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The global 9% Nickel Steel Plate market size was valued at USD 2031.37 Million in 2022 and will reach USD 3714.06 Million in 2028, with a CAGR of 10.58% during 2022-2028.
9% nickel steel plate is a high-strength, low-alloy steel that contains 9% nickel and has excellent toughness and strength at low temperatures. The primary application of 9% nickel steel plates is in cryogenic applications, specifically cryogenic storage plants of liquefied gases such as argon, oxygen, LNG, and nitrogen. The steel plates are useful for both the containment and storage of these gases.
The epidemic has affected 9% of the nickel steel plate industry. The price of raw materials has risen, the supply chain has been interrupted, the production and operation of downstream industries have been impacted, and short-term demand has been affected. In the long run, with the weakening of the impact of the epidemic, the recovery of production and life, the improvement of manufacturing technology, and the continuous development of downstream LNG, clean energy and other industries, the market prospect is broad.
1 Drivers
1.1 Product advantages promote the development of the industry.
1.2 The development of the liquefied natural gas (LNG) industry will drive 9% of the nickel steel market growth.
2 Limitations
2.1 9% nickel steel plate is technically difficult and requires high quality.
2.2 The threat of substitutes.
2.3 Raw material prices fluctuate.
3 Opportunities
3.1 The expansion of the hydrogen industry will bring development opportunities for 9% nickel steel plates.
3.2 Emerging markets have great potential.
With the economic development of emerging economies, the process of industrialization and urbanization has accelerated, and energy demand has increased. However, many Asian emerging economies have insufficient natural gas production capacity and are highly dependent on foreign countries. The growing gap between supply and demand and the geographical mismatch between regions are expected to accelerate the development of LNG business in the future, which in turn will drive the development of the 9% nickel steel industry.
Region Overview:
China was the largest revenue market with a market share of 42.57% in 2017 and 43.61% in 2022, an increase of 1.04%. In 2022, Europe market share was 16.69%, ranking second.
Company Overview:
Nanjing Iron and Steel Company
Nanjing Iron and Steel Co., Ltd. is an industry-leading high-efficiency, full-process iron and steel conglomerate, creating an industrial chain ecosystem with mutual empowerment and compound growth with new steel materials as the core, focusing on industrial development and value growth. The company has a complete production process from ore mining, coking, sintering, ironmaking, steelmaking to steel rolling. All the company's process equipment has completed large-scale and modern transformation, and has an annual production capacity of 10 million tons of steel. In 2000, the company was listed on the Shanghai Stock Exchange.
CHINA BAOWU STEEL GROUP
China Baowu Steel Group Corp., Ltd., commonly known as Baowu, is a state-owned iron and steel company headquartered in the Baosteel Tower in Pudong, Shanghai, China. The company was formed by Baosteel Group absorbing its smaller state-owned peer, Wuhan Iron and Steel Corporation in 2016.
The industry concentrate rate is relatively high. The market share of the top three companies in 2021 was 42.19%. The top three companies are Nanjing Iron and Steel Company, CHINA BAOWU STEEL GROUP and Nippon Steel, with the revenue market share of 16.07%, 14.43% and 11.69% in 2021.
Segmentation Overview:
9% nickel steel plate can be divided into less than 30mm, 30-50mm and other according to the thickness.
Among different product types, Thickness: Less than 30 mm segment is anticipated to contribute the largest market share in 2027.
Application Overview:
Liquefied Natural Gas Tanks
The 9% nickel steel plate is a low-carbon nickel alloy steel with nominal composition of Ni, which is particularly used for low-temperature or cryogenic pressure vessels and plants for processing, transportation.
Transport Ship
Relatively low thermal expansion, low thermal conductivity and good corrosion resistance make 9% nickel steel plates suitable for use in transport ships.
Hydrogen Storage Tank
Hydrogen can be stored physically as either a gas or a liquid. Storage of hydrogen as a gas typically requires high-pressure tanks.
By application, the Liquefied Natural Gas Tanks segment occupied the biggest share from 2017 to 2022.
The 9% Nickel Steel Plate market report covers sufficient and comprehensive data on market introduction, segmentations, status and trends, opportunities and challenges, industry chain, competitive analysis, company profiles, and trade statistics, etc. It provides in-depth and all-scale analysis of each segment of types, applications, players, 5 major regions and sub-division of major countries, and sometimes end user, channel, technology, as well as other information individually tailored before order confirmation.
Meticulous research and analysis were conducted during the preparation process of the report. The qualitative and quantitative data were gained and verified through primary and secondary sources, which include but not limited to Magazines, Press Releases, Paid Databases, Maia Data Center, National Customs, Annual Reports, Public Databases, Expert interviews, etc. Besides, primary sources include extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs, and marketing executives, downstream distributors, as well as end-clients.
