A new transformation induced plasticity (TRIP) steel containing high volume fraction of martensite was produced by austempering heat treatment cycle. Microstructure and tensile properties of this TRIP steel were investigated and compared to those of a dual phase (DP) steel with high martensite volume fraction. Microstructural analysis showed a mixture of ferrite, bainite, retained austenite and about 25–30 vol% of martensite in the TRIP steel. As a result of the strain induced transformation of retained austenite to martensite, the TRIP steel showed a strength elongation balance of 86% higher than that for the DP steel. In comparison to the commercial TRIP780 steel, the current TRIP steel showed a 15% higher ultimate tensile strength value while maintaining the same level of ductility. TRIP steel also had a larger work hardening exponent than DP steel at all strains.
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