Materials & Chemicals Market Research News

Laminated steel market set to grow according to forecasts

Materials & Chemicals Research

Laminated steel is a steel made up of layers of different types of steel, rather than using a single alloy of steel, It is used for making sword, knife or any other kind of tool. Previously it was necessary to laminate the steel due to the production method of steel of smelting iron.

 Laminated steel offers an average properties of steel, also it restricts the high carbon steel in the areas that needs to be kept away from carbon. Laminated steel blades are used for some specialized applications, were there is a need of different properties of steel at various points of blades that can be met by using different alloys combination.

Since, it was difficult to manufacture high carbon steel, so different alloys of steel were laminated only at the parts were it was needed and served the purpose.

Nowadays, a thin layer of high carbon steel is laminated in between two softer steel blades, or even a soft steel core is laminated around high carbon steel.

The Japanese Katana is a blade having 5 different sections of hardness of soft and hard part with the use of laminated steel of different alloys over it. The global laminated steel market is anticipated to witness a moderate CAGR in the forecast period.

The ever increasing steel market and the need for various layers of steels over alloys of steel for the applications like consumer goods, beverage cans etc is expected to bolster the global laminated steel market in forecast period. The growing construction sector, electrical and electronics industry, and machinery sector are the factors contributing to the growth of global laminated steel market.

Also the rising demand of household appliances like knife, and motors, transformers and other such consumer goods are anticipated to drive the global laminated steel market in further future.

However, the complex process involved in making the layers of different steels over any alloy of steel is a major challenge in the use of laminated steel and can hamper the growth of global laminated steel market. Also the cost involved in this process is quite high compared to that of traditional use of high carbon steel which can further slowdown the growth of global laminated steel market.

 The global laminated steel market can be divided into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa. Asia Pacific is expected to be the leader in the global laminated steel market owing to its ever growing construction industry and also the use of laminated steel in various utensils.

China and India are the leading countries in Asia Pacific to witness a significant growth in global laminated steel market.

Asia Pacific is followed by North America in terms of laminated steel consumption due to its high beverage cans production for various applications and also booming construction sector. Europe is another major contributors in the global laminated steel market due to the surge in its automobiles market and other industrial machineries growing sector.

Latin America and Middle East and Africa are growing at a modest rate in the global laminated steel market and is expected to witness a huge growth in further future.

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