Global Heat Resistant Steel Market Overview
Heat Resistant Steel Market was valued at US$ 6.3 Billion in 2024 and is projected to grow at a CAGR of 7.60% to reach US$ 12.2 Billion by 2034.
Heat resistant steel when exposed to temperature exceeding 500°; its properties and characteristics do not fail. The two most common elements used in the production of heat resistant steels are chromium for oxidation resistance and nickel for strength as well as ductility. Characteristic of heat resistant steel possess excellent characteristic of at high temperatures is more certain to longer life than other conventional steels.
Increasing use of heat resistance steel in various end-use applications as a core element in manufacturing and automobile industries is major factor driving the growth of the global market. Increasing demand for heat resistance steel owing to its excellent properties such as heat resistance, corrosion resistance, tensile strength, and aesthetic appearance is key factor expected to propel growth of the target market in the near future.
In addition, rapid urbanization, infrastructure advancements, and rising demand from construction and petrochemical industries are some among the major factors propelling growth of the global heat resistant steels market across the globe. However, high costs associated with the production and maintenance of high resistant steel is restraining growth of the global market. Technological advancements associated with the manufacturing process of the high resistant steel are expected to create new opportunities for the companies operating in the global heat resistant steel market in the near future.
The global heat resistant steel market has been segmented on the basis of product type, application, and region.
On the basis of product type the target market has been segmented into chromium-nickel, chromium-nickel-nitrogen, chromium-manganese-nickel-nitrogen, and iron-manganese-aluminium. On the basis of application the target market has been segmented into aerospace, power plant, manufacturing unit, and automobile.
On the basis of region the target market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to account major revenue share as compared to that of other regions. Asia Pacific is expected to register significant growth rate over the forecast period, due to rising demand for heat resistant steel especially from aerospace and automobile industries, coupled with presence of major players in the countries of the region.
Key players operating in the global heat resistant steel market includes Posco, Pacific Alloy, JFE Steel, Halvorsen, Masteel, Baosteel, SBA Steel lcc., and Nippon Steel Sumitomo Metal.
Global Heat Resistant Steel Market Table of Contents
Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
Market Preview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product Type
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restrains
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
Heat Resistant Steel Market, By Product Type, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Chromium-Nickel
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Chromium-Nickel-Nitrogen
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Chromium-Manganese-Nickel-Nitrogen
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Iron-Manganese-Aluminium
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
Heat Resistant Steel Market, By Application, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Segment Trends
- Aerospace
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Power Plant
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Manufacturing Unit
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
- Automobile
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
Heat Resistant Steel Market, By Region, Forecast Period up to 10 Years, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
- Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Product Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Product Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Product Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Product Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Product Type, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
- Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
- GCC
- Israel
- South Africa
- Rest of Middle East
Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
Company Profiles
- Posco.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Pacific Alloy
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- JFE Steel.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Halvorsen
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Masteel
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Baosteel
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- SBA Steel lcc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Nippon Steel Sumitomo Metal.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
The Last Word
- Future Impact
- About Us
- Contact
FAQs
Heat Resistant Steel Market accounted for US$ 5.8 billion in 2022 and is estimated to be US$ 8.9 billion by 2032 and is anticipated to register a CAGR of 4.2%.
Heat Resistant Steel Market is segmented based on Product Type, Application and Region.
Challenges in production costs, economic fluctuations, and stringent environmental regulations act as restraints for the Heat Resistant Steel Market globally.
The Heat Resistant Steel Market is driven by factors such as increasing demand from the energy sector, growth in industrial infrastructure, and the need for materials with high temperature resistance in various applications.
The report considers regions like North America, Europe, Asia-Pacific, and Latin America. Asia-Pacific is anticipated to dominate the Heat Resistant Steel Market, driven by industrial expansion and infrastructure development in the region.
The prominent players operating in the Heat Resistant Steel Market includes, Posco, Pacific Alloy, JFE Steel, Halvorsen, Masteel, Baosteel, SBA Steel lcc, and Nippon Steel Sumitomo Metal and others.