Asia-Pacific Third Generation Advanced High-Strength Steel Market, By Type (Dual-phase (DP), Martensitic (MS), Transformation-induced plasticity (TRIP),Twinning-induced plasticity(TWIP), Others), Tensile Strength (700 MPA – 900 MPA (Class 1), 900 MPA–1200 MPA (Class 2), 1200 MPA – 1600 MPA (Class 3) and Above 1600 MPA (Class 3), Hot Rolled Product Type (Strip, Quarto Plate), Process (Enhanced Dual-Phase (DP), Modified Trip, Ultrafine Bainite, Quenching and Partitioning (Q&P), Lower MN TRIP/TWIP and Higher MN Trip), Technology (Thick Monolithic Technology, Thin Monolithic Technology and Surface Technology), Application (Structural details, Car Seats, Bumpers, Chassis, wheels and power train, Side impact beams, Others), End User (Passenger Car, Commercial Vehicle), Country (Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific) Industry Trends and Forecast to 2028.
Market Analysis and Insights of Third Generation Advanced High-Strength Steel Market
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.
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. The different types of third generation advanced high-strength steel are dual-phase (DP), martensitic (MS), transformation-induced plasticity (TRIP), twinning-induced plasticity (TWIP) and others.
The growing urbanization and industrialization, expansion of automotive sector and increasing demand for high strength and efficient materials from automakers across the globe will emerge as some of the major factors driving market growth. The rise in the consumption of high strength steels in the automotive and construction industries with the purpose of improving the fuel efficiency of automobiles and ensuring high strength will further aggravate the market value. The growing initiatives by several government and regulatory authorities towards weight reduction of automotive components and control emissions and the increase in demand of the material owning to its effective characteristics will further carve the way for the growth of market. However, high cost associated with the production of high strength steels because of increased prices of raw materials act as a restraint for the market.
In addition to this, research and development and surge in investments, rise in support from governments of various nations and high usage in emerging economies create new profitable opportunities for growth of the market within the forecast period. The developments in the grades of advanced high strength steels and ultra-high strength steels will dampen the growth rate that further result as a challenge for the market.
This third generation advanced high-strength steel market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on third generation advanced high-strength steel market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Asia-Pacific Third Generation Advanced High-Strength Steel Market Scope and Market Size
The third generation advanced high-strength steel market is segmented on the basis of type, tensile strength, hot rolled product type, process, technology, application and end user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of type, the market is segmented into dual-phase (DP), martensitic (MS), transformation-induced plasticity (TRIP), twinning-induced plasticity (TWIP) and others.
- On the basis of tensile strength, the market is segmented into 700 MPA–900 MPA (class 1), 900 MPA–1200 MPA (class 2), 1200 MPA–1600 MPA (class 3) and above 1600 MPA (class 3).
- On the basis of hot rolled product type, the market is segmented into strip and quarto plate.
- On the basis of process, the market is segmented into enhanced dual-phase (DP), modified trip, ultrafine bainite, quenching and partitioning (Q&P), lower MN TRIP/TWIP and higher MN trip.
- On the basis of technology, the market is segmented into thick monolithic technology, thin monolithic technology and surface technology.
- On the basis of application, the market is segmented into structural details, car seats, bumpers, chasis, wheels and power train, side impact beams and others.
- On the basis of end user, the market is bifurcated into passenger car and commercial vehicle.
Third Generation Advanced High-Strength Steel Market Country Level Analysis
The third generation advanced high-strength steel market is analyzed and market size, volume information is provided by type, tensile strength, hot rolled product type, process, technology, application and end user as referenced above.
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).
China and India are projected to show lucrative growth during the forecast period owing to the increasing production of the manufacturing sector and rising exports within the region.
The country section of the third generation advanced high-strength steel market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Third Generation Advanced High-Strength Steel Market Share Analysis
The third generation advanced high-strength steel market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to third generation advanced high-strength steel market.
The major players covered in the third generation advanced high-strength steel market report are SSAB AB, ArcelorMittal., voestalpine AG, Cleveland-Cliffs Inc., POSCO, United States Steel Corporation., thyssenkrupp AG, JFE Steel Corporation, NIPPON STEEL CORPORATION, Anyang Iron and Steel Group Inc, KOBE STEEL LTD, Benxi steel group, SAIL, shougang, NUCOR, Baosteel Group, JSW, Tata Steel among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.