Advanced High-Strength Steel (AHSS) Gaining Traction

Historically, the global iron and steel mills and ferroalloy manufacturing market, one of the segments of the metal manufacturing industry, declined at a compound annual growth rate (CAGR) of -3.70%. This was due to high operational cost and stringent regulations regarding ferroalloys, steel and iron manufacturing.

The global iron and steel mills and ferroalloy manufacturing market size is expected to reach $2200 billion by 2021 at a CAGR of -0.90%. Going forward, the market is expected to decelerate at a slower pace than the historic growth rate. This is mainly due to continued weakness and oversupply in the steal market, undermining pricing. In addition, increasing construction activity in countries such as Brazil, Russia, India, China, and South Africa (BRICS) will stimulate the development of the iron and steel mills and ferroalloy manufacturing market.

Find TBRC’s report on the iron and steel mills and ferroalloy manufacturing market: https://www.thebusinessresearchcompany.com/report/iron-and-steel-mills-and-ferroalloy-manufacturing-global-market-report-2018

The demand for advanced high strength steel is growing in the automotive industry. This is primarily due to affordability, performance, manufacturability, and recyclability offered by AHSS. AHSS has higher durability compared to conventional steel, allowing automobile manufacturers to produce high quality and safe vehicles. According to market research company Lucintel, an automobile chassis made using AHSS is about 15% lighter compared to one made using conventional steel. As a result, most automobile manufacturers have started to invest heavily in AHSS. For instance, automobile manufacturer Chevrolet cut 300 pounds of weight from its 2015 Chevrolet Malibu car by using AHSS for its 2016 model. Similarly, automobile manufacturers such as Hyundai, Kia and Nissan are also using AHSS to manufacture their vehicles.

Download a sample report: https://www.thebusinessresearchcompany.com/sample.aspx?id=98&type=smp

The iron and steel mills and ferroalloy manufacturing market is segmented into Crude Steel, Pig Iron and Ferroalloys.

Crude Steel segment includes establishments making steel, manufacturing shapes and forming pipe and tube.

Pig Iron is an intermediate good obtained in the manufacturing of iron. Molten or solid form of pig iron is used to manufacture iron into steel.

Ferroalloys segment includes high percentage nonferrous alloying elements such as electrometallurgical, manganese metal, molybdenum silicon, silicomanganese, and spiegeleisen ferroalloys. These are used in the production of wires, switches, automotive radiators, water heaters, refrigerators, metal casting, and various other chemical processing equipment.

The top five companies covered are ArcelorMittal S.A., POSCO, China BaoWu Steel Group Corporation Limited, Nippon Steel & Sumitomo Metal Corp and JFE Engineering Corporation. AcelorMittal was the largest company in the iron and steel mills and ferroalloy manufacturing market in 2017.

The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.

About The Business Research Company.

The Business Research Company is a Business Intelligence Company which excels in company, market and consumer research. It has offices in the UK, the US and India and a network of trained researchers in 15 countries globally.

Contact Information.

The Business Research Company

Europe: +44 207 1930 708

Asia: +91 8897263534

Americas: +1 315 623 0293

Email: info@tbrc.info

Follow us on Linkedin: https://in.linkedin.com/company/the-business-research-company

The Business Research Company's management has more than 20 years of varied business research experience. They have delivered hundreds of research projects to the senior management of some of the world's largest organizations.