Heat-treated Steel Plates Market

Heat-treated Steel Plates Market Size (2024-2029):

The Global Heat-treated Steel Plates Market is expected to grow at a CAGR of 7.12% during the forecast period 2024-2029. The market value was at USD 122.87 billion in 2023 and the value is expected to reach USD 185.63 billion by the end of 2029. 

Market Drivers & Restraints:

Rapid industrialization & urbanization have led to large investments from investors to increase the number of construction activities; the automobile sector has also grown which has caused sudden growth in the market.

The heavy machinery industry is also one of the biggest consumers of this industry after the construction industry. The construction industry is the biggest segment in this market. Heat-treated steel Plates are raw materials for two major industrial sectors.

The shipbuilding industry is also one of the consumers feeding on this industry as a raw material. The increase in industrial waste, lack of awareness of the recyclability of materials & stringent environmental policies are some of the reasons that are inhibiting the growth of the market. A fluctuation in the market is also a negative factor for the market's growth.

HEAT–TREATED STEEL PLATES MARKET REPORT COVERAGE:

Market Segmentation:

Heat-treated Steel Plates Market - By Steel-type:

• Carbon
• Alloys
• Stainless Steel

Heat-treated Steel Plates Market - By Treatment:

• Quenching & Tempering
• normalizing
• Stress Reliving

Heat-treated Steel Plates Market – By Region:

• North America 
• Europe 
• Asia-Pacific 
• Latin America 
• Middle East and Africa 

The Asia Pacific is the largest & fastest growing market in the predicted forecast of all the regions due to rapidly developing economies. India & China are the largest consumers in this region. Large numbers of key market players in the region are one of the reasons for the growth of the market in the region.

Market Key Players:

1. POSCO (South Korea)
2. TATA Steel (India)
3. Baosteel (China)
4. JFE Holdings (Japan)
5. Nippon Steel & Sumitomo Metal Corporation (Japan)
6. ArcelorMittal, ThyssenKrupp AG (Germany)
7. Outokumpu, Novolipetsk Steel,
8. Vitkovice Steel and Essar Steel (India)

POSCO (South Korea) has varied products that can be used in many industries such as the energy sector, shipbuilding, construction, and machinery. Specially treated steel plates are prepared that are more durable corrosion-resistant & have high mechanical strength.

Market Recent Developments:

• A recent study was carried out on the influence of Heat-treated Al-Si coating on the welding and microstructural inhomogeneity of hot-stamped steel resistance nut projection welds. The study was carried out to study the welding range & joint strength (Pull load). Poor weld strength was linked to microstructural inhomogeneity due to the formation of second-phase intermetallic compounds. 

• An experimental study was done on steel 42SiCr when it heats treated by quenching & partitioning treatment its mechanical strength & ductility. It was found that the strength was increased exponentially & high ductility was achieved. Results indicated that the joint formation was very good but a very brittle fracture was also observed when the conventional spot resistance welding process was employed.

• A study was conducted on the role of evolving microstructures on the mechanical behaviour of P92 Steel welded joints in as-welded & post-welded Heat-treated plates. The samples were subjected to two different post-weld heat treatments (PWHT). It was found that samples treated with as-welded (PWDT) had small deposits of ferrite in the weld fusion zone & coarse grain in the Heat-treated zone.

Research Report Key Highlights:

1. The evaluation of the current market for your product or services and the future implications of the market.
2. Addresses the opportunities by better understanding the market through size estimates and growth rate analysis to forecast the market for the future Extensive segmentation to understand the dynamics of the market at a very granular level by splitting down the market to the smallest segment.
3. Addresses the key market dynamics involving the drivers, restraints, and challenges with the aim of providing insights for gaining market share.
4. The factors responsible for the shaping of the industry as it is as a result of the competitive environment are analyzed through Porter’s Five Forces.