openPR Logo
Press release

Heat Treated Steel Plates Market on Track for Strong Growth, Estimated to Grow at 4% CAGR Through 2029

06-24-2025 06:59 AM CET | Chemicals & Materials

Press release from: The Business Research Company

Heat Treated Steel Plates Market

Heat Treated Steel Plates Market

Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations.

What Is the Expected CAGR for the Heat Treated Steel Plates Market Through 2025?
There has been consistent growth in the market size for heat treated steel plates in recent years, with predictions for its continuing growth. From a value of $67.79 billion in 2024, it's expected to augment to $70.14 billion in 2025, reflecting a compound annual growth rate (CAGR) of 3.5%. The factors contributing to this growth during the historical period include infrastructure development, heightened demands from the sectors of automotive and heavy machinery, an increase in demand from construction, a rising demand trend from shipbuilding and offshore structure industries, as well as military and defense applications.

What's the Projected Size of the Global Heat Treated Steel Plates Market by 2029?
The market size for heat treated steel plates is projected to experience consistent expansion in the coming years, reaching $82.09 billion in 2029 with a compound annual growth rate (CAGR) of 4.0%. The expected growth during the forecast period can be linked to the resurgence of infrastructure investments, the expanding renewable energy sector, growth in the automotive industry, increased industrial development, and the growth of the aerospace industry. Significant trends anticipated during the forecast period include improvements in the production of heavy machinery, customization and unique steel alloys, the implementation of digital technology in manufacturing, the creation of ultra-high-strength steel, and the optimization of the global supply chain.

View the full report here:
https://www.thebusinessresearchcompany.com/report/heat-treated-steel-plates-global-market-report

Top Growth Drivers in the Heat Treated Steel Plates Industry: What's Accelerating the Market?
The expansion of the heat treated steel plates market derives considerable momentum from the surge in shipbuilding activities. These types of steel plates are utilised extensively in the crafting of structures like passenger and cargo ships, offshore drilling rigs, boats, and various other vessels. By referencing data from the United Nations Conference on Trade and Development - a Switzerland-based intergovernmental entity, it was noted that merchant fleet or vessel registrations observed an uplift to 103 thousand in January 2022, marking a 9.57% increase year-over-year. Dominating the global shipbuilding space, China, South Korea, and Japan together constitute 94% of all shipbuilding operations globally. Such a rising trend in shipbuilding activities invariably generates immense demand for heat-treated steel plates. Consequently, this escalating count of shipbuilding endeavours is anticipated to catalyze the expansion of the heat treated steel plates market in the forecasted period.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5945&type=smp

What Trends Will Shape the Heat Treated Steel Plates Market Through 2029 and Beyond?
The trend of business collaboration is gaining traction in the heat-treated steel plate market. Major players in this industry are fortifying their market presence via business contracts, partnerships, and MoUs. For example, in May 2023, Aramco, a petroleum refinery company based in Saudi Arabia, formed a strategic partnership with Baoshan Iron & Steel Co., Ltd., a leading steel company based in China, and the Public Investment Fund (PIF) to set up an integrated steel plate manufacturing unit in Saudi Arabia. The creation of the first integrated steel plate manufacturing plant in Saudi Arabia by Aramco, Baosteel, and PIF aims to bolster domestic steel production, lessen import dependence, and propel key sectors such as energy, shipbuilding, and construction. This aligns with the industrial diversification and economic growth goals of Saudi Vision 2030.

What Are the Main Segments in the Heat Treated Steel Plates Market?
The heat treated steel plates market covered in this report is segmented -

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

Subsegments:
1) By Carbon Steel: Low Carbon Steel, Medium Carbon Steel, High Carbon Steel
2) By Alloy Steel: Low Alloy Steel, High Alloy Steel
3) By Stainless Steel: Austenitic Stainless Steel, Ferritic Stainless Steel, Martensitic Stainless steel

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=5945&type=smp

Which Top Companies are Driving Growth in the Heat Treated Steel Plates Market?
Major companies operating in the heat treated steel plates market include ArcelorMittal SA, ThyssenKrupp AG, Pohang Iron and Steel Company, Tata Steel Limited, Baosteel Group, Outokumpu Oyj, Nippon Steel Corporation, Novolipetsk Steel PJSC, Gerdau SA, Jiangsu Shagang Group Company Limited, US Steel Corp., Ansteel Group Corporation Limited, HYUNDAI STEEL Co. Ltd., Allegheny Technologies Inc., China Baowu Steel Group, Kobe Steel SA, Marcegaglia AG, Novolipetsk Steel, Ovako Inc., Salzgitter AG, Severstal Ltd., Steel Authority of India Limited, Sumitomo Metal Industries Ltd., Tenaris SA, Voestalpine AG, Wuhan Iron and Steel Corporation

Which Regions Will Dominate the Heat Treated Steel Plates Market Through 2029?
Asia-Pacific was the largest region in the heat treated steel plates market in 2024.North America is expected to be the fastest-growing region in the forecast period. The regions covered in the heat treated steel plates market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=5945

