Global Third Generation Advanced High-Strength Steel Market is expected to reach USD 17,503,927.23 thousand by 2026, is growing at the healthy CAGR in the forecast period of 2019 to 2026. The years considered for study are as mentioned below.
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The third generation advanced high-strength steel market is a highly concentrated market which includes key players and local players. The market has witnessed increased various strategic developments owing to favourable market scenario. The market has a prominent growth in upcoming years due to the growing demand of lightweight materials in the automotive industry.
The market has witness developments in terms of merger and acquisitions or product launches to enhance the product portfolio to meet the rising demand of innovative technology. For instance, in November 2018, SSAB AB signed an agreement to acquire the distribution business of the Danish company Sanistål A/S so that they can strengthen their Nordic home market position. It will also help the Tibnor to expand its presence in Denmark.
ARCELORMITTAL S.A. dominated the third generation advanced high-strength steel market. The other key players existing in the market includes POSCO and voestalpine AG, SSAB AB, AK Steel Corporation, United States Steel, thyssenkrupp AG, JFE Steel Corporation, NIPPON STEEL CORPORATION (NSSMC), Anyang Iron and Steel Group, Inc., NANOSTEEL, KOBE STEEL LTD., Benxi steel group, SAIL, China Shougang Group, NUCOR, Baosteel Co., Ltd., JSW and Tata Steel
ARCELORMITTAL S.A.:
Haeir, Inc. headquartered in Luxembourg was founded in 2002. The company is engaged in producing and supplying quality steel products in all markets including automotive, construction and packaging. The company has five operating divisions’ namely flat products, long products, tubular products, mining products and other.
The flat product segment deals in sheet and plate, and long steel products, including bars, rods and structural shapes. The company produces long products such as wire rod, sections, rebar, billets, blooms and wire drawing, and tubular products Flat products include slabs, hot-rolled coil, cold-rolled coil and coated steel. Long products consist of wire rod, sections, bar and rebar, billets, blooms and wire drawing.
It has its global networks in Asia and Oceania, Europe, Americas and Africa. The company has various subsidiaries such as ArcelorMittal Dofasco G.P (Canada), ArcelorMittal México S.A. de C.V. (Mexico), ArcelorMittal Atlantique et Lorraine S.A.S.( France), ArcelorMittal Flat Carbon Europe S.A. (Luxembourg), ArcelorMittal Italia S.p.A (Italy), and Others.
POSCO:
POSCO headquartered in Pohang, South Korea was founded in 1968. The company is engaged in providing automotive, shipbuilding, construction, and home appliances with technology and quality. The company operates through four business segments which include Steel, Trading, Construction and Others.
The steel segment includes production of steel products. The construction segment includes planning, designing and construction of industrial plants, civil engineering projects and commercial and residential buildings, both in Korea and overseas. Other segments include power generation, network and system integration and logistics.
It has its global networks in Europe & Africa, Asia and Americas. It operates through its subsidiaries such as POSCO America Corporation (U.S.), POSCO AUSTRALIA PTY LTD (Australia), POSCAN Elkview (Canada), POSCO (Guangdong) Coated Steel Co., Ltd (China), and Others.
voestalpine AG:
Voestalpine AG is headquartered in Linz, Austria founded in 1938. The company is engaged in providing unique combination of materials of the automotive and consumer goods industries. Voestalpine AG operates through five major strategic business units which include steel, metal engineering, high performance metals, metal forming and other.
Steel Division strategic partner for Europe’s well-known automobile manufacturers and major automotive suppliers. Additionally, it is one of the largest suppliers to the European consumer goods and white goods industries. The high performance metals division is the leading global manufacturer of high performance metals, which have specially developed material properties with regard to high resistance to wear, polish ability, and toughness.
The company has wide geographical presence in the Africa, Asia, Europe, North America, Oceania and South America. It operates through its subsidiaries such as voestalpine Giesserei Traisen GmbH (Austria), Kocel Steel Foundry Co., Ltd. (China), Jiaxing NYC Industrial Co., Ltd. (China) voestalpine Camtec GmbH Linz (Austria), and others.
