Lightweighting Pushes AHSS Market

A study published by Fact.MR takes a look at the advanced high-strength steel (AHSS) market. They expect applications for AHSS to rise in automobiles. The role of advanced high-strength steel will become crucial in enhancing fuel economy, crash safety and engine performance, making it a practical investment in the automotive sector. The demand for advanced high-strength steel is projected to surpass 13,800 KT in 2019, recording an improvement from 2018.

In addition, the report stated that the advanced high-strength steel market is anticipated to broaden at a volume CAGR of more than 10 percent during the forecast period until 2027.

Global automakers are facing challenges in fuel efficiency improvement. AHSS delivers a greater degree of fuel efficiency, quality, durability and affordability, features highly appreciated across the automotive industry.

Lightweighting plays a role in this rising demand. Worldwide safety and fuel regulations are pressing OEMs to lower vehicle weight. This is pushing automakers to contemplate using effective materials like advanced high-strength steel. Furthermore, automakers are focusing on vehicular weight reduction to reduce fuel emissions and fulfill greenhouse gas requirements.

It is believed that Europe would continue its run as the largest market for advanced high-strength steel during 2019, closely followed by North America.

Some of the prime manufacturers from the AHSS manufacturers market are the United States Steel Corporation, Tata Steel, ThyssenKrupp AG, ArcelorMittal SA., Nucor Corp, Baoshan Iron & Steel, AK Steel Holding Corp, SSAB AB and Steel Technologies.