Press release
Robust Growth in Heat Treated Steel Plates Market: Analysis of Market Size, Key Players, and Trends
Heat Treated Steel Plates Market
Emergence of Advanced Materials drives the Heat Treated Steel Plates Market Growth, Set to reach $82.09 Billion by 2029 with a CAGR of 4.0%
What Is The Projected Market Size Of The Global Heat Treated Steel Plates Market And Its Growth Rate?
o The heat treated steel plates market grew from $67.79 billion in 2024 to $70.14 billion in 2025 at a CAGR of 3.5%
o Driven by infrastructure development and increasing demand from industries like automotive, heavy machinery, shipbuilding and the construction industry.
o The market is expected to grow steadily to reach $82.09 billion in 2029 at a CAGR of 4.0%.
What Is Driving The Growth In The Heat Treated Steel Plates Market?
A significant factor driving the growth of the heat treated steel plates market is the increasing number of shipbuilding activities. Heat-treated steel plates are widely used in the construction of cargo and passenger ships, offshore drilling platforms, boats, and other structures and vessels. For instance, in October 2022, a report from the United Nations Conference on Trade and Development, indicated that the number of merchant fleet registrations increased to 103 thousand in January 2022, with an increase of 9.57% from the previous year. Countries like China, the Republic of Korea, and Japan collectively accounted for 94% of global shipbuilding activities. This surge in shipbuilding activities will significantly enhance the demand for heat-treated steel plates and drive the market growth.
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Who Are the Key Players Driving Heat Treated Steel Plates Market Growth?
Key players in the heat treated steel plates market include:
o ArcelorMittal SA
o ThyssenKrupp AG
o Pohang Iron and Steel Company
o Tata Steel Limited
o Baosteel Group
o Outokumpu Oyj
o Nippon Steel Corporation
o Novolipetsk Steel PJSC
o Gerdau SA
o Jiangsu Shagang Group Company Limited
o US Steel Corp
o Ansteel Group Corporation Limited
o HYUNDAI STEEL Co. Ltd
o Allegheny Technologies Inc
o China Baowu Steel Group
o Kobe Steel SA
o Marcegaglia AG
o Novolipetsk Steel
o Ovako Inc
o Salzgitter AG
o Severstal Ltd
o Steel Authority of India Limited
o Sumitomo Metal Industries Ltd
o Tenaris SA
o Voestalpine AG
o Wuhan Iron and Steel Corporation
What Are The Key Trends In The Heat Treated Steel Plates Market?
Key trends impacting the market growth include:
o Advancements in heavy machinery manufacturing
o Customization and specialized steel alloys
o Digitalization in manufacturing
o Development of ultra-high-strength steel
o Global supply chain optimization
What Are The Segments Of The Global Heat Treated Steel Plates Market?
Market Segments:
1. By Type: Carbon Steel, Alloy Steel, Stainless Steel
2. By Heat Treatment Type: Annealing, Tempering, Normalizing, Quenching
3. By End-User: Automotive And Heavy Machinery, Building And Construction, Ship Building And Off-Shore Structures, Energy And Power, Other End-user Industries
Which Region Leads The Heat Treated Steel Plates Market?
Asia-Pacific was the largest region in the heat treated steel plates market in 2024 with North America expected to be the fastest-growing region in the forecast period. Coverage in the heat treated steel plates market report includes Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Heat Treated Steel Plates Market Global Market Report?
o Market Size Analysis: Analyze the Heat Treated Steel Plates Market size by key regions, countries, product types, and applications.
o Market Segmentation Analysis: Identify various subsegments within the Heat Treated Steel Plates Market for effective categorization.
o Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
o Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
o Market Contribution: Evaluate contributions of different segments to the overall Heat Treated Steel Plates Market growth.
o Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
o Industry Challenges: Analyze challenges and risks affecting the Heat Treated Steel Plates Market.
o Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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