Heat-Treated Steel Plates Market Is Projected To Register A Moderate CAGR During The Forecast Period Owing To Widespread Applications Of The Product In Building & Construction Industry

Heat treatment process improves the formability and machinability of the steel plates, which exhibit high strength and retain some degree of ductility.  Based on the desired application, various product such as high-tensile strength steel plates, steel plates for low temperature service, atmospheric corrosion resistant steel plates, abrasion resistant steel plates, and corrosion resistant steel plates are manufactured. These products are largely used in the construction of buildings, bridges, hydropower stations, and offshore structures.

Market Segmentation

The Global Heat-Treated Steel Plates Market has been classified on the basis of type, treatment process, application, end-use industry, and region.

By type, the Global Heat-Treated Steel Plates Market has been segmented into carbon, alloy, stainless steel, and clad steel plates. The carbon steel segment is expected to be the leading type segment of this market owing to its high strength and widespread  use in the construction sector and manufacturing of machine components. It is used to manufacture braces and brackets, which are used in construction applications. In addition, carbon steel plates are used in manufacturing gears, screws, bolts, and other components that are subjected to high wear during the machine operations.

Based on treatment process, Global Heat-Treated Steel Plates Market has been categorized as annealing, hardening, surface hardening, normalizing, spheroidizing, and others. The hardening segment is anticipated to account for the largest share of this market during the forecast period. This can be attributed to the high hardness provided by the process to the steel plates, making them applicable in the building & construction and defense industries.

On the basis of application, the Global Heat-Treated Steel Plates Market has been segmented as bridges, buildings, ships, offshore structures, hydro power stations, storage tanks, boilers and pressure vessels, machinery, and others. The buildings segment is projected to be the leading application segment for this market during the review period. This is mainly due to growing infrastructural developments in the emerging economies and growing industrial constructions requiring high strength steel plates.

Building & construction, energy & power, shipbuilding, defense, and others are the end-use industry segments analyzed for the global Heat-Treated Steel Plates market. The building & construction segment accounted for majority of the Global Heat-Treated Steel Plates Market in 2017. Robust growth of the construction sector and rapid industrialization in the emerging economies are the key factors driving growth of this market during the review period. However, the energy & power segment is anticipated to be the fastest growing segment owing to increasing use of the product in manufacturing of boilers and pressure vessels and hydroelectric power station components.

Regional Analysis

Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa are the five key regions studied for the global Heat-Treated Steel Plates market. In 2017, Asia-Pacific accounted for the largest share of the global Heat-Treated Steel Plates market. This can be attributed to the rising urbanization and increasing consumption of heat–treated steel plates in the building and construction industries.

North America and Europe are the other significant regional markets for Heat-Treated Steel Plates. Increasing constructions of the offshore structures in North America is expected to fuel demand for the product and boost market growth in the years to follow.

Some of the prominent  players in the Global Heat-Treated Steel Plates Market areArcelorMittal (Luxembourg), JFE Holdings, Inc. (Japan), Baosteel Group Hu (China), Nippon Steel & Sumitomo Metal Corporation (Japan), Essar Steel (India) , NLMK Group (Russia), thyssenkrupp AG (Germany), SHAGANG GROUP Inc (China), POSCO (South Korea), Tata Steel (India), SAIL (India), Outokumpu (Finland), and VÍTKOVICE STEEL a.s. (Czech Republic).

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