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Introduction

Heat-treated steel plates are used to alter the mechanical and physical properties of steel without changing its shape. The heat treatment process helps to increase or improve hardness, ductility, elasticity, and toughness of the steel. There are four major types of heat treating processes for steel: annealing, tempering, normalizing, and quenching.

Heat-treated Steel Plates Market: Segmentation

The heat-treated steel plates market can be segmented based on steel and application. Based on steel, the heat-treated steel plates market can be segmented into carbon steel, alloy steel, and stainless steel. Carbon steel was a major segment of the market in 2017 and is projected to remain dominant during the forecast period. Carbon steel is the most common type of steel that is readily available at low prices and can be used for a wide range of applications. This is the major factor that is anticipated to drive demand for carbon steel in the coming years. In terms of application, the heat-treated steel plates market can be segmented into automotive, building & construction, ship building, industrial machinery, energy & power, and others. Building & construction was a key application segment in 2017 and is anticipated to remain prominent in the near future. Rise in urbanization and increase in demand for infrastructure such as bridges, dams, commercial hubs, engineering structures are projected to drive demand for heat-treated steel plates during the forecast period.

Heat-treated Steel Plates Market: Region-wise Outlook

Based on region, the heat-treated steel plates market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of consumption, Asia Pacific held a major share of the heat-treated steel plates market in 2017. The region is likely to remain dominant during the forecast period. Rise in demand for steel across various end-use industries in order to cater to the demand of the everincreasing population is anticipated to drive the heat-treated steel plates market in Asia Pacific. China and India are the two major countries that constitute a majority of the demand for heat-treated steel plates. Increase in demand for heat-treated steel plates in construction and industrial machinery in China and India, which are densely populous countries and are considered as global manufacturing hub, is anticipated to propel the market in Asia Pacific between 2018 and 2026. The market in Asia Pacific is estimated to expand at a rapid pace during the forecast period. After Asia Pacific, Europe accounted for a major share of the heat-treated steel market in 2017. Presence of a large number of automotive companies is a significant factor contributing to the demand for heat-treated steel plates in Europe. North America is a prominent region of the heat-treated steel plates market. Presence of major end-user industries such as ship building, defense, and automotive and a revival of the U.S. economy are projected to boost demand for heat-treated steel plates in the region in the near future.The market in other regions such as Latin America and Middle East is expected to expand at a sluggish rate during the forecast period.

Heat-treated Steel Plates Market: Key Players

A large number of companies operate in the global heat-treated steel plates market. They include ArcelorMittal S.A., Posco, Nippon Steel & Sumitomo Metal Corporation, JFE Holdings, Baosteel, and Tata Steel. Major companies in the heat-treated steel plates market adopt strategies such as product expansions and agreements to meet the rising customer demand. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

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TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Heat Treated Steel Plates Market

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