Heat Treated Steel Plates Market 2030 | An analysis of trends and historical data on emerging markets, company profiles and growth factors to 2030.

Torrance, California, USA -According to the latest study by MarkWide Research, heat treated steel plate marketa compound annual growth rate (CAGR) of 4.1% is expected between 2022 and 2030.

A heat treatment procedure involves a step-by-step procedure that begins with heating the steel plates, continues with changing their physical properties, and ends with cooling the plates after they have been heated.

Carbon steel, alloy steel and stainless steel are some of the most common types of heat treated steel sheets.

Carbon steel is a type of steel that has been heat treated and has been used for various purposes such as pipes, crankshafts, cutting tools, etc.

Different types of heat treatments can be used for various purposes, such as annealing, tempering, normalizing, and quenching. Several industries use these heat treatments, such as automotive and heavy machinery, construction and building, shipbuilding, offshore structures, energy and electrical, as well as several others.

This market is comprised of organizations (organizations, partnerships, and sole proprietorships) that sell heat-treated steel sheets that are used as a means of modifying the microstructure of metals and alloys, including steel and aluminum, to that they may have properties such as improved surface stiffness, temperature tolerance, ductility and resilience which will make them last longer, and that is why it is expected that that they last longer

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Key Market Dynamics:

Market driver –

  • Heat-treated steel sheets are one of the major drivers of the global heat-treated steel sheets market, which is driven by growing demand from the construction industry.
  • Carbon steel is often used in commercial, residential, and industrial buildings, as well as other public infrastructure such as bridges, tunnels, and highways that serve a wide range of uses.
  • Because steel is strong, light and ductile, it makes sense to use it for the construction of buildings and other infrastructure as it is strong, light and ductile.
  • Due to the emergence of many new global infrastructure developments, such as the development of smart cities, technology parks, shopping malls, high-rise buildings, highways and other public infrastructure, the Global construction industry has seen tremendous growth over the past few years. years.
  • Heat treated steel sheets are expected to be in high demand during the forecast period as the modern construction industry demands high strength and cost effective building materials which is expected to drive the demand for steel sheets heat treated.
  • There are many steel products available in APAC, but the most popular steel products are heat treated steel sheets, which are sold mainly in China, India, Japan and the Russian Federation. In the future, this region’s market is expected to grow faster than the South American and European markets.
  • There is a substantial increase in the demand for heat treated steel plate in APAC, owing to the rapid industrialization and infrastructure development taking place in the region, which will enable the steel plate market heat treated to extend over the forecast period.

Market Challenges –

  • Heat-treated steel sheets present one of the major challenges to the growth of the global heat-treated steel sheets market, which is the growing preference for carbon fiber in automotive applications.
  • Due to the need for lightweight automobiles, carbon fiber composites have been increasingly used in automobile manufacturing in recent years.
  • It is possible to reduce the weight of the automobile by 40% to 50% and increase the fuel efficiency by 30% to 35% by using carbon fiber composite materials if these materials are used in the manufacture of the automobile.
  • An increasing number of luxury cars, such as the BMW i8 and BMW 7, are built using carbon fiber reinforced polymers which are gradually being used on a large scale in the large-scale production of luxury cars. .
  • There is increasing pressure on the automotive industry to reduce the weight of its vehicles to meet regulatory requirements for fuel efficiency and emission levels, which has had a negative effect on the sheet metal market. heat-treated steel globally.
  • According to the forecast period, the growth of the market as a whole is expected to be affected by these factors during this period.

During the forecast period of 2022 to 2030, it is expected to increase in the number of construction activities as well as growth in the number of industrial sectors across the world, especially in developing countries, which should support the global market. for heat-treated steel sheets.

REPORT BENEFITS

  • According to the report, the objective of this study is to estimate the Heat Treated Steel Sheet market size and its future growth potential, considering various segments such as steel type, treatment, application and region.
  • Within the scope of the study, we aim to provide in-depth information on the major factors affecting market growth (industry-specific drivers, restraints, opportunities and challenges) along with its drivers.
  • This report analyzes the global Heat Treated Steel Plates market and provides market size and growth projections for the global market, the global Heat Treated Steel Plates market share, market segments and geographies. for Heat Treated Steel Plate, as well as the competitive landscape for Heat Treated Steel Plate, including key competitors’ revenue, profiles and market share.
  • In the Global Heat Treated Steel Sheets Market report, we identify key segments and countries based on market trends and key competitor approaches to identify opportunities and strategies.
  • There is also an analysis of the opportunities in the market which can be exploited by the stakeholders and details of the competitive landscape for the market leaders in the study.
  • There is an in-depth analysis of the core competencies of key market players and a strategic profile of key players.

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Key Players of the Heat Treated Steel Plates Market:

ArcelorMittal (Luxembourg)

Thyssenkrupp AG (Germany)

POSCO (South Korea)

TATA Steel (India)

Baosteel (China)

Outokumpu (Finland)

JFE Holdings (Japan)

Nippon Steel & Sumitomo Metal Corporation (Japan)

Novolipetsk Steel (Russia) and Essar Steel (India).

Heat Treated Steel Plates Market Segmentation Analysis:

By type of steel:

  • Carbon steel
  • Alloy steel
  • Stainless steel

By Treatment:

  • Quenching and tempering
  • Standardization
  • spheroidization
  • De-stressing

By Application:

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

Geographical segmentation of heat treated steel plate market includes:

  • North America
  • Europe
  • Asia Pacific
  • South America
  • The Middle East and Africa

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