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Global Heat Treated Steel Plates Market Share, Size, Trends, Forecast: By Type: Carbon Steel, Alloy Steel, Stainless Steel; By Treatment: Quenching, Normalising, Tempering, Annealing; By Application: Automotive and Heavy Machinery, Others; Regional Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Heat Treated Steel Plates Market Outlook
The global heat treated steel plates market size reached a value of around USD 6.04 billion in 2023. The market is expected to grow at a CAGR of 4.1% between 2024 and 2032, reaching a value of around USD 8.69 billion by 2032.
Key Trends in the Market
Heat-treated steel plates are sprayed with water under high pressure on both the top and bottom surface simultaneously. Elasticity, hardness, toughness, and ductility of the steel are increased and improved by the heat treatment process. Their enhanced mechanical and chemical properties have increased their application in various end-user industries. Heat-treated steel plates have longer life for abrasive applications as well as thickness and hardness.
- It is anticipated that rising demand for heat-treated steel plates in industries like aerospace, construction, automotive, and military, among others, will offer considerable revenue potential for producers of heat-treated steel plates. This in turn is expected to boost the heat treated steel plates market share.
- In the automotive and transportation industries, growing concerns pertaining to service life, environmental pollution, and driving comfort are expected to increase the demand for heat-treated steel plates. According to the global heat treated steel plates market report, this increase in demand is also supported by the recyclable nature of the steel.
- A key heat treated steel plates market trend anticipated to propel the growth of the global market is the increasing utilisation of heat treated steel plates by the construction sectors. There is a rising demand for heat treated steel plates for infrastructural development projects such as the production of commercial centres, bridges, dams, and engineering projects.
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Market Analysis
Based on type, the market is divided into carbon steel, alloy steel, and stainless steel. The market on the basis of treatment is segregated into quenching, normalising, tempering, and annealing. Based on application, the heat treated steel plates market segmentation is automotive and heavy machinery, building and construction, ship building and off-shore structures, and energy and power, among others. The regional markets for heat-treated steel plates are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global heat treated steel plates market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- ArcelorMittal S.A.
- POSCO
- Nippon Steel Corporation
- Tata Steel Limited
- JFE Steel Corporation
- Baosteel Group Hu ICP
- Hyundai Steel Co., Ltd.
- ThyssenKrupp AG
- NLMK Group
- Nucor Corporation
- Others
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Market Share by Application
According to the heat treated steel plates market report, automotive and heavy machinery emerged as a leading application in the historical period and are expected to lead the market in the forecast period as well. This is due to the increased toughness, longevity, and resistance to damage of heat-treated steel plates. Additionally, the growing popularity of lightweight and fuel-efficient vehicles has increased the demand for heat-treated steel plates in the automotive industry. Heavy machinery, including moulds, dies, cranes, and construction and earthmoving equipment, are made of high strength heat-treated steel plates. Such factors are expected to contribute towards the growth of the market for heat-treated steel plates in the upcoming years.
Market Share by Region
As per the heat treated steel plates market research, Asia Pacific accounts for a significant share of the market due to rising consumption by shipbuilding, offshore structures, and defence industries. China, India, and Japan are key producers and users of heat-treated steel plates in the Asia Pacific region. Meanwhile, the rise of heat treating operations in countries like Singapore over the past few years has augmented the demand for heat-treated steel plates, thus increasing the heat-treated steel plates market size.
In the upcoming years, North America is anticipated to experience significant growth in the market for heat treated steel plates due to rise in construction investment, ongoing automotive production, and expansion of aerospace manufacturing. Also, the demand for heat treated steel plates is expected to increase in the North America region due to rising spendings by governments in the region on aerospace and defence along with changes in the trade policy, influencing the heat treated steel plates market value.
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Competitive Landscape
ArcelorMittal S.A., headquartered in Luxembourg City, Luxembourg and founded in 2006, is a market leader in multiple global industries, including automotive, construction, home appliances, and packaging. The company also has extensive distribution networks, sizeable captive raw material supplies, and cutting-edge research and development and technology. A variety of completed and semi-finished steel products are produced and sold by this company.
POSCO, founded in 1968, is an integrated steel manufacturer with its headquarters in North Gyeongsang, South Korea. The company supplies silicon steel sheets, hot-rolled and cold-rolled goods, plates, wire rods, and stainless-steel products for the engineering, automotive, and machinery industries. POSCO also engages in activities related to network and system integration, raw material and steel trade, and power generation.
