Exploring the Quenched & Tempered Steel Market: Insights into a USD 42.40 Billion Opportunity
Quenched & Tempered Steel Market Overview
The size of the quenched and tempered steel market was estimated at USD 27.29 billion in 2023, and it is anticipated that total revenue will increase at a compound annual growth rate (CAGR) of 6.5% between 2024 and 2030, reaching over USD 42.40 billion.
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Quenched & Tempered Steel Market Regional Insights
Regional analysis is conducted to assess the status of the Quenched & Tempered Steel market in countries belonging to North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The report provides a comprehensive analysis of several factors such as market size, growth rate, and import-export activities, across different regions. The Quenched & Tempered Steel market is segmented broadly into these regions, allowing for a detailed understanding of the market landscape and dynamics in each geographical area.
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Quenched & Tempered Steel Market Segmentation :
by Grade
Grade 80
Grade 400
Grade 500
Others
Grade 80, Grade 400, Grade 500, and Others are the market segments. By 2030, the Grade 80 sector is anticipated to have the biggest market share. Grade 80 steel is ideal for welding because it has the proper quantity of carbon, high hardness, and resistance to abrasion. Heat input, preheat, interpass temperature, and joint constraint level are all carefully considered while using low hydrogen consumables. It is also possible to weld grade 80 steel to other steel grades.
by Steel Type
Carbon
Alloy
Stainless
Tool
The market is divided into four segments: tool, stainless, alloy, and carbon. The carbon steel type segment is anticipated to expand at a compound annual growth rate (CAGR) of during the 2024–2030 forecast period. Ultra-high-carbon steel can be tempered to a high hardness and has a carbon content of 1.0-2.0 percent, whereas extremely strong high-carbon steel has a carbon percentage of 0.6-0.99 percent. In carbon steels, tempering modifies the distribution and size of carbides in martensite, resulting in a microstructure called "tempered martensite." In order to increase their ductility, machinability, and impact strength, normalized steels and cast irons are also tempered.
by Application
Buildings
Automotive
Industrial
Machine Tools
Other Applications
Quenched & Tempered Steel Market Key Players :
1. Hebei Iron and Steel Group
2. ArcelorMittal
3. Baosteel Group
4. Wuhan Iron & Steel Group
5. JFE
6. Anshan Iron & Steel Group
7. Nippon Steel
8. Jiangsu Shagang Group
9. Posco
10. Dillinger
11. Brown McFarlane
12. Leeco Steel
13. Bisalloy Steel
14. Ruukki
15. Nucor Corporation
16. SSAB
