Currently, the steel industry produces more than three and a half thousand different grades of steel, including many of which did not exist just ten years ago.
ArcelorMittal and other steelmakers are producing more and more high-strength steels, mainly to serve automakers looking to reduce vehicle weight in order to reduce emissions and increase mileage.
“Steel is constantly being improved depending on the needs of our customers,” said Matt Spurgeon, Market Development Manager at ArcelorMittal USA, in a press release. “We need to develop new products to stay competitive in the market. At the same time, environmental concerns are increasing the demand for lighter parts, which is also driving new steel grades. ”
For example, the ArcelorMittal Burns Harbor steel mill in Burns Harbor now produces over 170 grades of steel.
“The number of melt grades is not necessarily an indicator of product expansion for sale,” writes ArcelorMittal Burns Harbor in a press release. “In many cases, a new variety can be developed by adjusting the chemistry of what is already being produced to make the properties more consistent.”
“Steel offers customers unique solutions,” said Scott Blazek, Market Development Manager at ArcelorMittal USA, in a press release. “They can use a stronger grade of steel, reduce the thickness and therefore the weight of the part, while improving or maintaining performance. of this component. All this is achievable while reducing the total cost of steel in this area. Only steel offers this combination of cost and weight savings with increased strength. ”
Tighter new government environmental standards around the world have had a lot - but not all - of product development.
“Based on the needs of our customers, steel is constantly evolving,” said Blazek. “We need to develop new products to stay competitive in the market. At the same time, environmental concerns are increasing the demand for lighter parts, which is also driving new steel grades. ”
The market for promising high-strength steels was $ 25.23 billion in 2017, and is expected to reach $ 40.85 billion by 2023. Vehicles such as the Kia Telluride and Cadillac XT6 incorporate more advanced high-strength steel in their designs.
“The trend towards weight loss will continue to evolve,” Spurgeon said. “Each market has its own specific requirements and we adapt our products and processes to the requirements of these industries.”
