Heat-Treated Steel Plates Market Size, By Steel Type (Carbon steel, Alloy steel, and Stainless steel), By Treatment (Quenching & tempering, Normalizing, Spheroidizing, and Stress relieving), By Application (Building & Construction, Industrial Machinery, Automotive & defense vehicles, Shipbuilding, and Others), and by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Trend Analysis, Competitive Market Share & Forecast, 2016-26

Global 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.

Global 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.

Growth drivers

A Surge in Demand from End-Use Industries

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.

Surging 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 place extensively.

Restraints

Fluctuation in the prices of Steel

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 materials.

Global 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.

Global 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.

Global 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.

Global 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.

Heat-Treated 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.

The 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.

Scope of the Report:

By Steel Type

·         Carbon steel

·         Alloy steel

·         Stainless Steel

By Treatment

·         Quenching & tempering

·         Normalizing

·         Spheroidizing

·         Stress relieving

By Application

·         Building & Construction

·         Industrial machinery

·         Automotive & defense vehicles

·         Shipbuilding

·         Others

By Region:

·         Asia Pacific

·         North America

·         Europe

·         Middle East & Africa

·         Latin America

Business 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.

Customization 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:

Additional Company Information

With five additional company detail analysis

Additional country analysis