M A T E R I A L S
Global 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, says
research study into the high strength steel market.
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REN371
ADVANCED
HIGH STRENGTH
STEEL
DEMAND AMID RADICAL END-USER SHIFT
IInterest 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.
“End-user’s inclination toward
advanced materials offering
durability, while retaining formability
critical to the manufacturing
procedures, remains palpable in
the market space. Manufacturers,
in a bid to solidify their market
sustenance, are developing
distinguishable products offering
optimal scalability and longevity,
albeit repeated use,” says report.
According to the report, enduser
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 ‘DPAHSS’,
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 analysis finds that AHSS
variants with moderate tensile
strength will continue to remain
preferred, on account of high use
across a range of applications. This
report opines that AHSS with ‘600-
900 MPa’ tensile strength will remain
the top-selling variant, with global
sales estimated to exceed 7,000 KT
in 2019.
The study says that advanced
high strength steel will witness
extensive adoption in development
of structural details. Advanced
high strength steel is widely used
for crafting structural details
and reinforcements as they
offer immense scope for weight
optimization and freedom of
design. This, in turn, makes it a
lucrative application target for
the manufacturers in terms of
profitability. Moreover, use of
advanced high strength steel in
manufacturing car seats is also
gaining substantial traction, as car
seat components are subject to
strict safety standards.
As per report’s analysis, Europe
remains a highly profitable region
for the manufacturers of advanced
high strength steel. Demand for
advanced high strength steel
remains high in Europe, notably
in the EU 5 countries, where the
automakers are striving to reduce
weight of vehicles in a bid to meet
futuristic regulations vis-à-vis
tailpipe emissions. The report
unveils that Europe will continue to
be the largest market for advanced
high strength steel in 2019, with
North America following suit.
Offering products with excellent
strength and high computability
with end-use applications remains
a key focal point for manufacturers
of advanced high strength steel.
Realising the competition level in the
global market space, manufacturers
are vying to be well-positioned to
capitalise on the evolving market
trends. Manufacturers of advanced
high strength steel are analysing the
short- and long-term consequences
of incorporating new designs
in a bid to constantly push their
performance boundaries via launch
of new products.
The report delivers actionable
insights into the advanced high
strength steel market over the
forecast period of 2018-2027.
It indicates that advanced high
strength steel market is likely to
expand at a volume CAGR of over
10% through 2027.
46 September 2019
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