In this report, the historical period starts from 2018 to 2022, and the forecast period ranges from 2023 to 2028. The facts and data are demonstrated by tables, graphs, pie charts, and other pictorial representations, which enhances the effective visual representation and decision-making capabilities for business strategy.
Key Companies in the global 9% Nickel Steel Plate market covered in Chapter 4:
ArcelorMittal
Wuyang Steel Co., Ltd.
Nanjing Iron and Steel Company
Citic Pacific Special Steel Group Co.,ltd.
Hyundai Steel
Voestalpine
POSCO
Angang Steel Group Limited
Nippon Steel
CHINA BAOWU STEEL GROUP
In Chapter 12 and Chapter 14.1, on the basis of types, the 9% Nickel Steel Plate market from 2018 to 2028 is primarily split into:
Thickness: Less than 30 mm
Thickness: 30-50 mm
Others
In Chapter 13 and Chapter 14.2, on the basis of the Downstream Industry, the 9% Nickel Steel Plate market from 2018 to 2028 covers:
Liquefied Natural Gas (LNG) Tanks
Transport Ship
Hydrogen Storage Tank
Other
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, history and forecast (2018-2028) of the following regions are covered in Chapters 6, 7, 8, 9, 10, 11, 15:
North America (United States, Canada, Mexico)
Europe (Germany, United Kingdom, France, Italy, Spain)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia)
South America (Brazil, Argentina)
Middle East & Africa (Saudi Arabia, UAE, South Africa)
Outline:
Chapter 1 begins with the 9% Nickel Steel Plate market scope and definition, product segment introduction, global overall market size, as well as market dynamics scenarios such as opportunities, challenges, and industry development trends under inflation. It offers a high-level view of the current state of the 9% Nickel Steel Plate market and its likely evolution in the short to mid-term and long term.
Chapter 2 provides 9% Nickel Steel Plate industry chain analysis, covering raw materials analysis, cost structure, price estimate, and forecast, along with price-impacting factors, downstream channels, and major customers. It aims to help readers to grab insights into product upstream, midstream, and downstream fields.
Chapter 3 depicts 9% Nickel Steel Plate industry competitive analysis regarding market concentration rate, saturation rate, feasibility analysis from new entrants, as well as substitute's status and trends. It indicates the developing space and prospects of the current industry.
Chapter 4 analyzes extensive company profiles, comprising company basic info, product or service profiles, and sales, price, value, gross, and gross margin 2018-2023. It incorporates the 9% Nickel Steel Plate market ranking, benchmarks, and company business portfolio.
Chapter 5 presents trade statistics of import and export volume from 2018-2023, demonstrating domestic and international market comparisons in specific countries.
Chapters 6-10 highlight 9% Nickel Steel Plate market status at the regional and country levels, including 5 major regions of North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The region and country list in the sample is only for reference, and it can be adjusted as required.
Chapter 11 involves geographical market figures of sales, value, market share, and growth rate. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of each specific region.
Chapters 12-13 evaluate the 9% Nickel Steel Plate market based on different types and applications. It focuses on sales and value of 2018-2023 from both vertical and horizontal perspectives.
Chapters 14-15 elaborate on the 9% Nickel Steel Plate market forecast data from 2023-2028, segmented by types and applications, regions, and major countries, helping readers to know future aspects and growth trends.
Chapter 16 ends with an elaboration of data sources and research methodology. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
2022
9% nickel steel plate is a high-strength, low-alloy steel that contains 9% nickel and has excellent toughness and strength at low temperatures. The primary application of 9% nickel steel plates is in cryogenic applications, specifically cryogenic storage plants of liquefied gases such as argon, oxygen, LNG, and nitrogen. The steel plates are useful for both the containment and storage of these gases.
The epidemic has affected 9% of the nickel steel plate industry. The price of raw materials has risen, the supply chain has been interrupted, the production and operation of downstream industries have been impacted, and short-term demand has been affected. In the long run, with the weakening of the impact of the epidemic, the recovery of production and life, the improvement of manufacturing technology, and the continuous development of downstream LNG, clean energy and other industries, the market prospect is broad.
1 Drivers
1.1 Product advantages promote the development of the industry.
1.2 The development of the liquefied natural gas (LNG) industry will drive 9% of the nickel steel market growth.
2 Limitations
2.1 9% nickel steel plate is technically difficult and requires high quality.
2.2 The threat of substitutes.
2.3 Raw material prices fluctuate.
3 Opportunities
3.1 The expansion of the hydrogen industry will bring development opportunities for 9% nickel steel plates.
3.2 Emerging markets have great potential.
With the economic development of emerging economies, the process of industrialization and urbanization has accelerated, and energy demand has increased. However, many Asian emerging economies have insufficient natural gas production capacity and are highly dependent on foreign countries. The growing gap between supply and demand and the geographical mismatch between regions are expected to accelerate the development of LNG business in the future, which in turn will drive the development of the 9% nickel steel industry.
