The quenched& tempered steel market is estimated to witness a positive growthlandscape during the assessment period of 2017-2025. The properties derivedfrom the quenched & tempered steel will serve as a prominent growth factor.The increasing usage of quenched & tempered steel across variedapplications in automotive, mining, storage tanks, industrial equipment,storage tanks, and others will bring immense growth prospects.
· Enhanced ductility and malleability will prove to be growth generatorsfor the quenched & tempered steel market. Furthermore, the boomingconstruction sector will bring exponential growth for the quenched &tempered steel market as the steel type is used in infrastructure building on alarge scale. All these factors bode well for the growth of the quenched &tempered steel market.
· Research and development activities form an important part of the growthtrajectory of the quenched & tempered steel market. The players are involvedin research and development activities for formulating new technologies.Furthermore, the players invest extensively in these activities for boostingtheir revenues, ultimately contributing to the growth of the quenched &tempered steel market. Strategic collaborations are crucial for the players inthe quenched & tempered steel market. The players are involved in theseactivities to increase their presence across various segments.
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Quenched & tempered steel is ahigh strength and abrasion resistant steel with high fabrication qualities andmechanical properties. Steel is subjected to processes such as quenching andtempering in order to increase its hardness and strength. The process ofquenching comprises heating of steel, followed by immediate cooling in water,oil, and forced air or inert gases such as nitrogen. The process of quenchingis tightly monitored and controlled with respect to parameters such as heatingtemperature, cooling method, and cooling speed depending upon the hardnessrequired. After the steel has been quenched to a required hardened state, it issubjected to tempering to achieve greater toughness and ductility by decreasinghardness. Tempering is achieved by heating the steel to below the criticalpoint for a period of time and allowing it to cool in still air at a particularcooling rate. Parameters such as heating temperature and time are dependent onhardness and mechanical properties of the steel desired. Tempering enablesquenched steel to become less ductile and more brittle without compromisinghardness. As a result of these two processes, the steel becomes harder andtougher with more weldability and ductility than other grades of steel.Quenched & tempered steel is used in machinery, and plants and equipmentwhere greater abrasion resistance coupled with higher strength is pre-requisitefor applications such as mining, earth moving, and construction.
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Quenched & tempered steel hashigh yield strength and is an ideal choice for low weight applications thatrequire high carrying capacity. Quenched & tempered steel is used inconstruction sites in dumping truck bodies, storage bins, and hoppers, as it islight weight and maintains the required strength.
In terms of grade, the market forquenched & tempered steel can be segmented into grade 80, grade 400, andgrade 500. Grade 80 steel is a high hardness, abrasion-resistant steel withappropriate carbon percentage to optimize welding. Grade 80 steel can be weldedto itself and other grades of steel provided low hydrogen consumables are usedand attention is paid to preheat, interpass temperature, heat input, and thedegree of joint restraint. Grade 400 is a high hardness, abrasion-resistantsteel. Grade 400 plate can be successfully cold formed, provided allowances aremade for the high strength of the steel. Grade 500 is a medium carbon, highhardness, and abrasion-resistant steel. Grade 500 steel offers long shelf lifein sliding abrasion applications such as dump truck wear liners, cutting edges,earthmoving buckets, and ground-engaging tools. Based on application, themarket for quenched & tempered steel can be divided into automotive,construction, mining, industrial equipment & machinery, storage tanks, andothers.
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In terms of geography, North Americadominates the quenched & tempered steel market due to its development plansto refurbish infrastructure. Demand for quenched & tempered steel is highin countries such as France, Germany, and the U.K. in Europe owing to theincrease in industrial activities. Countries such as China, India, and Japan inAsia Pacific are emerging markets for quenched & tempered steel due to therapid industrialization and development of smart cities. After the economicslowdown, countries in Latin America such as Brazil and Mexico are beginning toinvest in quenched & tempered steel. This is expected to boost the marketin the near future.
Key players operating in the quenched& tempered steel market include ArcelorMittal, Nippon Steel, Leeco Steel,Bisalloy Steel, and Posco.
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