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Heat Treated Steel Plates Market - By Steel Type (Carbon, Alloys, & Stainless Steel), By Treatment (Quenching & Tempering, Normalizing, & Stress Reliving), By Application (Construction, Energy, Industrial Machinery), By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Analysis, Size, Share, Trends, Growth, Trends, Forecast | (2023-2028)

Published: March, 2023
ID: 8133
Pages: 175
Formats: report pdf report excel report power bi report ppt

Heat Treated Steel Plate Market Size (2023-2028)

The heat-treated  steel plates market was estimated at $ 105.64 billion in 2022 and should reach $ 129.82 billion by 2028, at an annual rate of 6.94% from 2023-2028

Heat-treated steel plates are useful for modifying the mechanical and physical properties of steel because they affect or modify the shape. This heat-treated process is useful for increasing and improving the hardness, ductility, elasticity, and toughness of steel. There are four types of heat treatment processes, such as annealing, pooling, normalization, and cooling. Heat-treated steel plates are applied to modify the physical and mechanical characteristics of the steel without altering its shape of steel.

The main players are concentrated in collaboration with other market players to form an efficient distribution chain. In addition to that, the main players are collaborating with other local players to improve their position in the industry, a key fashion currently observed in the worldwide heat-treated steel industry. Hardening involves heating the steel plate, followed by slow or rapid cooling. The plate is heated to a temperature above the upper critical temperature (between 850 and 900°C). The plate is cooled again slowly or quickly (depending on the characteristics of the steel) in a medium such as oil, water, or air. Curing is expected to remain the fastest-growing segment during the forecast period due to its advantages such as low cost, high strength and hardness, and its ability to form complex shapes. It is generally used for low-carbon products due to the low hardenability of these products’ features like wear repellence and the ability to attain stress without failures is probable to escalate the call for heat-treated steel plates in this sector.

Heat Treated Steel Plates Market Drivers and Restraints:

The significant factors predicted to drive expansion in the global heat-treated steel plates industry are increased urbanization, building activities in rising economies, and large-scale funds in businesses and infrastructure worldwide. Also, the escalating call from the manufacturing and construction industries, together with the growing call for infrastructures such as the manufacture of bridges, dams, shopping malls, and engineering structures, are other factors that are predicted to stimulate the expansion of the worldwide heat-treated steel plates industry. Furthermore, the escalating employment of heat-treated steel plates in energy and electronics, industrial machinery, defense, motor vehicles, and shipbuilding are some other reasons that are predicted to augment expansion in the target business throughout the foreseen period.

Nevertheless, certain limits to heat treatment are the factors that are predicted to impede the expansion of the global industry for heat-treated steel plates during the outlook period. The high call for new buildings worldwide due to quick urbanization and industrialization will drive the expansion of the heat-treated steel plate industry in the coming years. In addition to that, the sharp increase in steel call in a large number of end-use sectors will improve industry trends. Apparently, a large-scale allocation of funds for infrastructure and industry expansion will promote the expansion of the global heat-treated steel plate business in the coming years.

HEAT-TREATED STEEL PLATE MARKET REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2022-2028

Base Year

2022

Forecast Period

2023-2028

CAGR

6.94%

Segments Covered

  • By Type
  • By Treatment
  • By Application
  • By Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

  • North America
  • Europe
  • Asia Pacific 
  • Latin America
  • Middle East & Africa

Market Leaders Profiled

ArcelorMittal, Thyssenkrupp AG, POSCO, TATA Steel, Baosteel, Outokumpu, JFE Holdings, Nippon Steel & Sumitomo Metal Corporation, Novolipetsk Steel, and Essar Steel.

 

Heat Treated Steel Plates Market

Market Segmentation 

Heat Treated Steel Plates Market - By Type

  • Carbon steel

  • Alloy steel

  • Stainless steel

The carbon steel type sector led the industry in 2020 and is estimated to be the quickest-developing application in the next few years, as an output of its economic cost, easy presence, and broad application areas in building and construction businesses.

Heat Treated Steel Plates Market - By Treatment:

  • Quenching and tempering

  • Normalizing

  • Spheroidizing

  • stress relieving

Development in building spending in the non-residential segment will continue to support the call for heat-treated steel plates.

Heat Treated Steel Plates Market - By Application:

  • Construction

  • Industrial machinery

  • Automotive and defense vehicles

  • Shipbuilding

  • Energy and Power

The energy & power sector is predicted to be the quickest-advancing sector in the target industry throughout the foreseen period. 

Heat Treated Steel Plates Market - By Region:

The Heat Treated Steel Plates Report includes the segmentation of Regions with their respective Countries.

  • North America Heat Treated Steel Plates Industry includes the U.S. and Canada.

  • Europe Heat Treated Steel Plates Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.

  • Asia Pacific Heat Treated Steel Plates Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.

  • Latin America Heat Treated Steel Plates Industry includes Brazil, Mexico, Argentina, Chile & the Rest of LATAM.

  • Middle East & Africa Heat Treated Steel Plates Industry includes KSA, UAE, Israel, the rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, and the rest of MEA.

Asia-Pacific led the heat-treated steel plates market in the year 2019. China holds a major contribution to a significant market share in the Asia-Pacific market. The easy presence of raw materials and low-cost labor, together with the high domestic calls, make this market very attractive to industry participants. The expansion of the middle-class population and the escalation in the way of living of the population is predicted to boost the call for heat-treated steel plates owing to the increased call for steel in various industries. The market in this region is growing rapidly thanks to the presence of many leading players. In 2019, Asia-Pacific is considered to be the largest consumer of heat-treated steel sheets, with China, India, Japan, South Korea, and Australia being the main markets. The Asia-Pacific heat-treated steel plate market is expected to experience the highest annual growth rate during the outlook period. The growth of the building and construction industry and the economic advancement of the region have resulted in an escalation in the call for heat-treated steel plates.

Recent Developments:

  • HTF MI recently launched the Global Heat-treated Steel Plates study with 100+ market data Tables, Pie Chat, Graphs & Figures spread through Pages, and easy to understand detailed analysis. At present, the market is developing its presence. 

  • Tata Steel introduces long-length wear-resistant rail for the global industry. Tata Steel on this day has introduced the latest state-of-the-art place that will produce a train tracks capable of lasting up to three times longer than normal rail.

Major Key Players:

  1. ArcelorMittal
  2. Thyssenkrupp AG
  3. POSCO
  4. TATA Steel
  5. Baosteel
  6. Outokumpu
  7. JFE Holdings
  8. Nippon Steel & Sumitomo Metal Corporation
  9. Novolipetsk Steel
  10. Essar Steel

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