Nippon Steel Corporation, established in 1950 and based out of Tokyo, Japan, is a leading producer of steel goods, manufacturing and producing steel and related products for a variety of industrial uses. Flat products, structural steel, bars and wire rods, pipes and tubes, steel plates, fabrications goods, railroad vehicle and equipment parts, titanium, and speciality stainless steel products are all part of its product line.
Other market players include Tata Steel Limited, JFE Steel Corporation, Baosteel Group Hu ICP, Hyundai Steel Co., Ltd., ThyssenKrupp AG, NLMK Group, and Nucor Corporation, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Treatment |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Heat Treated Steel Plates Market Analysis
8.1 Key Industry Highlights
8.2 Global Heat Treated Steel Plates Historical Market (2018-2023)
8.3 Global Heat Treated Steel Plates Market Forecast (2024-2032)
8.4 Global Heat Treated Steel Plates Market by Type
8.4.1 Carbon Steel
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Alloy Steel
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Stainless Steel
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.5 Global Heat Treated Steel Plates Market by Treatment
8.5.1 Quenching
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Normalising
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Tempering
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Annealing
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.6 Global Heat Treated Steel Plates Market by Application
8.6.1 Automotive and Heavy Machinery
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Building and Construction
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Ship Building and Off-Shore Structures
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Energy and Power
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 Others
8.7 Global Heat Treated Steel Plates Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2023)
8.7.3.3 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2023)
8.7.4.3 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2023)
8.7.5.3 Forecast Trend (2024-2032)
9 North America Heat Treated Steel Plates Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Heat Treated Steel Plates Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Heat Treated Steel Plates Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Heat Treated Steel Plates Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Heat Treated Steel Plates Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 ArcelorMittal S.A.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 POSCO
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Nippon Steel Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Tata Steel Limited
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 JFE Steel Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Baosteel Group Hu ICP
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Hyundai Steel Co., Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 ThyssenKrupp AG
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 NLMK Group
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Nucor Corporation
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Heat Treated Steel Plates Market: Key Industry Highlights, 2018 and 2032
2. Global Heat Treated Steel Plates Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Heat Treated Steel Plates Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Heat Treated Steel Plates Historical Market: Breakup by Treatment (USD Million), 2018-2023
5. Global Heat Treated Steel Plates Market Forecast: Breakup by Treatment (USD Million), 2024-2032
6. Global Heat Treated Steel Plates Historical Market: Breakup by Application (USD Million), 2018-2023
7. Global Heat Treated Steel Plates Market Forecast: Breakup by Application (USD Million), 2024-2032
8. Global Heat Treated Steel Plates Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Heat Treated Steel Plates Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Heat Treated Steel Plates Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Heat Treated Steel Plates Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Heat Treated Steel Plates Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Heat Treated Steel Plates Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Heat Treated Steel Plates Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Heat Treated Steel Plates Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Heat Treated Steel Plates Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Heat Treated Steel Plates Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Heat Treated Steel Plates Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Heat Treated Steel Plates Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Heat Treated Steel Plates Market Structure
Key Questions Answered in the Report
In 2023, the global market for heat-treated steel plates attained a value of approximately USD 6.04 billion.
The market is projected to grow at a CAGR of 4.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 8.69 billion by 2032.
The major drivers of the market include the advantages offered by heat treated steel plates, expansion of production units, growing industrialisation, and rising aerospace and defence budgets.
Rising demand for premium steel plates, increasing shipbuilding activities, and large-scale investments in various industrial sectors are the key trends of the market.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Heat treatment increases the wear resistance of the plate by hardening the material and supplementing the strength of the plate.
The various types of heat treated steel plates in the market include carbon steel, alloy steel, and stainless steel.
The significant applications of heat treated steel plates include automotive and heavy machinery, building and construction, ship building and off-shore structures, and energy and power, among others.
The major players in the heat-treated steel plates market, according to the report, are ArcelorMittal S.A., POSCO, Nippon Steel Corporation, Tata Steel Limited, JFE Steel Corporation, Baosteel Group Hu ICP, Hyundai Steel Co., Ltd., ThyssenKrupp AG, NLMK Group, and Nucor Corporation, among others.
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