Heat Treated Steel Plates Market is segmented By Type (Carbon Steel, Alloy Steel, Stainless Steel, Tool Steel), By Treatment (Annealing, Normalizing, Stress Relieving, Quenching & Tempering), By Application (Construction, Pressure Vessel, Marine, Military), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 2024 - 2031
Market Overview
Report analyses the Global Heat Treated Steel Plates Market size, shares, recent trends, competitive intelligence, and future market outlook. Demand from Construction, Military, Marine in Asia Pacific is rising. Competitive rivalry intensifies with ArcelorMittal, JFE Holdings, Novolipetsk Steel and others operating in the market.
Heat treated steel plates improve steel's mechanical and physical properties without changing its shape. Heat-treated steel plates are made of steel subjected to a scaling temperature of 500°C. Heat-treated steel plates are commonly used in energy and power, construction, industrial machinery, automotive and defense vehicles, and shipbuilding to change steel's mechanical and physical properties without affecting the steel's shape.
The main reason for the market growth rate is increasing urbanization and rising demand from end-use industries. Furthermore, increased demand from the manufacturing and construction industries and rising demand for infrastructures such as bridges, dams, commercial centers, and engineering projects are expected to fuel market expansion. However, raw material price instability is expected to hamper the market for heat-treated steel plates.
Market Scope and Summary
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Metrics |
Details |
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Market CAGR |
3.44% |
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Segments Covered |
By Type, By Treatment, By Application, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Market Dynamics and Trends
Growing application for machinery production among various end-users is boosting the demand for heat-treated steel plates.
Heat -treated steel plates improve steel's mechanical and chemical properties without altering its original attributes. As a result, they are used by a variety of end-user industries. Because of the quality of heat-treated steel plates, demand from the automobile and industrial machinery industries has increased. Carbon steel is the most widely used steel used in various applications.
U.S. Steel stated in August 2020 that it would invest US$ 750 million to modernize and upgrade its Gary Works factory in Indiana. For instance, Big River Steel announced its decision to expand its Arkansas-based scrap recycling and steel production facilities in November 2020, increasing its hot-rolled steel production capacity to 3.3 million metric tons annually. The expansion could make it easier for the company to produce better grades of electrical steel, which is used in energy-efficient products and hybrid and electric automobiles.
Furthermore, heat-treated steel plates are employed to produce equipment such as gear teeth profiles, gear wheels, brake drums, machines worm steel, crane cable drums, flywheels, railway wheels, boiler mountings, etc. Furthermore, increased demand for tools used in various operations, including cutting, drilling, various movements, drilling, sanding, deformation, and knurling, is expected to continue to drive segment growth. Heat-treated steel is used extensively because it provides hardness, strength,h, and machinability.
However, the growing impact of COVID-19 is expected to decrease the demand and usage of heat-treated steel plates from several end-user industries globally in the short run. Overall, demand for heat-treated steel plates is likely to be impacted by increased industrial machinery use and a decline in demand from the automobile sector in developing nations in the coming years.
Surface distortions that are associated with heat-treated steel plates if the heating is not uniform or the steel is overheated are the major hurdle for the market growth
Heat-treated steel plates are in great demand among various end-users, as they can efficiently improve the steel's chemical and mechanical properties without hampering its original attribute. However, surface distortions associated with heat-treated steel plates if the heating is not uniform or the steel is overheated are the primary hurdle for the market growth.
Furthermore, the carbon content of mild steel can be affected by heat treatment. Heat treatment is commonly used to alter the properties of steel. However, no substantial modifications occur after heat treatment once constructed in the mill and cooled. There are various advantages and disadvantages of using mild carbon steel. There are high chances of surface oxidation or other contamination, not to mention the cost issues required to process the steel plates in the first place.
COVID-19 Impact Analysis on Heat Treated Steel Plates Market
COVID-19 had a huge impact on the market in 2020. Several countries were compelled to lock down due to the pandemic, which closed practically every industry's manufacturing facilities. Metals production, particularly steel production, was disrupted by disruptions in industrial activity. Furthermore, during 2020 the building and construction industry experienced a short slowdown.
Most construction projects worldwide were put on hold for a set period. Furthermore, even when the lockdown measures were lifted, investment plans were lost and planned projects were canceled. The pandemic had a major influence on the automotive industry as well.
Geopolitical challenges such as the trade war between the U.S. and China and the breakout of the coronavirus are two important variables that are expected to limit market development in the short term. China is expected to be the hardest hit by these difficulties as the world's largest industrial hub. Demand for essential commodities such as steel, aluminum, and other metals in the automotive, construction, and industrial machinery sectors is anticipated to be sluggish for a short time due to trade disruptions.
