Advanced High-Strength Steel Market by Grade, Processing Technology, Application

Description

List of Tables

[196 Pages Report] The Advanced High-Strength Steel Market size was estimated at USD 26.99 billion in 2023 and expected to reach USD 29.24 billion in 2024, at a CAGR 8.61% to reach USD 48.14 billion by 2030.

Advanced high-strength steel (AHSS) refers to a class of steel materials that provide a good combination of strength and ductility. These materials have been meticulously engineered to deliver superior mechanical properties, notably higher strength-to-weight ratios, compared to conventional steel. AHSS grades are increasingly utilized across various industries, with their primary application being in the automotive sector, where the demand for lightweight, energy-efficient vehicles with high safety standards is on the rise. Additionally, construction activity in urban and industrial areas boosts demand for AHSS in infrastructure projects. The high production costs of AHSS in comparison to traditional steel may limit its adoption in cost-sensitive sectors. Manufacturing complexities also pose constraints for the widespread growth of AHSS. However, key players are exploring the use of novel production technologies to overcome challenges associated with cumbersome production and sustainability. Furthermore, tailoring the properties of AHSS for specialized applications in various industries can provide new avenues of growth for the industry.

KEY MARKET STATISTICS
Base Year [2023]	USD 26.99 billion
Estimated Year [2024]	USD 29.24 billion
Forecast Year [2030]	USD 48.14 billion
CAGR (%)	8.61%

Regional Insights

In the Americas, the United States and Canada represent significant markets for AHSS. The US is characterized by the presence of several major automobile manufacturers and is, therefore, witnessing a surge in the adoption of AHSS. Manufacturers are increasingly incorporating AHSS in their vehicles to reduce weight without compromising safety. The European Union countries are governed by strict environmental legislation and have made significant efforts in adopting and mandating the use of AHSS for automotive applications. This region has a consumer base that highly values sustainability and safety, thereby influencing purchasing behavior towards vehicles that incorporate AHSS. APAC's position as a manufacturing hub and significant government investments in improving AHSS production capacities has driven the growth of AHSS. In China, India, and Japan, a substantial amount of investment is being directed towards expanding capacity and improving the quality of AHSS.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Advanced High-Strength Steel Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Rising demand for advanced high-strength steel from the automotive and aerospace industry
- Increasing private and government funding for large infrastructure projects

Market Restraints
- Technical limitations of advanced high-strength steel

Market Opportunities
- Advancements in performance and strength of advanced high-strength steel
- Introduction of sustainable methods for the manufacture of advanced high-strength steel products

Market Challenges
- Complexities in welding and processing of high-strength steels

Market Segmentation Analysis
- Grade: Expanding adoption of martensitic steel owing to its high strength
- Processing Technology: Novel advancements and R&D initiatives in hot & cold stamping
- Application: Need for lightweight components in automotive and energy applications necessitating deployment of AHSS

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Advanced High-Strength Steel Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Advanced High-Strength Steel Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Thyssenkrupp Steel's New 2-Stand Reversing Cold Mill Enables High-End Production Of Silicon Steel and AHSS

Thyssenkrupp Steel launched its cutting-edge 2-stand reversing cold mill at their Bochum facility, marking a significant leap forward in their strategic focus on advanced high-strength steels and e-mobility. With the adept technological support from Primetals Technologies, this mill is poised to enhance product quality by enabling the creation of thinner yet stronger steel sheets, thus improving the energy efficiency and performance of electric motors. [Published On: 2023-10-30]

Tata Steel and the UK Government Jointly Agree On Investment Proposal

In collaboration with the UK Government, Tata Steel has unveiled an ambitious investment plan aimed at revolutionizing the UK steel sector, particularly focusing on transforming operations in Port Talbot. Through strategic discussions with unions and harnessing both government support and the commitment of Tata Steel UK's workforce, the organization is poised to redefine its UK business as a sustainable, technologically advanced entity, ready to meet future market demands. [Published On: 2023-09-15]

Shape Corp. Pioneers Advanced High Strength, Complex Roll Formed Aluminum Applications for the Automotive Industry

Shape Corp. unveiled roll-formed aluminum components, culminating in its enduring collaboration with Novelis, an innovator in sustainable aluminum solutions. Showcasing innovative design and high-strength capabilities, these components, which include rockers, battery tray crossmembers, and roof bows, leverage the robust features of Novelis' advanced high-strength 6xxx series aluminum alloys. [Published On: 2023-07-19]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Advanced High-Strength Steel Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Advanced High-Strength Steel Market, highlighting leading vendors and their innovative profiles. These include Ansteel Group, ArcelorMittal S.A., China Baowu Steel Group Corp., Ltd., China Steel Corporation, CITIC Limited, Cleveland-Cliffs Inc., Danieli & C. S.p.A., Essar Group, Hyundai Steel Co., Ltd., JFE Steel Corporation, Jindal Stainless Limited, JSW Steel Limited, Kobe Steel Ltd., Metinvest Holding, LLC, NanoSteel Co., Nippon Steel Corporation, Nova Steel, Novolipetsk Steel, Nucor Corporation, Posco Group, Salzgitter Flachstahl GmbH, SSAB AB, Steel Authority of India Limited, Steel Technologies LLC, Stelco Holdings Inc., Tata Steel Limited, Ternium S.A., ThyssenKrupp AG, United States Steel Corporation, and Voestalpine AG.

