Heat Treated Steel Plates Market Report 2026

The heat treated steel plates market size has grown steadily in recent years. It will grow from $68.86 billion in 2025 to $71.45 billion in 2026 at a compound annual growth rate (CAGR) of 3.8%. The growth in the historic period can be attributed to increasing adoption of advanced heat treatment technologies, rising demand for high-strength carbon steel plates, growing usage of alloy and stainless steel plates in automotive and heavy machinery, increasing focus on corrosion-resistant and durable steel plates, rising demand for heat-treated steel plates in shipbuilding and energy sectors.

The heat treated steel plates market size is expected to see steady growth in the next few years. It will grow to $81.3 billion in 2030 at a compound annual growth rate (CAGR) of 3.3%. The growth in the forecast period can be attributed to increasing adoption of advanced and automated heat treatment processes, rising focus on sustainable and eco-friendly steel production, growing demand for high-performance steel in automotive and aerospace sectors, expansion of construction and infrastructure projects, increasing usage of alloy and stainless steel in specialized applications. Major trends in the forecast period include increasing adoption of advanced heat treatment technologies, rising demand for high-strength carbon steel plates, growing usage of alloy and stainless steel plates in automotive and heavy machinery, increasing focus on corrosion-resistant and durable steel plates, rising demand for heat-treated steel plates in shipbuilding and energy sectors.

The growing automotive industry is expected to boost the growth of the heat-treated steel plate market going forward. The automotive industry refers to the sector involved in the design, development, manufacturing, marketing, and sales of motor vehicles, including cars, trucks, motorcycles, and other types of vehicles. The heightened demand for heat-treated steel plates arises from their use in producing high-performance components such as engine parts, transmission systems, and chassis, aligning with the automotive industry's pursuit of improved vehicle performance and efficiency. For instance, in June 2023, according to a report published by Cox Automotive, a US-based provider of automotive services and technology, car sales volume will climb by 11. 6% annually to 7. 65 million units in the first half of 2023. This increase was driven by new work (1. 1%) and repair and maintenance (0. 8%). The number of units sold in June is predicted to increase from 1. 1 million to 1. 3 million. Therefore, the growing automotive industry is driving the growth of the heat-treated steel plate market.

Business collaboration is an emerging trend in the heat-treated steel plate market. Major players in this sector are increasingly focusing on strategic partnerships, business contracts, and memorandums of understanding (MoUs) to enhance their market positions. For example, in May 2023, Aramco, a petroleum refining company based in Saudi Arabia, formed a partnership with Baoshan Iron & Steel Co., Ltd., a Chinese steel manufacturer, and the Public Investment Fund (PIF) to establish an integrated steel plate manufacturing complex in Saudi Arabia. This collaboration aims to create the country’s first integrated steel plate manufacturing facility, enhancing domestic steel production capabilities, reducing reliance on imports, and supporting vital industries such as energy, shipbuilding, and construction. This initiative aligns with the goals of Saudi Vision 2030, which seeks to diversify the economy and promote industrial growth.

In February 2023, Nucor Corporation, a US-based steel production company, acquired California Steel Industries Inc. for a deal worth $400 million. Through this acquisition, Nucor established a robust presence in the Western region. It further enhances their capacity to manufacture a broader spectrum of value-added sheet products for the modern economy. California Steel Industries Inc. is a US-based steel processing and finishing company providing steel-hot-rolled bars.

Major companies operating in the heat treated steel plates market report are ArcelorMittal SA, ThyssenKrupp AG, Pohang Iron and Steel Company, Tata Steel Limited, Baosteel Group, Outokumpu Oyj, Nippon Steel Corporation, Novolipetsk Steel PJSC, Gerdau SA, Jiangsu Shagang Group Company Limited, US Steel Corp., Ansteel Group Corporation Limited, HYUNDAI STEEL Co. Ltd., Allegheny Technologies Inc., China Baowu Steel Group, Kobe Steel SA, Marcegaglia AG, Novolipetsk Steel, Ovako Inc., Salzgitter AG, Severstal Ltd., Steel Authority of India Limited, Sumitomo Metal Industries Ltd., Tenaris SA, Voestalpine AG, Wuhan Iron and Steel Corporation.

Asia-Pacific was the largest region in the heat treated steel plates market in 2025.North America is expected to be the fastest-growing region in the forecast period. The regions covered in the heat treated steel plates market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the heat treated steel plates market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The market for heat-treated steel plates consists of sales of manganese steel, nickel steel, nickel-chromium steel, and carbon-molybdenum steel. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.