Aerospace & Defense to Drive the Global Ultra-High-Strength Steel Market to a Remarkable Growth during 2017-2025

The global ultra-high-strength steel market is expected to witness a remarkable growth from 2017 to 2025, according to the latest report published by Transparency Market Research. Cost effectiveness of ultra-high-strength steel is one of the major drivers of the market growth, as per the report. Offering exceptionally high strength and improved formability, ultra-high-strength steel is anticipated to expand at healthy pace over the forecast period. The market is exponentially growing due to increase in the consumption of dual-phase ultra-high-strength steel. The rise in the consumption can be attributed to extraordinary characteristics such as having high cyclic resistance and preventing fatigue cracks. Additionally, properties of ultra-high-strength steel like ability to withstand the pressure and its lightweight are expected to further fuel the market growth significantly. Moreover, the consumption of hot-rolled steel products has shown substantial growth over the past few years and will continue to impact the global ultra-high-strength steel market.

The heavy usage of ultra-high-strength steel in automotive sector to further fuel the market growth

On the basis of end-use industry, the global ultra-high-strength steel market is segmented into automotive, aerospace, construction, heavy machinery, and others. The aerospace & defense segment of the market is expected to be a major driver for the market growth during the forecast period. The increase in usage of ultra-high-strength steels to develop aerospace components is reported to be among the leading factors responsible for the market growth. Moreover, ultra-high-strength is extensively used in automotive sector due its energy saving property.

Another major factor behind this heavy usage of ultra-high-strength steel is weight reduction of steel structures. The demand for ultra-high-strength steel is also expected to upsurge from building and construction segment, which will further impact the market growth significantly. Efforts to develop advanced steel grades suitable for high-end applications are commenced by companies that are operating in the steel industry, especially in developed countries like Germany and the US.

Several major players operating in global ultra-high strength steel market are included in this TMR report, such as ArcelorMittal Group, Schuler Inc., Tata Steel, Nucor Corporation, Usui Kokusai Sangyo Kaisha Ltd., Nippon Steel & Sumitomo Metal Corporation, Tenaris, Aubert & Duval, JFE Steel Corporation, Shougang Jingtang United Iron & Steel Co. Ltd., and Baosteel Group.

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The findings presented above is based on the TMR’s new research report, titled, “Ultra-High-Strength Steel Market (Product Type – Dual Phase, Complex Phase, Multiphase, Martensitic, Transformation-Induced Plasticity; End-Use Industry – Aerospace, Automotive, Construction, Heavy Machinery and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025”.

The ultra-high-strength steel market is segmented into following categories:

Global Ultra-High-Strength Steel Market, by Product Type

  • Dual Phase (DP)
  • Complex-Phase (CP)
  • Ferritic-Bainitic (FB)
  • Martensitic (MS or MART)
  • Transformation-Induced Plasticity (TRIP)
  • Hot-Formed (HF)
  • Twinning-Induced Plasticity (TWIP)

Global Ultra-High-Strength Steel Market, by End-Use Industry

  • Automotive
  • Aerospace
  • Construction
  • Heavy Machinery
  • Others

Global Ultra-High-Strength Steel Market, by Geography

  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Rest of Asia Pacific
  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Rest of Middle East & Africa

 

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