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High strength steels market to rake in USD 21.17 billion in investments by 2023

Industrial Market Research

High Strength Steels Market was valued at USD 14.27 billion in 2015 and is projected to reach USD 21.17 billion by 2021, at a CAGR of 8.2% from 2016 to 2021. The increasing applicability of high strength steels across varied end-use industries, technological advancements, and the growing demand of high strength steels in the Asia-Pacific region are driving the high strength steels market.

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Dual phase is the fastest-growing segment of the high strength steels market by type, in terms of value. These steels offer outstanding strength.

They are widely used in the automotive end-use industry. Some of the major advantages of dual phase steels are that they have high tensile strength, excellent cold workability, and good weld ability.

Industry Trends
1 Introduction
2 Value Chain Analysis
3 Porter’s Five Forces Analysis
4 Bargaining Power of Suppliers
5 Threat of New Entrants
6 Threat of Substitutes
7 Bargaining Power of Buyers
8 Intensity of Rivalry

The automotive segment is the largest segment of the global HSS market, by end-use industry. High strength steels are fuel efficient as it is lightweight in nature.

HSS also provides safety owing to its strength, and emits minimum amount of CO2. Due to these added benefits of HSS, conventional steel is likely to be replaced by HSS in the automotive industry.

Asia-Pacific is the fastest-growing region for the high strength steels market, globally.

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This study has been validated through primary interviews with various industry experts globally. The break-up profile of primary discussion participants is given here Tier 1 (20%); Tier 2 (30%) and Tier 3 (50%) companies were contacted for interviews.

The interviews were conducted with various key people such as C Level (30%), Director Level (10%) and other (60%) from various key organizations. The primary interviews were conducted worldwide covering regions such as North America (25%), Europe (20%), Asia-Pacific (40%) and Middle East & Africa (5%) .

Premium Insights
1 Asia-Pacific Expected to Witness Significant Growth in the Global HSS Market
2 Global HSS Market: Key Regions
3 HSS Market in Asia-Pacific
4 Global HSS Market, By Type
5 Global HSS Market, By Region
6 Global HSS Market: Emerging vs. Developed Nations
7 Global HSS Market, By End-Use Industries
8 Lifecycle Analysis, By Region

The companies profiled in this report are Arcelor Mittal (Luxembourg), United States Steel Corporation (U.S.), Voestalpine AG (Austria), SSAB (Sweden), Shandong Steel Group (China), SAIL (India), Tata Steels (India), Nippon Steel and Sumitomo Metal Corporation (Japan), POSCO (South Korea), Baosteel Group (China), Severstal JSC (Russia), ThyssenKrupp AG (Germany), and others.

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The report offers market estimations and projections till 2021 and offers a complete study of the market dynamics. In addition, the report provides the competitive landscape with major growth strategies adopted by the key players.

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