The automobile industry is presently focusing on processing of advanced steels with superior strength–ductility combination and lesser weight as compared to conventional high-strength steels. Advanced high-strength steels are a new class of materials to meet the need of high specific strength while maintaining the high formability required for processing, and that too at reasonably low cost. First and second generation of advanced high-strength steels suffered from some limitations. First generation had high strength but low formability while second generation possessed both strength and ductility but was not cost effective. Amongst the different types of advanced high-strength steels grades, dual-phase steels, transformation-induced plasticity steels, and complex phase steels are considered as very good options for being extended into third generation advanced high-strength steels. The present review presents the various processing routes for these grades developed and discussed by different authors. A novel processing route known as quenching and partitioning route is also discussed. The review also discusses the resulting microstructures and mechanical properties achieved under various processing conditions. Finally, the key findings with regards to further research required for the processing of advanced high-strength steels of third generation have been discussed.
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