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Steel Market Size for Automotive & Aerospace Applications

Steel Market Size for Automotive & Aerospace Applications

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Steel Market Size for Automotive & Aerospace Applications

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  1. Steel Market Size for Automotive & Aerospace Applications Business Overview, Challenges, Opportunities Analysis and Forecast to 2027 © 2020 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  2. Global Market Scenario of Steel Market Size for Automotive & Aerospace Applications Industry • In the latest research report by steel market size is likely to surpass US$ 175 bn by 2027. • Regarded as the world’s most recycled material, steel market production has witnessed a meteoric rise in the past few years. According to the World Steel Association, 630 megatons of steel are recycled annually. Besides, the year 2017 witnessed material efficiency of recovery and use of steel industry by-products surge to 96.3%. • Steel is being highly sought-after across sectors, including automotive, construction, and transportation as the material of choice in the wake of attributes such as strength, availability, ductility, versatility, and recyclability. When it comes to construction sector, steel bridges are believed to be four to eight-fold lighter than those built from concrete. • Trends in automotive sector • Even though there has been a 13% dip in the crude steel production (137.1 million tons produced in April 2020), trends in automotive sector are poised to fuel the industry growth. Strong demand for advanced high-strength steels is likely to be witnessed as auto makers are gearing to roll out electric and self-driving vehicles. © 2020 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  3. Continue:- • Surged demand from aerospace sector driving growth • While aluminum has been the status quo material for constructing aircraft components, stainless steel is gradually gaining ground as they are perceived to be corrosion resistance and can withstand higher temperature. Moreover, factors such as shear modulus and high tensile strength of stainless steel have made steel a desirable and marketable material for absorbing the impact stresses. • Increased traction for stainless steel market is mainly linked to attributes such as resistance to wear and tear and its ability to handle impact/scratches damage as compared to aluminum parts. As such, steel has become a major revenue pocket in aircraft components, making it apt for aerospace parts, such as fasteners, actuators and landing gear components. • Opportunities in Hot-rolled steel and cold-rolled steel • Hot rolled steel presents massive opportunities for the steel market manufacturers as they have the innate ability to produce larger quantities of steel. © 2020 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  4. Request for sample copy of this research report@ https://www.gminsights.com/request-sample/detail/4522 © 2020 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  5. 360° Industry Analysis • Challenges in the form of aluminum • Notwithstanding steel being stronger than aluminum, the latter has been gaining prominence. Given than stainless steel is a bit heavier, its widespread application in aerospace sector may take a hit. • That said, application of steel in state-of-the-art products and using it to make lighter and flexible products will bode well for stakeholders eyeing to expand their footfalls. By 2050, steel use is set to be 1.5-fold higher than current levels to keep up with the demand of the demography. Request for customization:https://www.gminsights.com/roc/4522 © 2020 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  6. Competitive Analysis: • Gerdau S/A, Nippon Steel & Sumitomo Metal Corporation Daido Steel Co., Ltd., Kobe Steel, Ltd., Tata Steel, Steel Authority of India Limited (SAIL), China Steel Corporation, United States Steel Corporation, Outokumpu OYJ, Celsa Steel UK, NJR Steel ,Thyssenkrupp AG, ArcelorMittal, JFE Steel Corporation, Mechel OAO, Jiangsu Shagang Group, Commercial Metals Company, Nucor Steel, Essar Steel, Acerinox S.A., Hyundai Steel, Jindal Steel & Power Ltd., POSCO, Steel Dynamics, Inc. and Baosteel Group. are some of the key players operating in the Steel Market Size for Automotive & Aerospace Applications. © 2020 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  7. Latest Research Report On Steel Market Size for Automotive & Aerospace Applications@ https://www.gminsights.com/industry-analysis/steel-market-for-automotive-and-aerospace-applications Request for sample of this research report@ https://www.gminsights.com/request-sample/detail/4522 Request for customization: https://www.gminsights.com/roc/4522 © 2020 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  8. Stay In Touch You can visit us at: www.gminsights.com Thank You…! © 2020 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

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