Automotive industry boosts production of HSS

The automotive industry is driving up demand for HSS. In 2021, the steel market is expected to exceed $ 21 billion.

In 2015, the HSS market was $ 14.27 billion and is expected to reach $ 21.17 billion in 2021. The report indicates that the outlook for the HSS market between 2016 and 2021 is characterized by a CAGR of 8.2 percent.

The most important advantages of HSS include the fact that these steels have high tensile strength and good weldability. High strength allows you to achieve the same characteristics of the final product using less material, which is very important in the context of the trend to reduce vehicle weight.

The leading manufacturers of HSS are: Steel Corporation USA (US), Voestalpine AG (Austria), SSAB (Sweden), Shandong Steel Group (China), PARUS (India), Tata Steel (India), Nippon Steel and Sumitomo Metal Corporation (Japan) , POSCO (South Korea), Baosteel Group (China), Severstal OJSC (Russia) and ThyssenKrupp AG (Germany).

The automotive industry is the largest, but not the only recipient of this steel. The report predicts that the Asia-Pacific region will experience the largest cumulative annual growth, due to the region's dynamic development, rapid urbanization and manufacturing activities that increase the consumption of high-strength steel.