According to a new report from Research and markets, the Automotive Advanced High-Strength Steel (AHSS) materials market is expected to reach $22 billion by 2019. Environmental, governmental, and customer demands to reduce fuel consumption, improve driver safety, ensure product reliability, and increase affordability have prompted the automotive industry and material suppliers to develop a wide range of solutions to meet these requirements. AHSS materials are becoming the dominant engineering alloy for addressing above needs in vehicles because of its affordability, performance, manufacturability, and recyclability.
The report said that the dual phase steel segment will remain the largest segment in the automotive AHSS market during the forecast period. In terms of applications, body and closures segment will be the major segment. ArcelorMittal SA, ThyssenKrupp AG, POSCO, Tata Steel Limited, and SSAB AB are some of the suppliers of AHSS materials for various applications in the automotive industry.