Portland, OR — 01/02/2018 — Growth in transport industry and technological advancements in products & production procedures are major factors that drive the growth of advanced and ultra-high-strength steel market. Increase in industrialization and growth in infrastructure investment are other factors, which supplement market growth. Asia-Pacific is expected to register substantial growth owing to, massive urbanization in emerging economies such as China & India and growth in income of people in urban areas. Fluctuation in raw material prices and competition from substitutes such as carbon fibre reinforced plastic (CFRP) restrain the market growth.
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Advanced and ultra-high-strength steel are complex sophisticated materials containing multiphase microstructures and chemical compositions resulting from precisely controlled cooling and heating processes. This steel has 550 MPa yield strength and >780 MPa tensile strength. They offer high strength and optimized formability, which allows weight reduction and design freedom for various types of crash components and structural reinforcements. Recently, an increase is witnessed in funding & research for development of third generation advanced ultra-high-strength steel to offer enhanced strength-ductility combinations and showcase the potential for efficient joining capabilities at lower costs.
The report segments the advanced and ultra high-strength steel market on the basis of product type, production procedure, application, and geography. Based on product type, it is divided into dual phase (DP), complex-phase (CP), ferritic-bainitic (FB), martensitic (ms or mart), transformation-induced plasticity (TRIP), hot-formed (HF), and twinning-induced plasticity (TWIP). On the basis of production procedure, the market is bifurcated into hot rolled and cold rolled. On the basis of application, it is classified into automotive, aerospace, construction, heavy machinery, and others (power generation and shipbuilding). Automotive is further divided into automotive body-in-white, precision tubes, engine sub-frames, wheels, crash boxes, roofbows, door & sill reinforcements, chassis & suspension components, and others (support components, upper & lower control arms and twist beam rear axles). By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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