A very fine microstructure, bainite usually consists of ferrite and cementite (similar in constitution to pearlite, but with the ferrite forming by a displacive mechanism similar to martensite formation).

When formed during continuously cooling, the cooling rate to form bainite is higher than that required to form pearlite, but lower than that to form martensite, in steel of the same composition.

Bainite is generally stronger and more ductile compared to pearlite.