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Advanced High-Strength Steel (AHSS) Gaining Traction

Author: Praneeth Tbrc
by Praneeth Tbrc
Posted: Dec 16, 2018
iron steel

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:

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.

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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.

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Author: Praneeth Tbrc

Praneeth Tbrc

United Kingdom

Member since: Nov 04, 2018
Published articles: 62

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