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The Global Special Steel Market was valued at USD 198.87 Billion in the year 2020. Steel demand, steel supply capacity, steel trade flows and input materials all impact the sales prices of steel products globally. Steel prices have been increasingly volatile and unpredictable in recent years and the Covid-19 pandemic has not contributed to stabilize prices. Requirements and demand for improved material and energy efficiency, as well as for productivity, are important drivers leading to the growing use of high-strength steels, which provide advantages in the form of stronger, lighter and more durable steel solutions. In emerging markets, including Africa, the Middle East, Latin America and Asia, where the use of high-strength steels is still relatively low, the market potential for high-strength steels is even higher than in mature markets like Europe and North America.

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