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Quenched & tempered steel is a high strength and abrasion resistant steel with high fabrication qualities and mechanical properties. Steel is subjected to processes such as quenching and tempering in order to increase its hardness and strength. The process of quenching comprises heating of steel, followed by immediate cooling in water, oil, and forced air or inert gases such as nitrogen. The process of quenching is tightly monitored and controlled with respect to parameters such as heating temperature, cooling method, and cooling speed depending upon the hardness required. After the steel has been quenched to a required hardened state, it is subjected to tempering to achieve greater toughness and ductility by decreasing hardness. Tempering is achieved by heating the steel to below the critical point for a period of time and allowing it to cool in still air at a particular cooling rate. Parameters such as heating temperature and time are dependent on hardness and mechanical properties of the steel desired. Tempering enables quenched steel to become less ductile and more brittle without compromising hardness. As a result of these two processes, the steel becomes harder and tougher with more weldability and ductility than other grades of steel. Quenched & tempered steel is used in machinery, and plants and equipment where greater abrasion resistance coupled with higher strength is pre-requisite for applications such as mining, earth moving, and construction.

Quenched & tempered steel has high yield strength and is an ideal choice for low weight applications that require high carrying capacity. Quenched & tempered steel is used in construction sites in dumping truck bodies, storage bins, and hoppers, as it is light weight and maintains the required strength.

In terms of grade, the market for quenched & tempered steel can be segmented into grade 80, grade 400, and grade 500. Grade 80 steel is a high hardness, abrasion-resistant steel with appropriate carbon percentage to optimize welding. Grade 80 steel can be welded to itself and other grades of steel provided low hydrogen consumables are used and attention is paid to preheat, interpass temperature, heat input, and the degree of joint restraint. Grade 400 is a high hardness, abrasion-resistant steel. Grade 400 plate can be successfully cold formed, provided allowances are made for the high strength of the steel. Grade 500 is a medium carbon, high hardness, and abrasion-resistant steel. Grade 500 steel offers long shelf life in sliding abrasion applications such as dump truck wear liners, cutting edges, earthmoving buckets, and ground-engaging tools. Based on application, the market for quenched & tempered steel can be divided into automotive, construction, mining, industrial equipment & machinery, storage tanks, and others.

In terms of geography, North America dominates the quenched & tempered steel market due to its development plans to refurbish infrastructure. Demand for quenched & tempered steel is high in countries such as France, Germany, and the U.K. in Europe owing to the increase in industrial activities. Countries such as China, India, and Japan in Asia Pacific are emerging markets for quenched & tempered steel due to the rapid industrialization and development of smart cities. After the economic slowdown, countries in Latin America such as Brazil and Mexico are beginning to invest in quenched & tempered steel. This is expected to boost the market in the near future.

Key players operating in the quenched & tempered steel market include ArcelorMittal, Nippon Steel, Leeco Steel, Bisalloy Steel, and Posco. 

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.

2. Insights and Tools

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?

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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Quenched Tempered Steel Market

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