Global Heat-Treated Steel Plates Market – Industry Trends and Forecast to 2030

Heat-Treated Steel Plates Market Analysis and Size

In recent years, steel plates with a high product weight, which is realized by thicker, wider and longer plates, have been in high demand in plates due to upscaling of equipment and to lessen construction time and costs. The heat-treated steel plates market will also be driven by growing urbanization, construction activity in emerging economies and large-scale investments in the infrastructure and industrial industries all over the globe. Other factors which are predicted to fuel the market expansion include the growing usage of heat-treated steel plates in shipbuilding, industrial machinery and automotive and defence vehicles.

Data Bridge Market Research analyses that the heat-treated steel plates market is expected to reach USD 9.31 billion by 2030, which is USD 6.59 billion in 2022, registering a CAGR of 4.40% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Heat-Treated Steel Plates Market Scope and Segmentation

Market Definition

Heat treatment is a method of changing the microstructure of alloys and metals, such as steel, to impart qualities that increase the working life of components. Annealing, tempering, normalizing and quenching are different types of heat-treating techniques. The heat treatment method helps in improving and raising the steel’s hardness, elasticity, flexibility and toughness. Heat-treated steel plates play a vital part in the infrastructure, construction and industrial machinery markets owing to their advantages.

Heat-Treated Steel Plates Market Dynamics

Drivers

• Increasing demand for heat-treated steel plates in automotive and transportation sector

Automotive and transportation developed as the largest sector in 2019. Steel is measured to be a sustainable material owing to their recyclability. Thus, increasing concerns regarding service life, environmental pollution and driving comfort are expected to drive the demand for the heat treated steel plates in the automotive and transportation. Moreover, in the automotive and transportation sector, case hardening is mainly used to increase hardness and dynamic and static strength of components over hardened and quench steel because they are not enough sufficient to withstand rotating  and bending stress. Numerous grades of steel plates are used in long member of automotive sections, trucks and structural parts of railways.

• Surging demand of heat-treated steel plates in multiple application

The construction industry’s upbeat position in developing nations and augmented investment in railways, highways and bridges are anticipated to drive up the demand for heat-treated steel plates in the market. The increasing demand of heat-treated steel plates among end-use industries for augmented toughness, hardness, and strength in many areas, tempering and quenching are anticipated to increase at a steady pace. Increasing demand for heat-treated steel plates in industries such as aerospace, construction, automotive and military, among others, is expected to deliver significant revenue potential for the manufacturers of heat-treated steel plate manufacturers, accordingly driving market growth.

Opportunities

• Increasing strategic collaboration

Business collaboration is a major trend which is gaining popularity in the heat-treated steel plate market. Major companies which are operating in the heat-treated steel plate sector are highly focused on business collaboration through strategic partnerships, business contracts and MoUs to strengthen their position. For instance, Tenova LOI Thermprocess is a leading global company in the field of heat treatment plants based in Essen. This company has been contracted by VIZ-Stal which is a part of the Russian NLMK Group, to supply a coating line (DCL) an d decarburization for VIZ-Ekaterinburg Stal's factory in Russia in July 2021. This contract involves heat treatment, supply and monitoring, mechanical and process equipment engineering, and related electrical, control, measurement systems for a DCL line.

Restraints/ Challenges

• Issues associated with usage of heat-treated steel plates

The growth of the heat-treated steel plates market is anticipated to be hindered by the unexpected fluctuations in the prices of raw materials. As a result of this, it disrupted the supply chain of heat-treated steel plates raw materials and pose a major challenge for manufacturers.

This heat-treated steel plates market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the heat-treated steel plates market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Covid-19 Impact on Heat-Treated Steel Plates Market

The growing number of shipbuilding activities is considerably driving the heat-treated steel plate market growth. Heat-treated steel plates are highly used in the construction of passenger ships and cargo, boats, offshore drilling platforms, and other structures and vessels. According to the review of UNCTAD’s maritime transport 2021, ship deliveries were decreased by 12% in 2020, due to lockdown and shut down during covid-19 pandemic. However, there has been an increase in new orders since early 2021. The first half of 2021 saw the uppermost level of new shipbuilding investment, with record-breaking orders for container ships approximately eight times that of the first half of 2020.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In 2021, Tata Steel restarted work on a cold-roll mill complex and pellet plant growth at Tata Steel Kalinganagar. It was paused due to the lockdowns. The growth of the Kalinganagar plant to around 8 million metric tons per annum from 3 million metric tons per annum is anticipated to incur a price of about INR 25,000 crore.
• In 2020, Arjas Steel, one of India's top alloy steel makers, has acquired auto components, Modern Steels' steel and heat treatment equipment for an undisclosed sum. This acquisition delivers Arjas Steel with a total capacity of 4, 50,000 tonnes in specialty steel for the stainless steel, automotive sector, bright bars, and a manufacturing base. Modern Steels meets the requirements of the bearing, engineering, automotive, and allied industries for alloy steel-hot rolled bars.

Global Heat-Treated Steel Plates Market Scope

The heat-treated steel plates market is segmented on the basis of steel type, heat treatment type and end-user industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Steel Type

• Carbon Steel
• Stainless Steel
• Alloy Steel

Heat Treatment Type

• Annealing
• Tempering
• Normalizing
• Quenching

End-user Industry

• Automotive and Heavy Machinery
• Building and Construction
• Ship Building and Off-shore Structures
• Energy and Power
• Other End-user Industries

Heat-Treated Steel Plates Market Regional Analysis/Insights

The heat-treated steel plates market is analyzed and market size insights and trends are provided by country, steel type, heat treatment type and end-user industry as referenced above.

The countries covered in the heat-treated steel plates market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-pacific is expected to dominate the heat-treated steel plates market owing to the strong presence of major market players and a higher consumer demand in this region.

Europe in anticipated to be the fastest growing region in heat-treated steel plates market during the forecast period of 2023-2030 due to the growing major end-user industries such as defence, ship building and automotive in countries in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Heat-Treated Steel Plates Market Share Analysis

The heat-treated steel plates market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to heat-treated steel plates market.

Some of the major players operating in the heat-treated steel plates market are:

• ArcelorMittal (Luxembourg)
• POSCO (South Korea)
• Voestalpine AG (Austria)
• Baosteel (China)
• Nippon Steel Corporation (Japan)
• United States Steel Corporation (U.S.)
• SAIL (India)
• TATA Steel (India)
• Thyssenkrupp AG (Germany)
• JFE Steel Corporation (Japan)
• Esteel (South Korea)
• Hesteel Group Tangsteel Company (China)
• ChinaSteel (Taiwan)
• ESL Steel Ltd. (India)
• Jiangsu Shagang Group Su ICP (China)
• Union Electric Steel Corporation (U.S.)
• Hebei puyang iron and steel group (China)
• Aperam (Luxemborg)
• Sko-Die Inc (U.S.)
• Cleveland-Cliffs Inc. (U.S.)
• Slovenian Steel Group (Slovenia)

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