Segmentation Analysis
The global heat-treated steel plates market can be segmented on steel type, treatment, process, application, and region.
The combination of hardening and tempering gives the steel plate outstanding hardness, strength,h and toughness, leading to boosting the segmental demand
The global heat-treated steel plates market is segmented into the process of hardening and tempering, annealing, normalizing, case hardening, and others. Hardening and tempering is the largest process segment and will likely remain so for the forecast period. The combination of hardening and tempering gives the steel plate outstanding hardness, strength, and toughness. The process also reduces the material used and improves the steel plate's machinability and formability.
Hardening is the process of heating steel plates and then cooling them slowly or quickly. The plate's temperature is raised above the upper critical (between 850 and 900oC). The plate is cooled slowly or quickly (depending on steel properties) in a medium such as oil, water, or air. The plate can be heated using induction, an electric oven, a cooker, or a gas stove.
Furthermore, due to its advantages, such as low cost, great strength and hardness,s and the ability to make complicated shapes, case hardening is expected to remain the fastest-expanding category over the projection period. The demand for heat-treated steel plates in this area is projected to rise due to wear resistance and the ability to absorb loads without failure. Annealing is a process of heating steel to high temperatures and then cooling it to room temperature to improve flexibility and toughness.
Geographical Analysis
Asia-Pacific is expected to dominate the global heat-treated steel plate market owing to the highly developed manufacturing sector in China, Japan,n, and India
Continuous regional investments have advanced the construction, energy, and power sectors through the years. The energy and electricity sector has seen a tremendous increase in demand. Boilers, pressure vessels, storage tanks, and other structural sections most typically used in hydroelectric, nuclear, and other energy-producing plants are heat-treated steel plates. As per the International Energy Agency (IEA), Asia-Pacific has been the world's greatest energy consumer in recent years. Even though the global power and energy sector is looking up, the COVID-19 pandemic is predicted to influence the future negatively. Furthermore, China is home to most of the world's power-producing plants. Fuqing 6, Hongyanhe 5, Shidaowan, Tianwan 6, and other planned power reactors in China are now under construction.
Despite experiencing the biggest demand decline in 2020, the China Electricity Council said major power companies' investments grew by 0.3% in 2021. The Chinese state-owned utility State Grid (which accounts for roughly a third of all energy investment) has announced plans to invest 450 billion Yuan in 2020, with ultra-high voltage (UHV) projects accounting for 40% of the total.
In addition, the building industry in Asia-Pacific has been steadily expanding. India, Singapore,e and China have experienced strong growth in recent years.
Companies and Competitive Landscape
The global heat-treated steel plates market is highly competitive with local and global companies. Some prime companies contributing to the market's growth are TATA Steel, Baosteel, Outokumpu, ArcelorMittal, Thyssenkrupp AG, POSCO, JFE Holdings, Nippon Steel & Sumitomo Metal Corporation, Novolipetsk Steel and Essar Steel and others.
The major companies are adopting several growth strategies such as acquisitions, product launches,s and collaborations, contributing to the global growth of the heat-treated steel plates market
In 2018, the SMS group was awarded an order to provide a new heat treatment line, project name "Adjustage II," by Ilsenburger Grobblech GmbH, a wholly-owned subsidiary of the Salzgitter Group. The line is the focal point of a project spearheaded by Salzgitter to boost heavy plate production at its Ilsenburg facility in Germany.
Tata Steel Group
Overview: Tata Steel group is one of the world's growing steel producers, with around 75,000 employees on five continents and a production capacity of approximately 28 million tons. Construction, automotive, packaging, excavation, energy, and aerospace are among the companies that supply high-quality steel products to the world's most demanding markets.
Product Portfolio:
- Boron manganese steel: The 22MnB5, 26MnB5, 27MnB5, 30MnB5, 34MnB5, and 38MnB5 grades are hot-rolled, uncoated materials used largely for complex-shaped end products.
- The material is considered ‘soft' in its 'as-delivered' state, allowing for the formation of relatively challenging shapes. The end product's final strength is usually delivered throughout the customer's heat treatment procedure, resulting in a longer life duration. The boron-manganese product line also has homogeneous material qualities, allowing reliable and predictable end-components performance.
Key Development
- In February 2021, Tata Steel Kalinganagar restarted work on a pellet plant and cold-roll mill complex expansion. Because of the lockdowns, it had to be halted. The cost of expanding the Kalinganagar facility from 3 to 8 million metric tons per annum (mtpa) is projected to be over US$ 322 million (INR 25,000 crore).
