Alloy Steel Materials, Applications and Markets
- An average annual rate (AAGR) of 1.9%, this market will reach $12.5 billion in 2005.
The world market for alloy steels in 2000 was $57.8 billion and is growing at an AAGR of 2.3%. Sales will reach nearly $65 billion in 2005.
The U.S. share of the market is steadily shrinking and dipped below 20% for the first time in 2000. This share will drop to 19.1% in 2005.
Although demand is still rising, domestic companies have been suffering from cheaper imports and inefficient management.
Significant development work is taking place in the alloy steel industry
Steel is considered an alloy steel when the maximum range of alloying elements content exceeds one or more of the following limits: 1.6% Mn, 0.6% Si, or 0.6% Cu. In addition, alloy steels are recognized as containing specific (minimum or otherwise) quantities of Al, B, Cr (up to 3.99%), Co, Ni, Ti, W, V, Zr, or any other alloying elements that is added in order to obtain a desired alloying effect. Various alloy steels provide different kinds of properties. Depending on the properties desired, alloy steels are selected to satisfy specific needs. Alloy steels are being used in our daily domestic, professional, and industrial lives. Thus, the alloy steel market is directly related to the economy. In recent years, domestic steel producers have been plagued by cheaper imports from China, Brazil, Russia, and India, particularly in lower-grade steel. The alloy-steel market improved until the first half of 2000. But the total steel market began suffering again in the second half of 2000, although the general economy did not show a significant slowing trend. The future seems to be uncertain; the market was depressed further toward the end of the fiscal year 2000, primarily because of increased cheap imports and the poor judgement of steel executives.
REASON FOR STUDY AND IMPORTANCE
This report was undertaken because alloy steels are important commodities in our everyday life and are tied to the general economy. Since the general economy has been proceeding with steady expansion, so has the alloy-steel market. Only recently has the market showed a slowing trend. It is important to know the trend of the industry because trends are an indication of the general direction of the economy. In recent years, the steel industry has been hurt by cheaper imports from Russia, Brazil, South Korea, and Japan. Since this is one of the important basic industries, understanding its status is of prime importance. For this reason, a closer look is given to study the current condition of the alloy-steel industry and the direction in which this industry is heading.
CONTRIBUTION OF THE STUDY AND FOR WHOM
This report was undertaken in order to understand the current condition of the alloy-steel industry and to project on its future direction. This comprehensive study will provide an in-depth look at the industry with regard to domestic companies and how they measure up against foreign companies. Because of recent industry globalization, this report will provide an insight into the alloy-steel industry, thus affording a good understanding for those involved in this industry or who are contemplating industry acquisitions or investments. It will also help foster better foresight of the alloy-steel industry, enabling readers to take advantage of better technology, innovation, and marketing tools.
SCOPE AND FORMAT
GB-258 covers different types of steel alloys that are being used in various applications; these alloys will be discussed according to their classifications as defined by the American Iron and Steel Institute (AISI) and the American Society for Testing and Materials (ASTM). They are categorized according to their composition, usage, market demand, and future potential.
The various kinds of alloy steels-their manufacturing, processing, marketing, and uses-will be discussed. The different classes of the materials will be provided, along with their importance. Manufacturing processes, recent developments, and important patents for the past 10 years will be provided. The formatting will be presented in a chronological manner so that the reader can grow in their knowledge of the industry.
The information in this report is presented in a systematic way by indicating the different varieties of steel alloys, their manufacture, properties, and uses. Data is analyzed according to current market value and future growth potential. During the past 10 years, significant changes have taken place in manufacturing controls, alloy-steel selection for specific uses, and the demand from customers for better performance. Hence, special care has been taken to present all of the necessary information on the alloy-steel manufacturing, research, and marketing segments, as well as current status and projections on future potentials.
The primary identification and classification of alloy steels has been obtained from the Carbon and Alloy Steel Division, American Society of Metals. Company directories have been obtained from Iron and Steel Works of the World, Metal Bulletin Books, Ltd. (UK). The manufacturing processes of the primary and finishing products have been obtained from standard books, while market information has been obtained from the publications of the American Iron and Steel Institute, along with the import and export information. Individual industry information has been obtained from direct dialogue with the industry personnel, and environmental information was obtained in part from Association of Iron and Steel Engineers (AISE) publications and in part from direct information from steel companies.