Asia-Pacific Third generation advanced high-strength steel market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the third generation advanced high-strength steel market to reach at an estimated value of USD 1,745.5 million by 2028 and to exhibit a CAGR of 12% for the forecast period of 2021-2028.
Asia-Pacific Third Generation Advanced High-Strength Steel Market Analysis and Insight
The third generation advanced high-strength steel (AHSS) is an excellent combination of strength and ductility which has high tensile strength property that further provides the safety to the consumers and vehicles.
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Asia-Pacific Third Generation Advanced High-Strength Steel Market Segmentation
Type Segment
On the basis of Type, the Third Generation Advanced High-Strength Steel Market is segmented into
· Dual-phase (DP)
· Martensitic (MS)
· Transformation-induced plasticity (TRIP)
· Twinning-induced plasticity(TWIP)
· Others
Tensile Strength Segment
On the basis of Tensile Strength, the Third Generation Advanced High-Strength Steel Market is segmented into
· 700 MPA – 900 MPA (Class 1)
· 900 MPA–1200 MPA (Class 2)
· 1200 MPA – 1600 MPA (Class 3)
· Above 1600 MPA (Class 3)
Asia-Pacific Third Generation Advanced High-Strength Steel Market Level Analysis
The countries covered in the third generation advanced high-strength steel market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
Key Players Third Generation Advanced High-Strength Steel Market
· SSAB AB
· ArcelorMittal.
· voestalpine AG
· Cleveland-Cliffs Inc.
· POSCO
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MAJOR TOC OF THE REPORT
· INTRODUCTION
· MARKET SEGMENTATION
· MARKET OVERVIEW
· EXECUTIVE SUMMARY
· PREMIUM INSIGHTS
· THIRD GENERATION ADVANCED HIGH-STRENGTH STEEL MARKET, COMPANY LANDSCAPE
· COMPANY PROFILE
· COMPONENT MANUFACTURER
· CONCLUSION
· QUESTIONNAIRE
· RELATED REPORTS
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Global 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 FindingsChina and India will drive demand for advanced high strength steel, driving heightened market activity in Asia PacificStringency in regulations in EU5 will create demand for lightweight materials, thereby benefitting the advanced high strength steel industryDual 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-effectivenessAHSS Market: Key Driving FactorsConcerted shift toward lightweight materialsStringent safety and fuel regulations, especially in developed countriesShifting consumer preference from heavy to lightweight passenger carsYou can Request an Example Copy from here - https://www.factmr.com/connectus/sample?flag=S_id=2995AHSS Market: Key RestraintsHigh cost of AHSS vis-à-vis conventional variantsLax regulations in various developing countries where passenger car sales are highCompetition LandscapeManufacturers are leveraging the high growth potential of the AHSS market by smart strategies that enable them to achieve repetitive sales and pave the way for long-term customer retention.
In a competitive and highly consolidated market, industry heavyweights are targeting capacity expansion and well-timed acquisitions in order to meet large scale global demand for AHSS.
Prominent companies operating in the global advanced high strength steel (AHSS) market, include ThyssenKrupp AG, Nucor Corp, ArcelorMittal SA., AK Steel Holding Corp, Baoshan Iron & Steel Co., Ltd and SSAB AB.
The advanced high strength steel market remains a consolidated landscape, with the monopoly of the leading players.
Buoyancy of the leading players in the advanced high strength steel market can be attributed to their global presence, and high orientation toward R activities.Sales of advanced high strength steel have witnessed a significant surge, in line with growing preference of end-use industries for materials with favorable mechanical properties.
The demand for advanced high strength steel is likely to surpass 13,800 KT in 2019, registering an upswing from 2018, as per the latest research study by Fact.MR.Interest in enhancing fuel economy and vehicular safety continues to grow across both developed and developing economies, creating sustained opportunities for manufacturers of advanced high strength steel.
The report opines that growing demand for advanced high strength steel has translated into a massive influx of innovative and new products, well aligned with end-user interest vis-à-vis high strength and optimal performance.Request to View Sample of Report @ https://www.factmr.com/connectus/sample?flag=S_id=2995According to the Fact.MR report, end-user preference for dual phase advanced high strength steel (AHSS) continues to remain intact, with global sales likely to exceed 10,300 KT in 2019.
Dual phase advanced high strength steel, otherwise known as ‘DP-AHSS’, offers immense scope for developing lighter and thinner components without compromising on strength, which is one among the chief factors boosting its adoption across multiple end-use verticals.
Martensitic advanced high strength steel is also estimated to join the trail in terms of demand in 2019 and beyond, as end-users continue to demonstrate marked preferences for steel solutions offering robust mechanical strength.The Fact.MR analysis finds that AHSS variants with moderate tensile strength will continue to remain preferred, on account of high use across a range of applications.
Advanced high-strength steels, also known as AHSS, are the complex materials produced from heating and cooling processes.
In addition, replacing cast iron and conventional steel components with AHSS directly reduces chassis by up to 50%, and thus minimizes fuel consumption of the vehicle.
Thus, the adoption of lightweight steel facilitates the incorporation of additional advanced emission control system, safety devices, and integrated electronic systems without hampering the overall vehicle weight.
This further supplements the growth of the global advanced high-strength steel market.The Global Advanced High-Strength Steel Market size was valued at $13,147 million in 2016, and is expected to reach $29,151 million by 2023, registering a CAGR of 12.2% from 2017 to 2023.
North America dominated the global market in 2016, accounting for one-third share of the total revenue.Download Report Sample @ https://www.alliedmarketresearch.com/request-sample/4596The Major Key players Are:Tata Steel LimitedArcelorMittal S.A.NanoSteelAK Steel CorporationNucor CorporationMTL Advanced Ltd.United States Steel CorporationBaoshan Iron and Steel Co. Ltd.Kobe Steel Ltd.SSAB AB.The deployment of AHSS in the automobile industry experiences significant growth.
The continuous adoption of the new technologies and grades is expected to shape the automotive sector by providing lighter vehicles and meeting fuel efficiency standards.
