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Markets and Markets : Ultra-High Strength Steel Market worth 11.35 Billion USD by 2022

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11/15/2017 | 07:15am CET

The report 'Ultra-High Strength Steel Market by Type (Dual Phase, Complex Phase, Multiphase, Martensitic, Transformation-Induced Plasticity), End-Use Industry (Automotive and Aerospace & Defense), and Region - Global Forecast to 2022', The ultra-high strength steel market is estimated to be USD 7.96 Billion in 2017 and is projected to reach USD 11.35 Billion by 2022, at a CAGR of 7.35% from 2017 to 2022. Rapid industrialization in emerging countries and the increased demand for ultra-high strength steels in the automotive, aerospace, and construction industries are key factors anticipated to drive the growth of the ultra-high strength steel market.

Browse 84 Market Data Tables and 35 Figures spread through 174 Pages and in-depth TOC on 'Ultra-High Strength Steel Market by Type (Dual Phase, Complex Phase, Multiphase, Martensitic, Transformation-Induced Plasticity), End-Use Industry (Automotive and Aerospace & Defense), and Region - Global Forecast to 2022'http://www.marketsandmarkets.com/Market-Reports/ultra-high-strength-steel-market-55662062.htmlEarly buyers will receive 10% customization on reports.

Based on type, the dual phase segment of the ultra-high strength steel market is projected to grow at the highest CAGR from 2017 to 2022.

Based on type, the ultra-high strength steelmarket has been segmented into dual phase, complex phase, multiphase, martensitic, transformation-induced plasticity, and others. The dual phase type segment of the ultra-high strength steel market is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the exceptional properties of dual phase steels that include high strength, improved drawability, and high strain hardenability.

Based on end-use industry, the aerospace & defense segment of the ultra-high strength steel market is projected to grow at the highest CAGR from 2017 to 2022.

Based on end-use industry, the aerospace & defense segment of the ultra-high strength steel market is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing use of ultra-high strength steels to develop aerospace components, with a lifespan of 30 years and minimal maintenance requirements. Companies operating in the steel industry, especially in developed countries, such as the US and Germany, are undertaking efforts to develop advanced steel grades suitable for high-end applications, such as aircraft and shipbuilding.

The Asia Pacific ultra-high strength steel market is projected to grow at the highest CAGR during the forecast period.

The ultra-high strength steel market in Asia Pacific is projected to grow at the highest CAGR from 2017 to 2022. This growth is primarily driven by rapid industrialization and infrastructure development in this region. Key manufacturers of ultra-high strength steels are headquartered in the Asia Pacific region. Furthermore, the growth of the manufacturing sector in emerging countries, such as China, India, and Taiwan, is driving the demand for ultra-high strength steels in Asia Pacific.

The United States Steel Corporation (US), ArcelorMittal (Luxembourg), Schuler Group (Germany), SAIL (India), China Baowu Steel Group Corp. (China), POSCO (South Korea), Tata Steel (India), JSW Steel (India), Voestalpine Group (Austria), Nippon Steel & Sumitomo Metal Corporation (Japan), Kobe Steel (Japan), China Steel Corporation (Taiwan), JFE Steel (Japan), Essar Steel (Mumbai), Novolipetsk Steel (Russia), Angang Steel Company Limited (China), Nucor Corporation (US), Gerdau S.A. (Brazil), AK Steel Holding Corporation (US), Hyundai Steel Co., Ltd. (South Korea), Usiminas (Brazil), Hebei Puyang Iron and Steel Co., Ltd. (China), and Shougang Corporation (China) are key players operating in the ultra-high strength steel market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the 'Growth Engagement Model - GEM'. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write 'Attack, avoid and defend' strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, 'RT' connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Rohan
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Markets and Markets Limited published this content on 15 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 15 November 2017 06:14:01 UTC.

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