Exactitude Consultancy Press Release: Heat Treated Steel Plates Market

The growing demand from the construction industry boosting Heat Treated Steel Plates market’s growth.

Carbon steel is frequently used in commercial, residential, industrial, and other public structures such as bridges, tunnels, and roads. Steel is a durable, lightweight, and ductile metal that can be used to construct structures and other infrastructure. Smart cities, tech parks, shopping malls, high-rise buildings, highways, and other types of public infrastructure are just a few of the numerous new global infrastructure projects that have recently been developed. The modern construction sector is experiencing an increase in demand for high-strength, low-cost building materials, which is expected to fuel demand for Heat Treated Steel Plates over the forecast period, driving the global market for Heat Treated Steel Plates to expand.

Explore 248 market data Tables spread through nearly 151 Pages and in-depth analysis on “Heat treated Steel Plates Market by Steel Type (Alloy steel, Carbon steel, Stainless steel) Treatment (Quenching & Tempering, Normalizing, Spheroidizing, Stress Relieving) Application (Automotive & Transportation, Metalworking, Industrial Machinery & Equipment, Construction) by Region Global Trends and Forecast from 2022 to 2029” With Table of Content

The increasing use of Heat Treated Steel Plates in machinery production by various end-users is driving up demand for Heat Treated Steel Plates market.

Heat Treated Steel Plates improve the mechanical and chemical properties of steel without changing its original properties. As a result, they are used by a wide range of industries. Demand from the automobile and industrial machinery industries has increased due to the high quality of Heat Treated Steel Plates. Carbon steel is the most commonly used steel in a variety of applications.

Furthermore, Heat Treated Steel Plates are used to make gear teeth profiles, gear wheels, brake drums, machines worm steel, crane cable drums, flywheels, railway wheels, boiler mountings, and other equipment. Furthermore, increased demand for tools used in a variety of operations, such as cutting, drilling, various movements, drilling, sanding, deformation, and knurling, is expected to drive segment growth in the coming years. Heat-treated steel is widely used because it has high hardness, strength, and machinability. The combination of hardening and tempering gives the steel plate exceptional hardness, strength, and toughness, resulting in increased segmental demand in Heat Treated Steel Plates Market.

Hardening is the process of heating steel plates and then slowly or quickly cooling them. The temperature of the plate is raised above the upper critical point (between 850 and 900oC). The plate is cooled slowly or quickly in a medium such as oil, water, or air (depending on the steel properties). Induction, an electric oven, a cooker, or a gas stove can all be used to heat the plate. Furthermore, due to its benefits such as low cost, high strength and hardness, and the ability to create complex shapes, case hardening is expected to be the fastest-growing category over the projected period.

The Heat Treated Steel Plates market is facing environmental challenges due to the high energy consumption and greenhouse gas emissions.

With a greater emphasis on sustainability and lowering greenhouse gas emissions, the environmental impact of Heat Treated Steel Plates has come under scrutiny. Because of their high strength, durability, and resistance to wear and tear, Heat Treated Steel Plates are widely used in a variety of industries. However, the production of Heat Treated Steel Plates requires a lot of energy and emits a lot of greenhouse gases, mostly carbon dioxide. The use of fossil fuels in the steel production process, such as coal and natural gas, is a major source of greenhouse gas emissions.

The growing emphasis on sustainability and lowering greenhouse gas emissions has resulted in the adoption of alternative heat-treated steel plate production methods. Electric arc furnace (EAF) steelmaking is one such method, which uses scrap metal as the main feedstock and electricity as the energy source. The EAF method emits fewer greenhouse gases and has a lower carbon footprint than the traditional blast furnace method. In the coming years, the adoption of alternative production methods and the implementation of regulations aimed at reducing greenhouse gas emissions are expected to have an impact on the Heat Treated Steel Plates market.

Asia Pacific will lead the global Heat Treated Steel Plates market.

The Asia Pacific market is expected to dominate the global heat-treated steel plate market. This is primarily due to rising population and rising disposable income levels in the region’s countries. North America is expected to be an emerging market for the global Heat Treated Steel Plates market, with the highest CAGR over the forecast period, owing to the region’s growing major end-user industries such as shipbuilding, defence, and automotive. Furthermore, over the forecast period, the markets in Europe, Latin America, and the Middle East and Africa are expected to register significantly higher revenue growth in the global Heat Treated Steel Plates market.

The global market is fragmented in nature with the presence of various key players such ArcelorMittal SA, Baosteel Group Corp., JFE Holdings Inc., Nippon Steel Corp., NLMK Group, POSCO, Thyssenkrupp, TATA Steel, Outokumpu, Novolipetsk Steel, Vitkovice Steel, Essar Steel, SAIL, Nucor along with medium and small-scale regional players operating in different parts of the world. Major companies in the market compete in terms of application development capability, product launches, and development of new technologies for product formulation.

Key Market Segments

Heat Treated Steel Plates Market by Steel Type, 2020-2029, (USD Billion) (Kilotons)

• Alloy Steel
• Carbon Steel
• Stainless Steel

Heat Treated Steel Plates Market by Treatment, 2020-2029, (USD Billion) (Kilotons)

• Quenching & Tempering
• Normalizing
• Spheroidizing
• Stress Relieving

Global Market by Application, 2020-2029, (USD Billion) (Kilotons)

• Automotive & Transportation
• Metalworking
• Industrial Machinery & Equipment
• Construction
• Others

Global Market by Region, 2020-2029, (USD Billion) (Kilotons)

• North America
• Europe
• Asia Pacific
• South America
• Middle East And Africa

Important Countries In All Regions Are Covered

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