Market Segmentation & Coverage

This research report categorizes the Advanced High-Strength Steel Market to forecast the revenues and analyze trends in each of the following sub-markets:

Grade
- Complex Phase Steel
- Dual-Phase Steel
- Martensitic Steel
- Press-Hardened Steels
- Transformation-Induced Plasticity Steel
- Twinning-Induced Plasticity Steel

Processing Technology
- Cold Stamping
- Continuous Annealing Line
- Hot stamping
- Quenching & Partitioning

Application
- Aerospace
- Automotive
- Construction
- Energy
- Infrastructure
- Shipbuilding

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-035DA3C636F7

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising demand for advanced high-strength steel from the automotive and aerospace industry
  - 5.1.1.2. Increasing private and government funding for large infrastructure projects
- 5.1.2. Restraints
  - 5.1.2.1. Technical limitations of advanced high-strength steel
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements in performance and strength of advanced high-strength steel
  - 5.1.3.2. Introduction of sustainable methods for the manufacture of advanced high-strength steel products
- 5.1.4. Challenges
  - 5.1.4.1. Complexities in welding and processing of high-strength steels
5.2. Market Segmentation Analysis
- 5.2.1. Grade: Expanding adoption of martensitic steel owing to its high strength
- 5.2.2. Processing Technology: Novel advancements and R&D initiatives in hot & cold stamping
- 5.2.3. Application: Need for lightweight components in automotive and energy applications necessitating deployment of AHSS
5.3. Market Trend Analysis
- 5.3.1. Advancements in AHSS composition and sustainable production to cater to the evolving demands of large-scale production of electric vehicles
- 5.3.2. Well-established AHSS production and export in the Asia-Pacific region to support the ever-growing demand for electric vehicle manufacturing and infrastructure development
- 5.3.3. Massive investment from major global vendors supported by European government and demand of AHSS from the automotive, and construction sector
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Advanced High-Strength Steel Market, by Grade

6.1. Introduction
6.2. Complex Phase Steel
6.3. Dual-Phase Steel
6.4. Martensitic Steel
6.5. Press-Hardened Steels
6.6. Transformation-Induced Plasticity Steel
6.7. Twinning-Induced Plasticity Steel

7. Advanced High-Strength Steel Market, by Processing Technology

7.1. Introduction
7.2. Cold Stamping
7.3. Continuous Annealing Line
7.4. Hot stamping
7.5. Quenching & Partitioning

8. Advanced High-Strength Steel Market, by Application

8.1. Introduction
8.2. Aerospace
8.3. Automotive
8.4. Construction
8.5. Energy
8.6. Infrastructure
8.7. Shipbuilding

9. Americas Advanced High-Strength Steel Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Advanced High-Strength Steel Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Advanced High-Strength Steel Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Thyssenkrupp Steel's New 2-Stand Reversing Cold Mill Enables High-End Production Of Silicon Steel and AHSS
- 12.3.2. Tata Steel and the UK Government Jointly Agree On Investment Proposal
- 12.3.3. Shape Corp. Pioneers Advanced High Strength, Complex Roll Formed Aluminum Applications for the Automotive Industry
- 12.3.4. WorldAutoSteel & Nucor Unveil MaaS AV Designs
- 12.3.5. Posco Completes Steel Plant In China To Meet EV Demand
- 12.3.6. VAMA Announces Start Of Production For Its Second Continuous Galvanization Line
- 12.3.7. Iran Started Production Of Dual-Phase (DP) Hot-Rolled Steel
- 12.3.8. The U.S. Steel to Supply General Motors with Sustainable Product
- 12.3.9. ArcelorMittal and Interactive Fully Electrical Vehicles (I-FEVS) Collaborate On E-Mobility With Sustainable Advanced High-Strength Steel Solutions
- 12.3.10. Commercial Metals Company Acquires Advanced Steel Recovery
- 12.3.11. Ricardo Designs Self-Driving EV That Uses Existing AHSS, Assembly Methods
- 12.3.12. ArcelorMittal Announces Investment For Special Steels For Electric Vehicles

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio