Asia Pacific tops global high-strength steels market

The global market size is projected to reach at US$21.17 billion by 2021, at a CAGR of 8.2% from 2016 to 2021.

Rapid industrialisation and infrastructure development offer lucrative growth opportunities to players operating in the high strength steels market. The increasing middle class population, which has led to urbanisation and rise in the manufacturing sector, drives the demand of high strength steels in this region.

The Asia-Pacific high strength steels market is expected to grow at the highest CAGR between 2016 and 2021. Economic growth in countries such as China, India, and Taiwan are further propelling the growth of the high strength steels market in the Asia-Pacific region.