“The heat-treated steel plates market is projected to grow at a CAGR of 3.53% from 2017 to 2022.”
The heat-treated steel plates market size is projected to grow at a CAGR of 3.53%, and reach USD 121.77 billion by 2022 from USD 102.36 billion in 2017. The market is driven by factors such as rapid urbanization, rise in construction activities in emerging economies, and large-scale investments in the industrial and infrastructure sectors.
“Based on type, the carbon steel segment accounted for the largest share of the heat-treated steel plates market in 2016.”
The carbon steel segment is projected to grow at the highest rate, because of its increasing demand from manufacturing and construction industries. The presence of high carbon content lowers the melting point and temperature-resistance of the steel plate. This property of carbon steel is further boosting the demand for carbon heat-treated steel plates.
“The Asia Pacific heat-treated steel plates market is projected to witness the highest growth during the forecast period.”
The Asia Pacific region is projected to be the fastest-growing market during the forecast period. Factors such as the rise in population and increase in income levels are driving the per capita spending on construction. The markets in China and India are projected to be lucrative due to their rising middle-class population and increasing consumer spending on construction sectors.
Breakdown of Primaries
Primary interviews were conducted with a number of industry experts in order to collect data related to different aspects of the market. Estimates reached after analyzing secondary sources were validated through these interviews. Primary sources included professionals such as constructors, heat-treated steel plate manufacturers, distributors, consultants, and academic professionals. The distribution of primary interviews is as follows:
By Company Type: Tier 1 - 40%, Tier 2 - 35%, and Tier 3 - 25%
By Designation: C-level - 35%, Director Level - 40%, and Others - 25%
By Region: North America - 25%, Europe - 10%, Asia Pacific - 40%, Middle East & Africa - 15%, and South America - 10%
Note: The tiers of the companies are defined on the basis of their total revenues, as of 2016.
Tier 1: Revenue > USD 500 million; Tier 2: USD 100 million < Revenue < USD 500 million; Tier 3: Revenue < USD 100 million
The various key players profiled in the report are as follows:
1. ArcelorMittal (Luxembourg)
2. Posco (South Korea)
3. Nippon Steel & Sumitomo Metal Corporation (Japan)
4. JFE Holdings (Japan)
5. Baosteel (China)
6. Thyssenkrupp AG (Germany)
7. TATA Steel (India)
8. Outokumpu (Finland)
9. Novolipetsk Steel (Russia)
10. Essar Steel (India)
The primary objective of this study is to define, forecast, and segment the heat-treated steel plates market on the basis of type, treatment, application, and region. The study also aims at strategically analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the total market. It also provides detailed information about the key market dynamics that include drivers, restraints, opportunities, and industry-specific challenges. In addition, the study analyzes competitive developments such as mergers & acquisitions, expansions, new product developments, and research & development activities in the heat-treated steel plates market.
Reasons to buy the report
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the heat-treated steel plates market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
2. The report helps stakeholders to understand the market and provides information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand their competitors and gain more insights into their position in the business. The competitive landscape section includes new product developments, acquisitions, agreements, partnerships, and expansions.