Heat-Treated Steel Plates Market Forecast and Trends
The global Heat-Treated
Steel Plates market has reached USD 110.56 Billion in 2019 and estimated to
reach USD 141.26 Billion in 2026 and anticipated to grow by CAGR of 3.65%
during the forecast period 2020- 2026. The factors such as rapid urbanization
and increased construction activity in emerging economies, and large-scale
industrial and infrastructure investments are propelling the market of global
Heat-Treated Steel Plates. The increase in disposable incomes of the urban
population is leading to the construction of new houses in urban regions,
thereby giving rise to an increased demand for heat-treated steel plates.
Increasing the use of heat-treated steel sheets in the construction sector is
one of the driving factors for the growth of the global heat-treated steel
sheet metal market. Business products are mainly utilized for maintaining
stability and strength in buildings and bridges. The construction industry is
among the world's fastest-growing sectors.
Furthermore, the increasing
product demand from construction and manufacturing sectors, along with the
growing popularity of infrastructures like bridges, dams, commercial hubs, and
engineering structures, are other aspects that are projected to stimulate the
heat-treated steel plates market development on a global scale.
The surge in the
middle-class population, coupled with an increase in the standards of living of
the people are expected to propel the demand for heat-treated steel plates. The
rise in demand for steel across different industries, easy accessibility of raw
materials, and inexpensive labor, along with significant domestic demand, makes
this market very engaging for industry participants.
Heat-Treated Steel Plates Market Overview:
Heat-treated steel plates
are used to change the Steel's mechanical and physical properties without
altering its form. The heat treatment process helps improve or strengthen
Steel's hardness, ductility, elasticity, and durability. Steel is treated with
four significant types of heat treatment processes: annealing, tempering,
normalizing, and Quenching. The heat-treated steel plates are used in major
energy & power sector boilers, pressure vessels, storage tanks, and other
structural components. Such plates are required for the power sector to
withstand adverse conditions, such as high pressure and high temperature.
A Surge in Demand from
The increase in product
demand from construction and manufacturing sectors, along with the growing
popularity of infrastructures like bridges, dams, commercial hubs, and
engineering structures, are some aspects that are projected to stimulate the
heat-treated steel plates market development. Furthermore, surging applications
of heat-treated steel plates in energy & power, industrial machinery,
automotive & defense vehicles, and shipbuilding are some other factors
expected to stimulate the growth of the market during the forecast horizon.
urbanization in developing countries
The rise in the urban
population coupled with high per capita income generates the demand for steel
products for various purposes, which is fueling the market of heat-treated
steel plates during the forecast period. Due to surging urbanization, the
building & construction activities are growing on a large scale, thereby,
large-scale investments in infrastructure & industrial sectors are taking
Fluctuation in the prices of
The variation in the rates
of Steel may impede the growth of the Steel Processing Market during the
forecast period. Besides, the industry is also impacted by the existence of a
stringent regulatory framework concerning the production and processing of raw
Heat-Treated Steel Plates Market: Steel Type
Based on Steel Type, the
Heat-Treated Steel Plates market segmented into Carbon steel, Alloy steel, and
Stainless Steel. The carbon steel segment has dominance in the global market of
heat-treated steel plates in 2018 and is supposed to continue its dominance in
the forthcoming years. Carbon steel is among the most common steel type, which
is readily accessible at low prices, along with being suitable for utilization
for numerous applications.
Heat-Treated Steel Plates Market: Treatment
Based on Treatment, the
Heat-Treated Steel Plates market segregated into Quenching & tempering,
Normalizing, Spheroidizing, and Stress relieving. The quenching & tempering
segment is anticipated to dominate the market since this treatment method
increases the steel plate's hardness and strength to a great extent.
Heat-Treated Steel Plates Market: Application
Based on Applications, the
Heat-Treated Steel Plates market segmented into Building & Construction,
Industrial Machinery, Automotive & defense vehicles, Shipbuilding, and
Others. The building and construction segment will have expected to hold a
foremost market share in the forthcoming years, owing to the increasing
urbanization and increasing demand for infrastructures like bridges,
engineering constructions, and commercial hubs.
Heat-Treated Steel Plates Market: Regional insights
By geography, the global
Heat-Treated Steel Plates Market segregated into North America, Europe, Asia
Pacific, Middle East & Africa, and Latin America. North America is expected
to record the highest CAGR during the forecast period, owing to the growing
major end-user industries such as defense, shipbuilding, and automotive in
nations in the region. The Asia Pacific has the lion's share of the market for
heat-treated steel plates in 2016 and is predicted to maintain its dominance,
owing to the presence of a large number of players. The easy availability of
cheap labor, raw materials, and notable domestic demand, attracts industry
participants. The rise in the middle-class population and the growth in the
living standards are expected to propel the demand for heat-treated steel
plates owing to the rise in demand for steel across various industries.
Steel Plates Market: Competitive Landscape
The major market players in
the Global Heat-Treated Steel Plates are ArcelorMittal, Posco, Nippon Steel
& Sumitomo Metal Corporation, JFE Holdings, Baosteel, Thyssenkrupp AG, Tata
Steel, Outokumpu, Novolipetsk Steel, Vitkovice Steel, Essar Steel, Hyundai
Steel, Voestalpine, Ansteel, Steel Authority of India Limited, Jiangsu Shagang
Group, Jindal Steel & Power, and other prominent players.
objective of the Study:
To analyze and forecast the
global Heat-Treated Steel Plates market size of the market in terms of value.
To examine the careful
market segmentation and forecast the market size, in terms value, based on the
region by segmenting the Global Heat-Treated Steel Plates market into five
regions, namely, North America, Europe, Asia Pacific, Latin America, and the
Middle East & Africa and their leading countries.
To outline, categorized, and
forecast the global Heat-Treated Steel Plates market based on Steel type,
Treatment, and Application.
To examine competitive
developments like technological advancement, services, and regulative framework
within the global Heat-Treated Steel Plates Market.
To highlight the impact
analysis of the factors affecting the market dynamics such as drivers,
restraints, opportunities, and challenges.
To strategically profile the
key players and comprehensively analyze their market shares along with
detailing the competitive landscape for market leaders.
of the Report:
Historical data – 2016-2019
Base Year – 2019
Forecast – 2020 – 2026
Revenue in USD Million/Billion
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico,
Argentina, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia
By Steel Type, Treatment, and Application
ArcelorMittal, Posco, Nippon Steel & Sumitomo Metal
Corporation, JFE Holdings, Baosteel, Thyssenkrupp AG, Tata Steel, Outokumpu,
Novolipetsk Steel, Vitkovice Steel, Essar Steel, Hyundai Steel, Voestalpine,
Ansteel, Steel Authority of India Limited, Jiangsu Shagang Group, Jindal
Steel & Power, and other prominent players.
By Steel Type
Quenching & tempering
Building & Construction
Automotive & defense vehicles
Middle East & Africa
Questions answered by the report
How will the market drivers,
restraints, and opportunities affect the market dynamics?
What will be the market size
in terms of value and volume and market statistics with a detailed classification?
Which segment dominates the
market or region, and one will be the fastest-growing, and why?
A comprehensive survey of
the competitive landscape and the market participant players
Analysis of strategy adopted
by the key player and their impact on other players.
Scope for the Client
Client satisfaction is our
first and last priority, and that is why BlueWeave Consulting offers
customization according to Company's specific needs. The following
customization options are available for the report:
With five additional company
Additional country analysis
Detailed segment analysis