Heat Treated Steel Plates Market

Global Heat-Treated Steel Plate Market Size (2024 to 2029)

The global heat-treated steel plates market is predicted to grow at a CAGR of 6.94% from 2024 to 2029 and the market size is expected to be valued at USD 168.97 billion by 2029 from USD 120.81 billion in 2024.

MARKET OVERVIEW

Heat-treated steel plates are useful for modifying the mechanical and physical properties of steel because they affect or modify the shape. This heat-treated process is useful for increasing and improving the hardness, ductility, elasticity, and toughness of steel. There are four types of heat treatment processes, such as annealing, pooling, normalization, and cooling. Heat-treated steel plates are applied to modify the physical and mechanical characteristics of the steel without altering its shape of steel.

The main players are concentrated in collaboration with other market players to form an efficient distribution chain. In addition to that, the main players are collaborating with other local players to improve their position in the industry, a key fashion currently observed in the worldwide heat-treated steel industry. Hardening involves heating the steel plate, followed by slow or rapid cooling. The plate is heated to a temperature above the upper critical temperature (between 850 and 900°C). The plate is cooled again slowly or quickly (depending on the characteristics of the steel) in a medium such as oil, water, or air. Curing is expected to remain the fastest-growing segment during the forecast period due to its advantages such as low cost, high strength and hardness, and its ability to form complex shapes. It is generally used for low-carbon products due to the low hardenability of these products’ features like wear repellence and the ability to attain stress without failures is probable to escalate the call for heat-treated steel plates in this sector.

MARKET DRIVERS AND RESTRAINTS

The significant factors predicted to drive expansion in the global heat-treated steel plates industry are increased urbanization, building activities in rising economies, and large-scale funds in businesses and infrastructure worldwide. Also, the escalating call from the manufacturing and construction industries, together with the growing call for infrastructures such as the manufacture of bridges, dams, shopping malls, and engineering structures, are other factors that are predicted to stimulate the expansion of the worldwide heat-treated steel plates industry. Furthermore, the escalating employment of heat-treated steel plates in energy and electronics, industrial machinery, defense, motor vehicles, and shipbuilding are some other reasons that are predicted to augment expansion in the target business throughout the foreseen period.

Nevertheless, certain limits to heat treatment are the factors that are predicted to impede the expansion of the global industry for heat-treated steel plates during the outlook period. The high call for new buildings worldwide due to quick urbanization and industrialization will drive the expansion of the heat-treated steel plate industry in the coming years. In addition to that, the sharp increase in steel call in a large number of end-use sectors will improve industry trends. Apparently, a large-scale allocation of funds for infrastructure and industry expansion will promote the expansion of the global heat-treated steel plate business in the coming years.

REPORT COVERAGE

DETAILED SEGMENTATION OF THE GLOBAL HEAT-TREATED STEEL PLATE MARKET INCLUDED IN THIS REPORT

This research report on the global heat-treated steel plate market has been segmented and sub-segmented based on type, treatment, application, and region.

Global Heat-Treated Steel Plates Market By Type

• Carbon steel
• Alloy steel
• Stainless steel

The carbon steel type sector led the industry in 2020 and is estimated to be the quickest-developing application in the next few years, as an output of its economic cost, easy presence, and broad application areas in building and construction businesses.

Global Heat-Treated Steel Plates Market By Treatment

• Quenching and tempering
• Normalizing
• Spheroidizing
• stress relieving

Development in building spending in the non-residential segment will continue to support the call for heat-treated steel plates.

Global Heat-Treated Steel Plates Market By Application

• Construction
• Industrial machinery
• Automotive and defense vehicles
• Shipbuilding
• Energy and Power

The energy & power sector is predicted to be the quickest-advancing sector in the target industry throughout the foreseen period. 

REGIONAL ANALYSIS

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa 

Asia-Pacific led the heat-treated steel plates market in the year 2023. China has a major contribution to a significant market share in the Asia-Pacific market.

The easy presence of raw materials and low-cost labor, together with the high domestic calls, make this market very attractive to industry participants. The expansion of the middle-class population and the escalation in the way of living of the population is predicted to boost the call for heat-treated steel plates owing to the increased call for steel in various industries. The market in this region is growing rapidly thanks to the presence of many leading players. In 2019, Asia-Pacific is considered to be the largest consumer of heat-treated steel sheets, with China, India, Japan, South Korea, and Australia being the main markets. The Asia-Pacific heat-treated steel plate market is expected to experience the highest annual growth rate during the outlook period. The growth of the building and construction industry and the economic advancement of the region have resulted in an escalation in the call for heat-treated steel plates.

KEY PLAYERS IN THE GLOBAL HEAT-TREATED STEEL PLATES MARKET

ArcelorMittal, Thyssenkrupp AG, POSCO, TATA Steel, Baosteel, Outokumpu, JFE Holdings, Nippon Steel & Sumitomo Metal Corporation, Novolipetsk Steel, Essar Steel are some of the notable companies in the global heat-treated steel plates market.

RECENT HAPPENINGS IN THE MARKET

• HTF MI recently launched the Global Heat-treated Steel Plates study with 100+ market data Tables, Pie Chat, Graphs & Figures spread through Pages, and easy to understand detailed analysis. At present, the market is developing its presence. 
• Tata Steel introduces long-length wear-resistant rail for the global industry. Tata Steel on this day has introduced the latest state-of-the-art place that will produce a train tracks capable of lasting up to three times longer than normal rail.