Steel plate analysis
The global heat-treated steel plate market size is projected to grow at a CAGR of 3.53%, and reach US$ 121.77 billion by 2022, from US$ 102.36 billion in 2017, says a new report (ResearchAndMarkets.com). The market is driven by factors such as rapid urbanisation, the rise in construction activities in emerging economies and large-scale investments in the industrial and infrastructure sectors.
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 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,” said the report.
“The global heat-treated steel plates market is dominated by players such as ArcelorMittal (Luxembourg); Thyssenkrupp AG (Germany); POSCO (South Korea); TATA Steel (India); Baosteel (China); Outokumpu (Finland); JFE Holdings (Japan); Nippon Steel & Sumitomo Metal Corporation (Japan); Novolipetsk Steel (Russia) and Essar Steel (India). These players in the main adopted strategies, such as expansions and agreements, to meet demand.”
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