Global High Strength Steel Market– Industry Trends and Forecast to 2026

High Strength Steel is defined as steel that has yield strength ranging between 210-550 MPa and a tensile strength 270 to 700MPa. High strength steel is the type of steel that promotes high yield due to strengthening mechanisms that were employed on the steel to achieve better strength, toughness, fatigue and ductility.  
 High strength steel is used in a wide variety of applications, most prominent are automotive, heavy machinery manufacturing, energy and power, ship building, aerospace, packaging and consumer goods.
 Most commonly high strength steel is produced with the cold rolled process followed by hot rolled, metallic rolled and direct rolled. 

 Segmentation: Global High Strength Steel Market

Global high strength steel market is segmented into three notable segments which are grade type, product type and end users.
  • On the basis of grade type, the market is segmented into high strength low alloy, dual phase, transformation inducted plasticity, bake hardenable, rephosphorised steel, interstitial free and others. Dual phase high strength steel segment is growing at the highest CAGR of in the forecast period of 2019 to 2026.
  • In November 2018, Tata Steel expanded their steel production in MTPA Phase-II expansion of its Kalinganagar plant. The capacity of the plant is around 8 million tons per annum (MTPA). This addition in the capacity of the plant will enhance the steel production of the company.

Competitive Analysis: Global High Strength Steel Market

Some of the major players operating in this market are POSCO, Arcelormittal S.A., Nippon Steel & Sumitomo Metal Corporation, Tata Steel, NUCOR, HBIS Group, HYUNDAI STEEL, AK Steel Corporation


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