Market Overview:
The global heat resisting steels market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for heat resistant steels in various end-use industries, such as aerospace, high speed train, power plant, and others. In terms of type, the austenite segment is expected to lead the global heat resisting steels market during the forecast period. This can be attributed to its properties such as excellent toughness and weldability. In terms of application, the aerospace segment is projected to lead the global market during the forecast period owing to an increase in air travel across different regions.
Product Definition:
Heat-resistant steels are alloys that have been designed to resist high temperatures. They are used in a variety of applications, including aerospace and automotive engineering, where they are called upon to withstand extreme heat without melting or warping.
Austenite:
Austenite is a ferroalloy, consisting of approximately 55% iron and 44% potassium. It has a close resemblance with the mineral corundum (crystalline). The material is produced by the fusion at temperatures greater than 1650 degrees Celsius. The high melting point makes it useful in applications where other alloys would normally be used for low or medium temperature service.
Martensite:
The Martensite phase transition temperature in the range of 1650-1700oC is responsible for providing heat resistant properties to carbon and low alloy steel. It also provides good ductility, malleability, and plasticity to the material. The transformation from austenite to martensite can be attributed to a change in temperature which leads to a rise in the hardness of the steel but keeping its physical properties intact.
Application Insights:
Aerospace was the largest application segment in 2017 and is projected to witness significant growth over the forecast period. The product has a high resistance against corrosion, which makes it suitable for use in aircraft components. It also helps reduce maintenance costs as compared to other materials used for manufacturing aircraft components.
High-speed train (HST) is another prominent application of the product, where it finds applications in parts that come into contact with water or are exposed to moisture such as electrical equipment and brake systems on HSTs. Heat resistant steel can be forged, extruded or drawn as wire and sheet products that meet railway specifications including gauge size and weight restrictions imposed by railways across various countries globally.
Regional Analysis:
North America dominated the global market in 2017. The growth of the region can be attributed to increasing demand from various end-use industries, such as aerospace and defense, transportation and energy. In addition, growing infrastructure activities are expected to drive the regional demand for heat resisting steels over the forecast period.
Asia Pacific is projected to witness significant growth over the forecast period owing to rapid industrialization along with expanding end-use industries in countries such as China and India.
Growth Factors:
- Increasing demand from end-use industries such as automotive, aerospace, and construction
- Growing popularity of heat resistant steels in the form of sheet, strip, and wire products
- Rising investments by key players in research and development to develop new grades of heat resistant steel
- Emergence of nanotechnology-based coatings that can improve the thermal stability and corrosion resistance of heat resistant steels
- Proliferation of advanced manufacturing processes such as laser welding that help reduce manufacturing costs for these steels
Scope Of The Report
Report Attributes
Report Details
Report Title
Heat Resisting Steels Market Research Report
By Type
Austenite, Martensite, Ferrite, Other
By Application
Aerospace, High Speed Train, Power Plant, Others
By Companies
Acerinox, Aperam, Thyssenkrupp, POSCO, Ta Chen International, Jindal Stainless, ATI Metals, AK Steel, Outokumpu
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
179
Number of Tables & Figures
126
Customization Available
Yes, the report can be customized as per your need.
Global Heat Resisting Steels Market Report Segments:
The global Heat Resisting Steels market is segmented on the basis of:
Types
Austenite, Martensite, Ferrite, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Aerospace, High Speed Train, Power Plant, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Acerinox
- Aperam
- Thyssenkrupp
- POSCO
- Ta Chen International
- Jindal Stainless
- ATI Metals
- AK Steel
- Outokumpu
Highlights of The Heat Resisting Steels Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Austenite
- Martensite
- Ferrite
- Other
- By Application:
- Aerospace
- High Speed Train
- Power Plant
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Heat Resisting Steels Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Heat resisting steels are a type of steel that is designed to resist high temperatures. This is important because heat can cause metal to deform and fail, which can lead to accidents. Heat resistant steels are often used in products that need to withstand high temperatures, such as engines and air conditioners.
Some of the key players operating in the heat resisting steels market are Acerinox, Aperam, Thyssenkrupp, POSCO, Ta Chen International, Jindal Stainless, ATI Metals, AK Steel, Outokumpu.
The heat resisting steels market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Heat Resisting Steels Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Heat Resisting Steels Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Heat Resisting Steels Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Heat Resisting Steels Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Heat Resisting Steels Market Size & Forecast, 2020-2028
4.5.1 Heat Resisting Steels Market Size and Y-o-Y Growth
4.5.2 Heat Resisting Steels Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Austenite
5.2.2 Martensite
5.2.3 Ferrite
5.2.4 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Aerospace
6.2.2 High Speed Train
6.2.3 Power Plant
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Heat Resisting Steels Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Heat Resisting Steels Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Austenite
9.6.2 Martensite
9.6.3 Ferrite
9.6.4 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Aerospace
9.10.2 High Speed Train
9.10.3 Power Plant
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Austenite
10.6.2 Martensite
10.6.3 Ferrite
10.6.4 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Aerospace
10.10.2 High Speed Train
10.10.3 Power Plant
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Austenite
11.6.2 Martensite
11.6.3 Ferrite
11.6.4 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Aerospace
11.10.2 High Speed Train
11.10.3 Power Plant
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Austenite
12.6.2 Martensite
12.6.3 Ferrite
12.6.4 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Aerospace
12.10.2 High Speed Train
12.10.3 Power Plant
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Austenite
13.6.2 Martensite
13.6.3 Ferrite
13.6.4 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Aerospace
13.10.2 High Speed Train
13.10.3 Power Plant
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Heat Resisting Steels Market: Competitive Dashboard
14.2 Global Heat Resisting Steels Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Acerinox
14.3.2 Aperam
14.3.3 Thyssenkrupp
14.3.4 POSCO
14.3.5 Ta Chen International
14.3.6 Jindal Stainless
14.3.7 ATI Metals
14.3.8 AK Steel
14.3.9 Outokumpu
