The global heat-treated steel plates market is anticipated to grow at a CAGR of 3.2% during the forecast period. The global heat-treated steel plates market growth is driven by the increasing shipbuilding activities globally, especially in Asia-Pacific countries, such as Japan, South Korea, China, and Southeast Asian countries. Heat-treated steel plates are widely used in shipbuilding for applications, including offshore equipment, repair pieces, and structural parts. Demand for steel plates is projected to rise over the coming years due to the growth of the shipbuilding sector owing to carbo transportation. As per the UNCTAD, in 2016, 10,303 million tons of loads were transported through waterways, which increased to 11,055 million tons in 2019 and 10,631 million tons in 2020.
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In addition, the increased inclination of cargo vessel manufacturers to develop better and more efficient container carriers of different sizes and capacities propels the demand for heat-treated steel plates. Furthermore, the increasing investment by ship manufacturers in eco-friendly ships and digital ship technology including hydrogen infrastructure is likely to boost the product demand during the forecast period. For instance, in September 2021, Hyundai Heavy revealed plans to use about $660 million to invest in future technologies which include digital ship technology. Apart from these, in March 2022, the National Shipbuilding Strategy (NSbS) invested $4.61 billion to galvanize and support shipyards and suppliers across the UK. The investment accelerated the shipbuilding activities along with heat-treated steel plate demand.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
Segment Covered-
- By Type
- By Process
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- ArcelorMittal S.A., Essar Steel, JFE Holdings, Inc., Nippon Steel Corporation, Novolipetsk Steel, Outokumpu Oyj, POSCO, Tata Steel Europe Ltd., Thyssenkrupp AG, among others.
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Heat-Treated Steel Plates Market Report by Segment
By Type
- Carbon
- Alloy
- Stainless
By Process
- Quenching & Tempering
- Normalizing
- Case Hardening
- Annealing
By Application
- Construction
- Energy
- Metalworking
- Industrial Machinery & Equipment
- Automotive & Transportation
- Others
Heat-Treated Steel Plates Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Algoma Steel, Inc.
- ArcelorMittal S.A.
- Bisalloy Steel Group, Ltd.
- China Baowu Steel Group Corp., Ltd.
- Essar Steel
- Evraz North America
- Hyundai Steel Co., Ltd.
- JFE Holdings, Inc.
- Jiangsu Shagang Group
- Jindal Steel & Power, Ltd.
- JSW Steel USA
- Nippon Steel Corp.
- Novolipetsk Steel
- Outokumpu Oyj
- POSCO
- Stanch Stainless Steel Co., Ltd.
- Tata Steel Europe Ltd.
- Thyssenkrupp AG
- Triton Alloys, Inc.
- Vítkovice Steel, A.S.
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