Heat-treated Steel Plates Market to Undertake Strapping Growth During 2026
Heat-treated
steel plates are used to alter the mechanical and physical properties
of steel without changing its shape. The heat treatment process helps
to increase or improve hardness, ductility, elasticity, and toughness
of the steel. There are four major types of heat treating processes
for steel: annealing, tempering, normalizing, and quenching.
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Heat-treated
Steel Plates Market: Segmentation
The
heat-treated steel plates market can be segmented based on steel and
application. Based on steel, the heat-treated steel plates market can
be segmented into carbon steel, alloy steel, and stainless steel.
Carbon steel was a major segment of the market in 2017 and is
projected to remain dominant during the forecast period. Carbon steel
is the most common type of steel that is readily available at low
prices and can be used for a wide range of applications. This is the
major factor that is anticipated to drive demand for carbon steel in
the coming years. In terms of application, the heat-treated steel
plates market can be segmented into automotive, building &
construction, ship building, industrial machinery, energy &
power, and others. Building & construction was a key application
segment in 2017 and is anticipated to remain prominent in the near
future. Rise in urbanization and increase in demand for
infrastructure such as bridges, dams, commercial hubs, engineering
structures are projected to drive demand for heat-treated steel
plates during the forecast period.
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Heat-treated
Steel Plates Market: Region-wise Outlook
Based
on region, the heat-treated steel plates market can be split into
North America, Europe, Asia Pacific, Latin America, and Middle East &
Africa. In terms of consumption, Asia Pacific held a major share of
the heat-treated steel plates market in 2017. The region is likely to
remain dominant during the forecast period. Rise in demand for steel
across various end-use industries in order to cater to the demand of
the everincreasing population is anticipated to drive the
heat-treated steel plates market in Asia Pacific. China and India are
the two major countries that constitute a majority of the demand for
heat-treated steel plates. Increase in demand for heat-treated steel
plates in construction and industrial machinery in China and India,
which are densely populous countries and are considered as global
manufacturing hub, is anticipated to propel the market in Asia
Pacific between 2018 and 2026. The market in Asia Pacific is
estimated to expand at a rapid pace during the forecast period. After
Asia Pacific, Europe accounted for a major share of the heat-treated
steel market in 2017. Presence of a large number of automotive
companies is a significant factor contributing to the demand for
heat-treated steel plates in Europe. North America is a prominent
region of the heat-treated steel plates market. Presence of major
end-user industries such as ship building, defense, and automotive
and a revival of the U.S. economy are projected to boost demand for
heat-treated steel plates in the region in the near future.The market
in other regions such as Latin America and Middle East is expected to
expand at a sluggish rate during the forecast period.
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Heat-treated
Steel Plates Market: Key Players
A
large number of companies operate in the global heat-treated steel
plates market. They include ArcelorMittal S.A., Posco, Nippon Steel &
Sumitomo Metal Corporation, JFE Holdings, Baosteel, and Tata Steel.
Major companies in the heat-treated steel plates market adopt
strategies such as product expansions and agreements to meet the
rising customer demand.
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