According to the latest report published by Transparency Market Research, the global ultra-high-strength market is expected to register an outstanding growth during the forecast period from 2017 to 2025. The rise of this complex and sophisticated material – which results from precisely controlled heating and cooling processes – can be attributed to their cost effectiveness. Allowing design freedom as well as weight reduction for different types of structural reinforcements and crash components, ultra-high-strength steel offers extremely high strength and enhanced formability. This has resulted in the rise of its usage across the globe. On the account of its energy saving property, ultra-high strength steel is heavily used in automotive sector. Weight reduction of steel structures is another major factor driving the demand for ultra-high-strength market. This will further result in demand from building and construction as well, which overall compliments the anticipated growth in the TMR report.
Extensive usage in passenger cars to fuel the market growth further
On the basis of product type, the report fragments the ultra-high-strength steel market into dual phase (DP), complex-phase (CP), ferritic-bainitic (FB), martensitic (ms or mart), transformation-induced plasticity (TRIP), hot-formed (HF), and twinning-induced plasticity (TWIP).
The rise in the consumption of dual-phase ultra-high-strength steel is expected to grow the market significantly during the forecast period. Preventing fatigue cracks and having high cyclic resistance are the major factors behind the anticipated increase in the consumption. Moreover, on account of its lightweight and ability to withstand the pressure, ultra-high-strength steel is used to make fittings and body of missiles. It is further used for naval ship hulls where high stretch ductility and strength is mandatory and for black resistant applications as well.
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Ultra-high-strength steel is also used to drive steel shafts where fatigue performance and static performance is needed and for chassis parts as well. This will further enable the market to grow considerably in the forecast period. Another extensive use of ultra-high-strength steel, in the form of martensitic steel, is in passenger compartments of cars to improve safety performance. High tensile strength of martensitic steel is an added advantage for cold forming of structural components and another factor that will drive the market further. The demand for TRIP ultra-high-strength steel is further anticipated to increase due to its high energy absorption characteristics and large elongation.
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 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
- Heavy Machinery
Global Ultra-High-Strength Steel Market, by Geography
- Asia Pacific
- Rest of Asia Pacific
- North America
- Rest of Europe
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa