8.3 Product benchmarking
8.8.4 Strategic initiatives
8.9 SSAB
8.9.1 Company overview
8.9.2 Financial performance
8.9.3 Product benchmarking
8.9.4 Strategic initiatives
8.10 AK Steel Holding Corporation
8.10.1 Company overview
8.10.2 Financial performance
8.10.3 Product benchmarking
8.10.4 Strategic initiatives
8.11 Tata Steel
8.11.1 Company overview
8.11.2 Financial performance
8.11.3 Product benchmarking
8.11.4 Strategic initiatives
8.12 China Baowu Steel Group
8.12.1 Company overview
8.12.2 Financial performance
8.12.3 Product benchmarking
8.12.4 Strategic initiatives
8.13 JFE Steel Corporation
8.13.1 Company overview
8.13.2 Financial performance
8.13.3 Product benchmarking
8.13.4 Strategic initiatives
8.14 JSW Steel
8.14.1 Company overview
8.14.2 Financial performance
8.14.3 Product benchmarking
8.15 Novolipetsk Steel (NLMK)
8.15.1 Company overview
8.15.2 Financial performance
8.15.3 Product benchmarking
8.15.4 Strategic initiatives
List of Tables
Table 1 High Strength Steel - Key market driver analysis
Table 2 High Strength Steel - Key market restraint analysis
Table 3 Global high-strength low-alloy steel market estimate and forecasts, 2014 - 2025 (Kilotons) (USD Million)
Table 4 Global dual phase steel market estimate and forecasts, 2014 - 2025 (Kilotons) (USD Million)
Table 5 Global TRIP steel market estimate and forecasts in fluoride adsorbent application, 2014 - 2025 (Kilotons) (USD Million)
Table 6 Global bake-hardenable steel market estimate and forecasts in fluoride adsorbent application, 2014 - 2025 (Kilotons) (USD Million)
Table 7 Global martensitic steel market estimate and forecasts in fluoride adsorbent application, 2014 - 2025 (Kilotons) (USD Million)
Table 8 Global other high strength steel market estimate and forecasts in fluoride adsorbent application, 2014 - 2025 (Kilotons) (USD Million)
Table 9 Global high strength steel market estimate and forecasts in automotive, 2014 - 2025 (Kilotons) (USD Million)
Table 10 Global high strength steel market estimate and forecasts, in construction, 2014 - 2025 (Kilotons) (USD Million)
Table 11 Global high strength steel market estimate and forecasts, in mining equipment, 2014 - 2025 (Kilotons) (USD Million)
Table 12 Global high strength steel market estimate and forecasts, in aviation &marine, 2014 - 2025 (Kilotons) (USD Million)
Table 13 Global high strength steel market estimate and forecasts, in other industries, 2014 - 2025 (Kilotons) (USD Million)
Table 14 Global high strength steel market estimates and forecasts, 2014 - 2025 (Kilotons) (USD Million)
Table 15 Global high strength steel market volume, by region, 2014 - 2025 (Kilotons)
Table 16 Global high strength steel market revenue, by region, 2014 - 2025 (USD Million)
Table 17 North America high strength steel market estimates and forecast, 2014 - 2025 (Kilotons) (USD Million)
Table 18 North America high strength steel market volume, by product, 2014 - 2025 (Kilotons)
Table 19 North America high strength steel market revenue, by product, 2014 - 2025 (USD Million)
Table 20 North America high strength steel market volume, by application, 2014 - 2025 (Kilotons)
Table 21 North America high strength steel market revenue, by application, 2014 - 2025 (USD Million)
Table 22 U.S. high strength steel market estimates and forecast, 2014 - 2025 (Kilotons)(USD Million)
Table 23 U.S. high strength steel market volume, by product, 2014 - 2025 (Kilotons)
Table 24 U.S. high strength steel market revenue, by product, 2014 - 2025 (USD Million)
Table 25 U.S. high strength steel market volume, by application, 2014 - 2025 (Kilotons)
Table 26 U.S. high strength steel market revenue, by application, 2014 - 2025 (USD Million)
Table 27 Europe high strength steel market estimates and forecast, 2014 - 2025 (Kilotons) (USD Million)
Table 28 Europe high strength steel market volume, by product, 2014 - 2025 (Kilotons)
Table 29 Europe high strength steel market revenue, by product, 2014 - 2025 (USD Million)
Table 30 Europe high strength steel market volume, by application, 2014 - 2025 (Kilotons)
Table 31 Europe high strength steel market revenue, by application, 2014 - 2025 (USD Million)
Table 32 U.K. high strength steel market estimates and forecast, 2014 - 2025 (Kilotons)(USD Million)
Table 33 U.K. high strength steel market volume, by product, 2014 - 2025 (Kilotons)
Table 34 U.K. high strength steel market revenue, by product, 2014 - 2025 (USD Million)
Table 35 U.K. high strength steel market volume, by application, 2014 - 2025 (Kilotons)
Table 36 U.K. high strength steel market revenue, by application, 2014 - 2025 (USD Million)
Table 37 Germany high strength steel market estimates and forecast, 2014 - 2025 (Kilotons)(USD Million)
Table 38 Germany high strength steel market volume, by product, 2014 - 2025 (Kilotons)
Table 39 Germany high strength steel market revenue, by product, 2014 - 2025 (USD Million)
