High Strength Low Alloy (HSLA) Steel Market To Reach USD 18.95 Billion By 2026| Reports And Data

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NEW YORK, May 30, 2019 (GLOBE NEWSWIRE) -- The global High Strength Low Alloy (HSLA) steel market is expected to reach USD 18.95 Billion by 2026, according to a new report by Reports and Data. HSLA is an acronym for high-strength low-alloy steel. It is a type of carbon steel where small amounts of alloying elements are added primarily to increase the strength of the steel. In comparison to carbon steel, this kind of high strength steel has better corrosion resistance in addition to greater mechanical properties.

Increasing demand from the automotive and the structural engineering sectors, which are the chief consumers of the product in the market is likely to stimulate demand in the future. Moreover, the essential applications of HSLA steel in oil & gas sector is anticipated to boost the growth of the market in the upcoming years         

Grades like improved-formability HSLA steels (ASTM A715 grade for steel sheet, and ASTM A656 grade for steel plates) have maximum yield strengths of 80,000 psi. These high strength steels were developed mainly for the automotive industry to substitute low-carbon steel parts with thinner cross-section parts for weight reduction without forgoing strength and dent resistance. Typical applications in passenger car segment comprise door-intrusion beams, reinforcing and mounting brackets, chassis members, steering and suspension parts, bumpers, and wheels.

The greater tensile strength makes the product more durable and increases longevity. Hence, it finds application in oil storage tanks, street lighting poles, and earth moving equipment.

Equipment like cement mixers, power cranes, trucks, trailers, farm machinery, and power-transmission towers deploy HSLA bar, with minimum yield strengths varying from 50,000 to 70,000 ps. Also, products containing nitrogen are found in weldable reinforcing bars owing to nitrogen’s positive impact on creep strength, steam and gas turbine components, and boiler tubes.

The high cost of High Strength Low Alloy (HSLA) steel may hamper the growth of the market in the forecast period.

For the purpose of this report, Reports and Data have segmented global High Strength Low Alloy (HSLA) steel market on the basis of category, process, application, and region:                        

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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Globe Newswire: 18:31 GMT Thursday 30th May 2019

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