Global Heat-treatment Steel Plates Market is valued approximately USD 110.51 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 3.53% over the forecast period 2020-2027.
Heat-treated steel plates are applied for changing the physical as well as mechanical features of steel without altering the shape of the steel.
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Apart from this, the heat-treated procedure assists in enhancing stiffness, elasticity, strength, and ductility of the steel. The global pandemic of COVID-19 inversely affected the growth of market due to the closure of factories and manufacturing units in various economies due to the compliance of lockdown & social distancing.
The market of heat-treatment steel plates market is expected to drive in the forthcoming period due to the rapid growth in demand from end-use industries. Thus, global growth in construction sector supported by urbanization and industrialization and automotive sector is surging the demand for heat-treatment steel plates. For instance: as per the National Investment Promotion & Facilitation Agency, the construction industry in India is expected to increase with 5.6% during 2016-20 as compared to 2.9% during 2011-2015. Similarly, construction sector in Germany increased to over USD 571.51 billion in 2016 with 36.4% from over USD 427.84 billion in 2010. Also, according to the International Organization of Motor Vehicle Manufacturer (OICA), The production of passenger cars accounted for around 73.45 million units in the year 2017 as compared to 72.10 million units in the year 2016 on the global scenario. Similarly, the production of commercial vehicles accounted for around 23.84 million units in the year 2017 as compared to 22.87 million units in the year 2016 which included both lightweight commercial vehicles and heavy trucks & buses. In addition, imposition of anti-dumping duties on import is creating a lucrative opportunity for the growth of market over the forecast years.
The regional analysis of global Heat-treatment Steel Plates Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rise in demand from end-use industries. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such imposition of anti-dumping duties on import would create lucrative growth prospects for the Heat-treatment Steel Plates Market across Asia-Pacific region.
Major market player included in this report are:
Nippon Steel & Sumitomo Metal Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Steel Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Steel Type:
Quenching & tempering
Automotive & defense vehicles
Energy & Power
Furthermore, years considered for the study are as follows:
Historical year a?? 2017, 2018
Base year a?? 2019
Forecast period a?? 2020 to 2027
Target Audience of the Global Heat-treatment Steel Plates Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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