Heat-treated Steel Plates Market Size by Steel Type, Treatment, Application, Region, Industry-Wide Analysis, Competitive Landscape Assessment & Long-Term Forecast to 2029
Overview
Heat-treated Steel Plates Market is expected to reach US$ 148.46 Billion by 2029 from US$ 92.81 Billion in 2022 at a CAGR of 6.94%.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Heat-treated Steel Plates Market Snapshot
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Rise in demand from end-use industries, ability to reduce the weight of the structure, growth in demand from the Asia Pacific region, no substitutes for heat-treated steel plates drives the growth of heat treated steel plates market. Volatile raw material prices will hamper the market.
Carbon steel type segment leads the market. Carbon steel type segment offer excellent ductility, hardness, yield strength tensile strength and impact resistance. Stainless steel is second largest segment of the market. Economical price, wide applications in end-use industries and easy availability of carbon steel attracts the market.
Energy & power segment is expected to hold largest shares of the market during the forecast period. This is due to the larges use of heat-treated steel plates in boilers, storage tanks, pressure vessels and other structural parts.
Geographically, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Asia Pacific is expected to be the largest market for heat-treated steel plates during the forecast period. The growth of this region is attributed to the easy availability of raw materials, cheap labour and increasing demand for steel across various end-use industries.
Heat-treated Steel Plates Market Scope: Inquire before buying
| Global Heat-treated Steel Plates Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2022 | Forecast Period: | 2023-2029 |
| Historical Data: | 2017 to 2022 | Market Size in 2022: | US $ 92.81 Bn. |
| Forecast Period 2023 to 2029 CAGR: | 6.94% | Market Size in 2029: | US $ 148.46 Bn. |
| Segments Covered: | by Steel Type | Carbon steel Stainless steel Alloy steel |
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| by Treatment | Quenching & tempering Spheroidizing Normalizing Stress relieving |
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| by Application | Construction Automotive & defense vehicles Industrial machinery Shipbuilding Energy & power |
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Heat-treated Steel Plates Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Heat-treated Steel Plates Market, Key Players are
1. Arcelormittal
2. Nippon Steel & Sumitomo Metal Corporation
3. Posco
4. JFE Holdings
5. Thyssenkrupp AG
6. Baosteel
7. Tata Steel
8. Novolipetsk Steel
9. Outokumpu
10. Vitkovice Steel
11. Hyundai Steel
12. Essar Steel
13. Voestalpine
14. Steel Authority of India Limited
15. Ansteel
Frequently Asked Questions:
1. Which region has the largest share in Global Market?
Ans: Asia Pacific region held the highest share in 2022.
2. What is the growth rate of Global Market?
Ans: The Global Market is growing at a CAGR of 6.94% during forecasting period 2023-2029.
3. What is scope of the Global Market report?
Ans: Global Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Market?
Ans: The important key players in the Global Market are – Arcelormittal, Nippon Steel & Sumitomo Metal Corporation, Posco, JFE Holdings, Thyssenkrupp AG, Baosteel, Tata Steel, Novolipetsk Steel, Outokumpu, Vitkovice Steel, Hyundai Steel, Essar Steel, Voestalpine, Steel Authority of India Limited, and Ansteel
5. What is the study period of this Market?
Ans: The Global Heat-treated Steel Plates Market is studied from 2022 to 2029.