Steel will continue to dominate the automotive industry

A division of the American Iron and Steel Institute (SMDI), expresses confidence that a constant influx of new steels will be able to maintain 60 percent of steel in the materials used in the automotive industry in the future. The SMDI president predicts that steels currently being developed for 2018-2020 vehicles will have an advantage over existing materials in terms of cost and performance.

Fuel economy standards are forcing automakers to look at materials that can help them reduce vehicle weight, including steel. Today's steels are three to five times stronger than aluminum and also stronger than they became available ten years ago. Fuel efficiency trends in the automotive industry require lighter, stronger and more moldable materials. The steel industry can achieve better performance in all three areas than alternatives.

The automotive industry's rate of adoption of advanced high-strength steels is currently only 40-50 percent, which means that most of the vehicle's structure and panels are still made from conventional steel. However, weight savings can now be achieved simply by expanding the use of currently available advanced steels.

According to SMDI, it will take some time to fully utilize the new steels that are being deployed in the automotive industry. This transition may take several years. Steel products will find application in a higher quality segment. Therefore, steels must win the battle with other materials in the near future.