Untempered Steel Market

The expanding automobile industry is one of the major factors influencing the market for untempered steel. Untempered steel is widely utilised in the automotive industry, one of the biggest consumers of steel. During the projected period, the untempered steel market is anticipated to rise as a result of the rising demand for cars, both passenger and commercial. The expanding global building industry is another driver boosting the demand for untempered steel. Steel that has not been tempered is frequently utilised in construction due to its strength and longevity.

During the projection period, it is anticipated that rising infrastructure development investments will fuel demand for untempered steel. The market for untempered steel is expanding as a result of rising demand from developing nations like China and India. Construction and automotive activity have increased as a result of the rapid economic expansion in these nations, and it is anticipated that this will enhance demand for untempered steel throughout the projection period.

The building sector depends on the market for untempered steel. Due to its higher strength and ductility compared to other steel products, this product is becoming more and more in demand. This kind of steel is employed in the construction of massive engineering projects like nuclear reactors and other forms of heavy infrastructure. Additionally, it is employed in the creation of parts for automobiles, ships, aeroplanes, and other structural applications. As a result, as more construction projects are performed, it is anticipated that the demand for untempered steel would increase dramatically in the coming years.

The building sector depends on the untempered steel market. This product's greater strength and ductility compared to other steel products are driving up demand for it. Construction of major infrastructure, including bridges, nuclear reactors, and other sizable engineering projects, uses this kind of steel. The manufacture of parts for autos, ships, aeroplanes, and other structural applications also uses it. As more construction projects are conducted, the demand for untempered steel is anticipated to increase dramatically in the coming years.

During the forecast period of 2021–2031, the global untempered steel market is expected to grow at a CAGR of 4.2%, from a value of USD 8.6 billion in 2021 to USD 11.5 billion by the end of 2031.

This expansion can be attributable to the rising demand for untempered steel across a range of industries, including mechanical processing, automobile parts, and others. Untempered steel is a particular kind of steel that is created through carefully managed cooling and tempering procedures to increase its resistance to wear, corrosion, and fatigue in comparison to other materials used in related applications.

The market for untempered steel is constrained by the scarcity of raw resources. Untempered steel must be produced using high-quality raw materials, which are difficult to come by. This restricts the manufacturing of untempered steel and slows the market's expansion. The strict environmental protection requirements are another factor limiting the demand for untempered steel. Untempered steel production produces a significant number of contaminants, which must be carefully disposed of to prevent environmental deterioration. This places a heavy financial burden on manufacturers, which in turn limits the market's expansion. However, it is anticipated that the rising investments in infrastructure development and the rising demand for untempered steel in the automotive industry will accelerate market expansion.

In the market, some of the major producers include ArcelorMittal (Luxembourg), POSCO (South Korea), Nippon Steel & Sumitomo Metal Corporation (Japan), Baosteel Group (China), and JSW Steel Ltd. (India). The following are some additional significant producers in the market: TATA Steel (India), Shagang Group (China), Valin Steel (China), Dongkuk Steel Mill Co. Ltd. (South Korea), Voestalpine AG (Austria), Essar Steel Ltd. (India), and Gerdau S.A. (Brazil).

Segment Analysis

The Ferrite-pearlite Steel Segment emerged as the Most Lucrative Type

The Ferrite-pearlite Steel, Bainite Steel, and Martensitic Steel categories make up the Untempered Steel Market. During the projection period, the ferrite-pearlite steel sector is anticipated to have a sizable market share. Heavy engineering applications including gears, crankshafts, shafts, and other components that need great strength and good fatigue resistance employ this grade of steel.

The Most Prominent Application is the Automotive Parts Segment

The Untempered Steel Market is divided into three categories based on Application: Automotive Parts, Mechanical Processing, and Others. Due to its expanding use in automotive components such as engines, drivetrain, and chassis, the automotive segment will continue to maintain a sizable market share over the forecast period.

The Asia Pacific Region to render Ample Financing Opportunities

Geographically, the untempered steel market is divided into North America (the United States and Canada), Europe (Germany, the United Kingdom, and France), Asia Pacific (China, India), Latin America (Brazil), and the Middle East and Africa (South Africa). Due to rising demand from nations like China and India for automotive and industrial applications, Asia Pacific is anticipated to hold a sizable market share among these regions.

COVID-19 Impact and Market Status

Global demand for untempered steel has slowed down as a result of the COVID-19 epidemic. Due to the lockdown and social segregation measures undertaken by governments around the world, the automotive and construction industries are among the worst affected sectors. As a result, it is anticipated that the demand for untempered steel will decrease in 2020 compared to 2019. The market, however, is anticipated to rebound in 2021 as economic activity increases. In the upcoming years, the untempered steel market is anticipated to rise as a result of the launch of novel products and increased investments in the industry.

Additionally, during the course of the projected period, the market expansion is likely to be supported by rising demand from sectors including heavy engineering, the automobile, and infrastructure. Furthermore, government programmes like Make in India are anticipated to help the manufacturing industry, which is probably going to open up new chances for producers of untempered steel. Additionally, throughout the course of the forecast period, increasing consumer awareness of sustainable construction materials is anticipated to drive market expansion.

Recent Developments in the Untempered Steel Market

• A Japanese steel manufacturer named Kobe Steel created and began manufacturing the first-ever ultra-high-strength steel in June of 2022. This steel has a tensile strength of 2.8 GPa, which is three times stronger than that of regular steel. It is anticipated that this newly created untempered steel will be employed in construction materials, automotive parts, and other industrial uses. To satisfy the rising demand for this new product, the company also made plans to increase its production capacity.

• German steel producer ThyssenKrupp AG unveiled its first uncoated steel grade intended exclusively for high-temperature applications in December 2021. Withstanding temperatures of up to 1000 degrees Celsius while preserving good mechanical qualities is the goal of this grade of non-tempered steel.

• A novel variety of non-tempered stainless steel that has more corrosion resistance than standard stainless steel was introduced by Nippon Steel Corporation in November 2020. The hot rolling and cold rolling methods, which may create sheets that are thinner and stronger than their predecessors without compromising durability or strength, were used to create this novel material.
• ArcelorMittal stated in April 2021 that it will introduce a line of untempered steel grades for industrial application under the name "AMTRU." The range is made to satisfy the demands of heavy-duty operations including mining, automotive, and energy projects and contains grades for both low and high temperatures.

Untempered Steel Market Scope

Key Segments of the Untempered Steel Market

Type Overview, (USD Billion)
        • Ferrite-pearlite Steel
        • Bainite Steel
        • Martensitic Steel
Application Overview, (USD Billion)
        • Automotive Part
        • Mechanical Processing
        • Others
Regional Overview,(USD Billion)
North America
        • U.S
        • Canada
Europe 
        • Germany
        • France
        • UK
        • Rest of Europe
Asia Pacific
        • China
        • India
        • Japan
        • Rest of Asia Pacific
South America
        • Mexico
        • Brazil
        • Rest of South America 
        • Middle East and South Africa