Heat-treated steel plates market is anticipated to grow at a CAGR of 3.2% during the forecast period. The rising demand for heat-treated steel plates from end-user industries such as construction, energy, metalworking, industrial machinery & equipment, and others is the major factor that is accelerating the industry growth. Apart from these, the rising demand for heat-treated steel plates from the shipbuilding industry globally is another prominent aspect of the market growth. Heat-treated steel plates are widely used in shipbuilding for applications, including offshore equipment, repair pieces, and structural parts. Asian countries are likely to create new growth opportunities due to rapid growth in the shipbuilding sector. Steel demand is expected to continue to grow steadily, particularly in Asia, and notably including India. According to Clarksons, China’s shipbuilding totaled 22.8 million compensated gross tons accounting for 50% of the global total, in 2021.
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Apart from these, significant collaboration and new product innovation by market players is another major factor that has boosted the heat-treated steel plates market growth. For instance, in July 2022, Tata Steel Nederland launched Zeremis Carbon Lite, steel with an allocated carbon footprint reduction of up to 100%. With Zeremis Carbon Lite the company meets a growing demand for low-CO2 steel, for instance in consumer-facing industries such as automotive, packaging, and white goods. In addition, in June 2018, to expand its product portfolio and global presence Nippon Steel Corp. acquired Ovako AB, a Sweden-based manufacturer of heat-treated steel plates and special steel.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Heat-Treated Steel Plates Market Report by Segment
- By Type
o Carbon
o Alloy
o Stainless
- By Process
o Quenching & Tempering
o Normalizing
o Case Hardening
o Annealing
- By Application
o Construction
o Energy
o Metalworking
o Industrial Machinery & Equipment
o Automotive & Transportation
o Others
Global Heat-Treated Steel Plates Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global heat-treated steel plates market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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