Dublin, Oct. 08, 2020 (GLOBE NEWSWIRE) — The “Ultra-High Strength Steel Market – Growth, Trends, and Forecast (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.

The market for the ultra-high strength steel market is expected to grow at a CAGR of more than 6% globally during the forecast period.

Increasing applications in the production of automobiles and growing demand from the construction industry are driving the market growth.

High cost of production and the outbreak of COVID-19 are the reasons expected to hinder the market growth.

Key Market Trends

Growing Demand from Automobile Sector

Asia-Pacific Region to Dominate the Market

Competitive Landscape

The global ultra-high strength steel is partially consolidated in nature with a few major players occupying a significant portion of the market. Some of the major companies are POSCO, Nippon Steel and Sumitomo Metal Corporation, Tata Steel Limited, ArcelorMittal S.A., and ThyssenKrupp AG, among others.