Table 40 Germany high strength steel market volume, by application, 2014 - 2025 (Kilotons)
Table 41 Germany high strength steel market revenue, by application, 2014 - 2025 (USD Million)
Table 42 Asia Pacific high strength steel market estimates and forecast, 2014 - 2025 (Kilotons) (USD Million)
Table 43 Asia Pacific high strength steel market volume, by product, 2014 - 2025 (Kilotons)
Table 44 Asia Pacific high strength steel market revenue, by product, 2014 - 2025 (USD Million)
Table 45 Asia Pacific high strength steel market volume, by application, 2014 - 2025 (Kilotons)
Table 46 Asia Pacific high strength steel market revenue, by application, 2014 - 2025 (USD Million)
Table 47 China high strength steel market estimates and forecast, 2014 - 2025 (Kilotons)(USD Million)
Table 48 China high strength steel market volume, by product, 2014 - 2025 (Kilotons)
Table 49 China high strength steel market revenue, by product, 2014 - 2025 (USD Million)
Table 50 China high strength steel market volume, by application, 2014 - 2025 (Kilotons)
Table 51 China high strength steel market revenue, by application, 2014 - 2025 (USD Million)
Table 52 India high strength steel market estimates and forecast, 2014 - 2025 (Kilotons)(USD Million)
Table 53 India high strength steel market volume, by product, 2014 - 2025 (Kilotons)
Table 54 India high strength steel market revenue, by product, 2014 - 2025 (USD Million)
Table 55 India high strength steel market volume, by application, 2014 - 2025 (Kilotons)
Table 56 India high strength steel market revenue, by application, 2014 - 2025 (USD Million)
Table 57 Central & South America high strength steel market estimates and forecast, 2014 - 2025 (Kilotons) (USD Million)
Table 58 Central & South America high strength steel market volume, by product, 2014 - 2025 (Kilotons)
Table 59 Central & South America high strength steel market revenue, by product, 2014 - 2025 (USD Million)
Table 60 Central & South America high strength steel market volume, by application, 2014 - 2025 (Kilotons)
Table 61 Central & South America high strength steel market revenue, by application, 2014 - 2025 (USD Million)
Table 62 Brazil high strength steel market estimates and forecast, 2014 - 2025 (Kilotons)(USD Million)
Table 63 Brazil high strength steel market volume, by product, 2014 - 2025 (Kilotons)
Table 64 Brazil high strength steel market revenue, by product, 2014 - 2025 (USD Million)
Table 65 Brazil high strength steel market volume, by application, 2014 - 2025 (Kilotons)
Table 66 Brazil high strength steel market revenue, by application, 2014 - 2025 (USD Million)
Table 67 Middle East & Africa high strength steel market estimates and forecast, 2014 - 2025 (Kilotons) (USD Million)
Table 68 Middle East & Africa high strength steel market volume, by product, 2014 - 2025 (Kilotons)
Table 69 Middle East & Africa high strength steel market revenue, by product, 2014 - 2025 (USD Million)
Table 70 Middle East & Africa high strength steel market volume, by application, 2014 - 2025 (Kilotons)
Table 71 Middle East & Africa high strength steel market revenue, by application, 2014 - 2025 (USD Million)
Table 72 Saudi Arabia high strength steel market estimates and forecast, 2014 - 2025 (Kilotons)(USD Million)
Table 73 Saudi Arabia high strength steel market volume, by product, 2014 - 2025 (Kilotons)
Table 74 Saudi Arabia high strength steel market revenue, by product, 2014 - 2025 (USD Million)
Table 75 Saudi Arabia high strength steel market volume, by application, 2014 - 2025 (Kilotons)
Table 76 Saudi Arabia high strength steel market revenue, by application, 2014 - 2025 (USD Million)
List of Figures
FIG. 1 Market summary
FIG. 2 Market trends & outlook
FIG. 3 Market Segmentation & Scope
FIG. 4 High Strength Steel Market - Value chain analysis
FIG. 5 Global production of crude iron ore, 2011 - 2015, (Million Tons)
FIG. 6 Global production of usable iron ore by country 2015, (%)
FIG. 7 Global production of manganese by country 2015, (%)
FIG. 8 High strength steel - Market Dynamics
FIG. 9 Global automotive production, 2012 - 2016 (Units)
FIG. 10 High strength steel - Porter’s Five Forces Analysis
FIG. 11 PESTEL Analysis
FIG. 12 High strength steel: Product movement analysis, 2016 & 2025 (%)
FIG. 13 High strength steel : Application movement analysis, 2016 & 2025 (%)
FIG. 14 Regional market place: Key takeaways
FIG. 15 High stregth steel: Regional outlook, 2016 & 2025

Companies Mentioned

  • Bohler-Uddeholm Corp.

  • ArcelorMittal S.A.

  • The United States Steel Corporation

  • Voestalpine AG

  • ThyssenKrupp AG

  • Ansteel Group Corporation

  • POSCO Co., Ltd

  • Nucor Corporation

  • SSAB

  • AK Steel Holding Corporation

  • Tata Steel

  • China Baowu Steel Group

  • JFE Steel Corporation

  • JSW Steel

  • Novolipetsk Steel (NLMK)

Methodology

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