High Strength Steel Market Key Players:
Some of the prominent players operating in the global high strength steel market are Arcelor Mittal (Luxembourg), United States Steel Corporation (U.S.), Voestalpine AG (Austria), SSAB (Sweden), Shandong Steel Group (China), SAIL (India), Tata Steels (India), Nippon Steel and Sumitomo Metal Corporation (Japan), POSCO (South Korea), Wuhan Iron and Steel Corporation (China), Tata Steels Limited (India) and Nippon Steel & Sumitomo Metal Corporation (Japan) among others.
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High Strength Steel Market Segmentation:
The global high strength steel market is segmented into product type and end-user industry. On the basis of the type, the market is segregated into high strength low alloy steel, dual phase steel, hardenable brake steel, carbon manganese steel, and others. On the basis of the end-user industry, the global market can be further bifurcated into automotive, building & construction, mining & other equipment, aviation, marine, military & defense, and others.
High Strength Steel Market Regional Analysis:
The global high strength steel market is spanned across five key regions: North America, Asia Pacific Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share and is expected to grow at a considerable CAGR. The growing development of industries in the region is the major factor attributing to the growth of the segment. Moreover, the shifting of the automotive manufacturing base into the region owing to the cheap labor and encouraging government regulations is also contributing to the growth of the market.
The North American high strength steel market is mainly driven by the Canada and the U.S. The growing adoption rate coupled with the developed end-user industries are the key factors attributing to this growth. Moreover, the properties such as high tensile strength and lightweight also find its application in the defense sector. The growing defense budget in the region is also anticipated to surge the market demand.
High Strength Steel Market Table of Content to be Continue………,
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