Global heat-treated steel plates market was estimated at over USD 87,393 million in 2018 and is projected to accrue USD 129,759 million by 2025 growing at a CAGR of nearly 6% during 2019-2025.
The global heat-treated steel plates market was estimated at over USD 87,393 million in 2018 and is projected to accrue USD 129,759 million by 2025 growing at a CAGR of nearly 6% during 2019-2025. The report offers valuation and analysis of the heat-treated steel plates market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on value (USD Million).
Heat-treated steel plates are applied for changing the physical as well as mechanical features of steel without altering the shape of the steel. Apart from this, the heat-treated procedure assists in enhancing stiffness, elasticity, strength, and ductility of the steel.
Key Driving Factors
The massive demand for new edifices across the globe as a result of swift urbanization & industrialization will steer the growth of the heat treated steel plates industry over the forthcoming years. Additionally, the surge in the demand for steel in a plethora of end-use sectors will embellish the industry trends. Apparently, large-scale fund allocation for infrastructural & industrial growth will proliferate the expansion of the heat-treated steel plates industry over the upcoming years.
Additionally, the prominent rise in the construction activities across the globe will spearhead the expansion of the heat-treated steel plates industry over the forthcoming years.
Asia Pacific To Dominate Overall Market Growth By 2025
The growth of the regional market over the forecast period is owing to an increase in the use of steel across the surging building & construction activities. Furthermore, the flourishing construction sector will amplify the growth of the market in the Asia Pacific region over the forecast period. Furthermore, India and China are projected to be the key demand pockets of the regional market over the forecast timeline.
Key players influencing the growth of the heat-treated steel plates market and profiled in the report include Baosteel, Nippon Steel & Sumitomo Metal Corporation, Thyssenkrupp AG, Essar Steel, ArcelorMittal, JFE Holdings, TATA Steel, POSCO, Outokumpu, and Novolipetsk Steel.
The global heat-treated steel plates market is segmented as follows:
By Steel Type: