Heat Treated Steel Plates Market Analysis, Trends, Growth, Research And Forecast 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Heat Treated Steel Plates Global Market Report 2023 identifies increasing number of shipbuilding activities as the major driver for the heat treated steel plates market's growth in the forecast period. Heat-treated steel plates are used in the construction of cargo and passenger ships, offshore drilling platforms, boats, and other structures and vessels. According to UNCTAD's review of maritime transport 2021, ship deliveries were reduced by 12% in 2020, owing primarily to COVID lockdown-induced labour shortages. However, there has been a rise in new orders since early 2021. The first half of 2021 saw the highest level of new shipbuilding investment since the first half of 2014, with record-breaking orders for container ships nearly eight times that of the first half of 2020. This increasing number of shipbuilding activities will invariably create a huge demand for heat-treated steel plates. Hence, the growing number of shipbuilding activities is expected to propel the growth of the heat treated steel plates market over the coming years.

The global heat treated steel plates market size will grow from $64.55 billion in 2022 to $68.5 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The heat treated steel plates market size is expected to grow to $83.48 billion in 2027 at a CAGR of 5.1%.

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Major competitors in the heat treated steel plates market areArcelormittal S.A., ThyssenKrupp AG, POSCO, Tata Steel Limited, Baosteel Group, Outokumpu, JFE Holdings, Nippon Steel Corporation, Novolipetsk Steel, Essar Steel, Gerdau S.A., Jiangsu Shagang Group, US Steel, Ansteel Group Corporation Limited.

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

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The heat treated steel plates market is segmented -
• By Type: Carbon Steel, Alloy Steel, Stainless Steel

• By Heat Treatment Type: Annealing, Tempering, Normalizing, Quenching

• By End-user: Automotive and Heavy Machinery, Building and Construction, Ship Building and Off-Shore Structures, Energy and Power, Other End-user Industries

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.Asia-Pacific was the largest region in the heat treated steel plates market.

The Business Research Company's "Global Heat Treated Steel Plates Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Heat Treated Steel Plates Market Include:
1. Executive Summary
2. Heat Treated Steel Plates Market Characteristics
3. Heat Treated Steel Plates Market Trends And Strategies
4. Heat Treated Steel Plates Market - Macro Economic Scenario
5. Heat Treated Steel Plates Market Size And Growth
……
26. Africa Heat Treated Steel Plates Market
27. Heat Treated Steel Plates Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Heat Treated Steel Plates Market
29. Heat Treated Steel Plates Market Future Outlook and Potential Analysis
30. Appendix

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