The global high-strength steel market will grow steadily by 5% annually for the next 5 years
Global sales of high-strength sheet steel will grow at a steady rate of about 5% per year until 2027, according to Fact.MR's forecast released this week.
Abrasion-resistant steel sheets and high-strength steel sheets reduce vehicle weight by 25-40%, as well as limit greenhouse gas emissions, so the consumption of such metal products in the automotive industry will increase significantly over the forecast period.
The mining industry will act as a growth lever for the market and is likely to experience robust growth at an annual growth rate of around 5% over the forecast period.