The latest report published by Transparency Market Research anticipates a substantial growth of the ultra-high-strength steel market from 2017 to 2025. Transport industry’s growth coupled with the technological advancements in products & production procedures are the prime factors expected to drive the market growth according to the TMR report. A significant growth in infrastructure investment combined with the rise in industrialization is other major drivers of the ultra-high-strength steel market growth. Rendering design freedom for various types of structural reinforcements and crash components, the ultra-high-strength steel is known to offer high strength. Moreover, its energy-saving characteristic is expected to register a significant demand for ultra-high-strength steel during the forecast period. Additionally, the increased demand for ultra-high-strength steel from the automotive sector is further anticipated to fuel the demand from the building and construction sector. Also, hot-rolled steel products have registered a substantial growth in its consumption over the past few years and will continue to register high consumption rate of the ultra-high-strength steel. Overall, this will impact market growth, according to the TMR report.

Massive urbanization to be amongst major factors behind the market growth

On the basis of geography, Asia Pacific is expected to lead the ultra-high-strength steel market during the forecast period. Massive urbanization in emerging economies, mainly China & India, coupled with the rise in income of people living in urban areas will help the region register a remarkable growth. With Japan leading the ultra-high-strength steel market from the front, the increase in the production of automobiles in China and Korea will drive the market growth further.

Additionally, high consumption of high-ultra-strength steel is expected from the defense and aviation sector in the Asia Pacific, which will further impact the market growth. The major factors behind the high demand for the ultra-high-strength steel are the long lifespan and minimum maintenance required. Also, the demand for cold rolled steel products is reported to grow rapidly in India, which will further lead the market to a substantial growth.

The review presented above is based on the TMR’s research report, titled, “Ultra-High-Strength Steel Market (Product Type - Dual Phase, Complex Phase, Multiphase, Martensitic, Transformation-Induced Plasticity; End-Use Industry - Aerospace, Automotive, Construction, Heavy Machinery, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025”.
The ultra-high-strength steel market is segmented into the following categories:
Global Ultra-High-Strength Steel Market, by Product Type
• Dual Phase (DP)
• Complex-Phase (CP)
• Ferritic-Bainitic (FB)
• Martensitic (MS or MART)
• Transformation-Induced Plasticity (TRIP)
• Hot-Formed (HF)
• Twinning-Induced Plasticity (TWIP)
Global Ultra-High-Strength Steel Market, by End-Use Industry
• Automotive
• Aerospace
• Construction
• Heavy Machinery
• Others
Global Ultra-High-Strength Steel Market, by Geography
• Asia Pacific
o China
o India
o Japan
o Australia
o Rest of Asia Pacific
• North America
o The U.S.
o Canada
• Europe
o U.K.
o Germany
o France
o Spain
o Italy
o Rest of Europe
• Latin America
o Brazil
o Mexico
o Rest of Latin America
• Middle East & Africa
o South Africa
o Saudi Arabia
o Rest of Middle East & Africa

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