This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Heat Treated Steel Plates Market on Track for Strong Growth, Estimated to Grow at 4% CAGR Through 2029 here

News-ID: 4078883 • Views:

More Releases from The Business Research Company

Emerging Trends to Reshape the Vertical Farming Market: Technological Advancements And Sustainable Practices In Vertical Farming as a Key Influencer
Emerging Trends to Reshape the Vertical Farming Market: Technological Advancemen …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts. Vertical Farming Market Size Valuation Forecast: What Will the Market Be Worth by 2025? The size of the vertical farming market has seen rapid growth in recent years. Predictions estimate it will increase from $7.74 billion in 2024 to $9.55 billion in 2025. This represents a compound annual growth
Plant Breeding And CRISPR Plants Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Plant Breeding And CRISPR Plants Market Landscape to 2034: Key Forces Shaping th …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts. How Large Will the Plant Breeding And CRISPR Plants Market Size By 2025? In recent years, the market size for plant breeding and CRISPR plants has seen considerable growth. It stands projected to escalate from $13.56 billion in 2024 to a noteworthy $15.5 billion in 2025, boasting a compound
Soaring Demand Set to Propel Livestock Monitoring Market to $7.14 Billion by 2029
Soaring Demand Set to Propel Livestock Monitoring Market to $7.14 Billion by 202 …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts. What Is the Expected CAGR for the Livestock Monitoring Market Through 2025? In recent times, there has been a significant increase in the livestock monitoring market size. The market, which stands at $3.48 billion in 2024, is projected to rise to $3.94 billion by 2025, depicting a compound annual
Emerging Trends to Drive Forestry And Logging Market Growth at 7.9% CAGR Through 2029
Emerging Trends to Drive Forestry And Logging Market Growth at 7.9% CAGR Through …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts. Forestry And Logging Market Size Growth Forecast: What to Expect by 2025? The market size for forestry and logging has seen a substantial growth in the past couple of years. It is expected to increase from $980.05 billion in 2024 to $1055.36 billion in 2025, with a compound annual

All 5 Releases


More Releases for Steel

Steel Beams Market is Booming Worldwide with Steel Dynamics, JSW Steel, JFE Stee …
HTF MI just released the Global Steel Beams Market Study, a comprehensive analysis of the market that spans more than 143+ pages and describes the product and industry scope as well as the market prognosis and status for 2025-2032. The marketization process is being accelerated by the market study's segmentation by important regions. The market is currently expanding its reach. Major Giants in Steel Beams Market are: ArcelorMittal (Luxembourg), Nippon Steel (Japan),
Special Ball Bearing Steel Market : Eminent Players - Nippon Steel, Suzhou Steel …
Market Description - Los Angeles, (United States) - The information made available in the Special Ball Bearing Steel report will definitely facilitate to increase the knowledge and decision-making skills of the business, thus providing an immense opportunity for growth. This will at last increase the return rate and drive the competitive edge within. Being a custom market report, it provides services tailored to the exact challenge. Whether it is survey work,
Miscellaneous Steel Detailing | Steel Detailer | Steel Detailing Services
We provide the highest quality of finished projects in the industry. Boasting unmatched turnaround times, and superb accuracy. WorldSteel Detailings has onboard team of experienced steel detailers and engineers with a wide range of experience from industrial and commercial projects to high rise buildings. By using innovative technologies and latest softwares, our structural steel detailing team provides accurate services as per your requirements based on country standards.Our steel detailing professionals
What's driving the Structural Steel Market trends? ArcelorMittal, Tata Steel, Ni …
A detailed study on ‘Structural Steel market’ formulated by Market Study Report, LLC, puts together a concise analysis of the growth factors impacting the current business scenario across assorted regions. Significant information pertaining to the industry’s size, share, application, and statistics are also summed in the report in order to present an ensemble prediction. In addition, this report undertakes an accurate competitive analysis illustrating the status of market majors in
What's driving the Structural Steel Market trends? ArcelorMittal, Tata Steel, Ni …
A detailed study on ‘Structural Steel market’ formulated by Market Study Report, LLC, puts together a concise analysis of the growth factors impacting the current business scenario across assorted regions. Significant information pertaining to the industry’s size, share, application, and statistics are also summed in the report in order to present an ensemble prediction. In addition, this report undertakes an accurate competitive analysis illustrating the status of market majors in
What's driving the Structural Steel Market trends? ArcelorMittal, Tata Steel, Ni …
A detailed study on ‘Structural Steel market’ formulated by Market Study Report, LLC, puts together a concise analysis of the growth factors impacting the current business scenario across assorted regions. Significant information pertaining to the industry’s size, share, application, and statistics are also summed in the report in order to present an ensemble prediction. In addition, this report undertakes an accurate competitive analysis illustrating the status of market majors in