North America Third Generation Advanced High-Strength Steel Market By 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 and 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 (Automotive Body Side Outer Panels, Automotive Body Side (All Other Panels) and Others) and Country (U.S.A, Canada, Mexico) – Industry Trends and Forecast to 2026
Third generation advanced high-strength steel is generally used for automotive applications such as decreasing the weight of the vehicle so that the fuel efficiency gets increased. Its high tensile strength property further provides the safety to the consumers and vehicles.
The lightweight materials take less energy to accelerate a lighter object as compared to the heavier one and also help further to increase the efficiency of the vehicle. Thus demand of lightweight materials is the factor which helps in growth of the market.
North America third generation advanced high-strength steel market is projected to register a healthy CAGR in the forecast period of 2019 to 2026.
Segmentation: North America Third Generation Advanced High-Strength Steel Market
North America third generation advanced high-strength steel market is segmented into five notable segments which are tensile strength, hot rolled product type, process, technology and applications.
- 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 automotive body side outer panels, automotive body side (all other panels) and others
Competitive Analysis: North America Third Generation Advanced High-Strength Steel Market
Some of the major players operating in this market are SSAB AB, ARCELORMITTAL S.A., voestalpine AG, AK Steel Corporation, POSCO, United States Steel, thyssenkrupp AG, JFE Steel Corporation, NIPPON STEEL CORPORATION (NSSMC), Anyang Iron and Steel Group, Inc., NANOSTEEL, KOBE STEEL LTD., Benxi steel group, SAIL, China Shougang Group, NUCOR, Baosteel Co., Ltd., JSW and Tata Steel.
- In September 2017, United States Steel Corporation joined hands with the Kobe Steel, Ltd.to invest in the new continuous galvanizing line so that they can meet the increasing demand for advanced high-strength steels.
- In April 2017, AK Steel Corporation launched a new product Nexmet 1000 and 1200 Advanced High Strength Steel which will specially use in automotive structural components. It will help the company to increase their customer base and satisfy their needs.
Research Methodology: North America Third Generation Advanced High-Strength Steel Market
Primary Respondents: key industry participants, subject-matter experts (SMEs), C-level executives of key market players, Market Intelligence Managers, National Sales Managers and industry consultants.