It has become hard to anticipate about the future in this new world of mobility. Rapid advancements in technology is expected to offer manufacturers in automotive structural steel market with better and improved steel product optionality, inclusive of using thicker slabs along with higher width capabilities. This would be done in order to enhance the quality of products and finished product application alternatives. Rapidly increasing usage of galvanized steel products in automotive structural steel sector is expected to significantly benefit in reducing corrosion issues.
Increasing Prices to Benefit Production of Hot Rolling Automotive Structural Steel
Nippon Steel & Sumitomo Metal Corporation, Japan-based steelmaker, is taking immense efforts in churning out its steel products at maximum capacity as well as prices of the hot rolling automotive structural steel. The company is working towards improving its cost competitiveness, thereby spending more on the production base as well as on the manpower in Japan. Nippon Steel further mentions that it has been making heavy investments in new facilities for the manufacturing of automotive structural steel. Most of all, the company is planning to go overseas with the electric furnaces, given the rapidly increasing demand for domestic automotive structural steel production in various countries across the region.
New Facility to Offer Advanced High-Strength Steel Products
America-based one of the major steel company, Steel Dynamics, Inc. recently announced that it has plans to construct an all-new cutting-edge and EAF (electric-arc-furnace) flat rolling automotive structural steel mill in the U.S. The all-new facility is expected to provide an annual manufacturing capacity of over 3Million tons along with the capacity to produce state-of-the-art and advanced high-strength steel products. The huge project is inclusive of value-added finishing lines, and also galvanizing steel with annual capacity of over 4,50,000 tons. Most of all, the further product offerings are expected to include several flat roll automotive structural steel products such as galvanized steel, cold rolling, hot rolling, painted steel and galvalume, mainly aimed at serving energy, appliance, construction and automotive sectors.
Cold Rolling Manufacturing Process to Gain More Preference in Automotive Structural Steel Landscape
A team of researchers have found out that cold rolling manufacturing process is expected to gain more preference compared to hot rolling manufacturing process in automotive structural steel market. Given the rapidly growing vulnerability of materials with regards to the molten salt corrosion with increasing grain boundary length as well as other microstructural defects are expected to significantly contribute towards material strengthening.
Galvanized Steel Products to Witness Significant Increase in the Automotive Structural Steel Market
On a broader perspective, stringent government regulations in order to cater to the manufacturing standards is likely to drive the production sales of galvanized steel products in the forthcoming years. China is anticipated to be the biggest market for galvanized steel products as the region holds high potential owing to rapidly increasing investments in construction sectors and infrastructure. Growing awareness regarding the durability and strength of galvanized steel products in automotive structural steel sector is expected to result in increased availability of the product in several thicknesses. Galvanized steel products in automotive structural steel sector are mainly utilized for the purpose of developing construction frames dedicated for doors in two wheelers and passenger vehicles. Governments in developing regions are planning to undertake exhaustive cost benefit study before the usage of galvanized steel on the bodies of automobiles. Ministry of highways and road transport are taking immense efforts in making the proposal mandatory for the auto companies for using nearly 70% of the galvanized steel in vehicles.
Addition of Galvanized Steel Production to Benefit California Based Automotive Manufacturer in Enhancing Market Share
Nucor Corp., North-Carolina based steel company has taken immense efforts in producing galvanized steel products at the company’s sheet mill, located in Hickman, Arkansas. The development of galvanized steel production line is a million dollar investment by the company that is likely to be operational by 2021. In the long run, the company is likely to be capable of effectively producing products way beyond the capability of any other North American steel mill.
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