Rising infrastructural developments in the developing economies propel Heat-trea
Posted by rohan on January 21st, 2020
Heat treating is employed to modify the properties of a metal or alloy with the aid of heat. Heat-treated Steel Plates are the modified steel plates that undergo different treatment processes like annealing, hardening, surface hardening, normalizing, and spheroidizing. Due to these properties, Heat-treated Steel Plates are broadly employed in the major end-use markets that include building & construction, energy & power, shipbuilding, and defense, among others. Heat-treated steel plates market was at USD 106.70 billion in 2018. It is expected to reach USD 127.27 billion in 2023 with a CAGR of 3.65%.
Market drivers and restraints:
The rising call for Heat-treated Steel Plates in the construction of buildings, bridges, and offshore structures is estimated to be the primary factor that drives the expansion of this market throughout the forecast period. Fast industrialization and rising infrastructural developments in the growing economies is expected to propel market extension in the future further.
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Report segmented as:
By end use:
The Global Heat-treated Steel Plates Market has been segmented into five major regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific accounted for the highest share of this market in 2017 and is estimated to be the leading regional market throughout the forecast period.
Important market players:
JFE Holdings Inc (Japan), ArcelorMittal (Luxembourg), Essar Steel (India) , NLMK Group (Russia), thyssenkrupp AG (Germany), Nippon Steel & Sumitomo Metal Corporation (Japan), POSCO (South Korea), Tata Steel (India), Baosteel Group Hu (China), SAIL (India), SHAGANG GROUP Inc (China), VÍTKOVICE STEEL a.s. (Czech Republic), Outokumpu (Finland), and Meusburger Georg GmbH & Co KG (Austria), among others are some of the major players in the World Heat-treated Steel Plates Market.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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About the Authorrohan
Joined: September 20th, 2017
Articles Posted: 1,346
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