Market Trends of Asia Pacific Automotive AHSS Industry
This section covers the major market trends shaping the APAC Sutomotive AHSS Market according to our research experts:
Advancement in AHSS Driving the Market
The steel composition involves 34% as the body structure, panels, doors, and trunk closures, giving it an energy absorption as well as high-strength and in case of a crash. 23% is the engine and machinable carbon steel for the wear-resistant gears. 12% is used in the suspension, using rolled high-strength steel and the remainder in the wheels, tires, fuel tank, steering, and braking systems.
To produce higher strength for reduced steel section size and weight, automakers use less material, significantly reducing a vehicle’s weight. The steel industry is focusing on developing different alloys for processing combinations, steel with high tensile strength and ductility, along with optimizes chemical compositions to achieve multiphase microstructures of AHSS.
Other advancements include the expanded capabilities to automotive steels that have high strength, which enable the design of thinner parts optimizing stiffness but maintaining geometries. AHSS such as Nano Steel helps deliver thinner gauges of steel and components to manufacture at room temperature.
China and India Are Expected to Witness the Fastest Growth in The Asia-Pacific Region
With the increase in the automotive industry, the lightweight market is experiencing a steady increase in the Chinese automotive industry. Although there is a rise in income levels and rapid growth in the manufacturing sector, yet there is a more increased awareness about fuel efficiency and environmental benefits. As a result, major players in this region offer highly competitive solutions that put other players in the other areas under pressure.
China recorded a 14% increase in car sales compared to 18 million units sold in 2018. In 2020, 35% of worldwide automotive is accounted for by Chinese growth. Operations shall resume after the Covid-19 pandemic with stainless steel strip and cold-rolled steel to see an increase in production from 10% to 13%.
Over in India, Maruti Suzuki has optimized the overall system like instead of manufacturing separate components, AHSS is used for energy absorption in case of a car crash. While Ultra High Strength Steel (UHSS) is used in the passenger cabin. All this has improved the overall performance and has helped achieve an efficient platform, optimized structures, and advanced materials like 40% high tensile steel.