Region Overview:
China was the largest revenue market with a market share of 42.57% in 2017 and 43.61% in 2022, an increase of 1.04%. In 2022, Europe market share was 16.69%, ranking second.
Company Overview:
Nanjing Iron and Steel Company
Nanjing Iron and Steel Co., Ltd. is an industry-leading high-efficiency, full-process iron and steel conglomerate, creating an industrial chain ecosystem with mutual empowerment and compound growth with new steel materials as the core, focusing on industrial development and value growth. The company has a complete production process from ore mining, coking, sintering, ironmaking, steelmaking to steel rolling. All the company's process equipment has completed large-scale and modern transformation, and has an annual production capacity of 10 million tons of steel. In 2000, the company was listed on the Shanghai Stock Exchange.
CHINA BAOWU STEEL GROUP
China Baowu Steel Group Corp., Ltd., commonly known as Baowu, is a state-owned iron and steel company headquartered in the Baosteel Tower in Pudong, Shanghai, China. The company was formed by Baosteel Group absorbing its smaller state-owned peer, Wuhan Iron and Steel Corporation in 2016.
The industry concentrate rate is relatively high. The market share of the top three companies in 2021 was 42.19%. The top three companies are Nanjing Iron and Steel Company, CHINA BAOWU STEEL GROUP and Nippon Steel, with the revenue market share of 16.07%, 14.43% and 11.69% in 2021.
Segmentation Overview:
9% nickel steel plate can be divided into less than 30mm, 30-50mm and other according to the thickness.
Among different product types, Thickness: Less than 30 mm segment is anticipated to contribute the largest market share in 2027.
Application Overview:
Liquefied Natural Gas Tanks
The 9% nickel steel plate is a low-carbon nickel alloy steel with nominal composition of Ni, which is particularly used for low-temperature or cryogenic pressure vessels and plants for processing, transportation.
Transport Ship
Relatively low thermal expansion, low thermal conductivity and good corrosion resistance make 9% nickel steel plates suitable for use in transport ships.
Hydrogen Storage Tank
Hydrogen can be stored physically as either a gas or a liquid. Storage of hydrogen as a gas typically requires high-pressure tanks.
By application, the Liquefied Natural Gas Tanks segment occupied the biggest share from 2017 to 2022.
The 9% Nickel Steel Plate market report covers sufficient and comprehensive data on market introduction, segmentations, status and trends, opportunities and challenges, industry chain, competitive analysis, company profiles, and trade statistics, etc. It provides in-depth and all-scale analysis of each segment of types, applications, players, 5 major regions and sub-division of major countries, and sometimes end user, channel, technology, as well as other information individually tailored before order confirmation.
Meticulous research and analysis were conducted during the preparation process of the report. The qualitative and quantitative data were gained and verified through primary and secondary sources, which include but not limited to Magazines, Press Releases, Paid Databases, Maia Data Center, National Customs, Annual Reports, Public Databases, Expert interviews, etc. Besides, primary sources include extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs, and marketing executives, downstream distributors, as well as end-clients.
In this report, the historical period starts from 2018 to 2022, and the forecast period ranges from 2023 to 2028. The facts and data are demonstrated by tables, graphs, pie charts, and other pictorial representations, which enhances the effective visual representation and decision-making capabilities for business strategy.
Key Companies in the global 9% Nickel Steel Plate market covered in Chapter 4:
ArcelorMittal
Wuyang Steel Co., Ltd.
Nanjing Iron and Steel Company
Citic Pacific Special Steel Group Co.,ltd.
Hyundai Steel
Voestalpine
POSCO
Angang Steel Group Limited
Nippon Steel
CHINA BAOWU STEEL GROUP
In Chapter 12 and Chapter 14.1, on the basis of types, the 9% Nickel Steel Plate market from 2018 to 2028 is primarily split into:
Thickness: Less than 30 mm
Thickness: 30-50 mm
Others
In Chapter 13 and Chapter 14.2, on the basis of the Downstream Industry, the 9% Nickel Steel Plate market from 2018 to 2028 covers:
Liquefied Natural Gas (LNG) Tanks
Transport Ship
Hydrogen Storage Tank
Other
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, history and forecast (2018-2028) of the following regions are covered in Chapters 6, 7, 8, 9, 10, 11, 15:
North America (United States, Canada, Mexico)
Europe (Germany, United Kingdom, France, Italy, Spain)
Asia Pacific (China, Japan, South Korea, India, Southeast Asia)
South America (Brazil, Argentina)
Middle East & Africa (Saudi Arabia, UAE, South Africa)
Outline:
Chapter 1 begins with the 9% Nickel Steel Plate market scope and definition, product segment introduction, global overall market size, as well as market dynamics scenarios such as opportunities, challenges, and industry development trends under inflation. It offers a high-level view of the current state of the 9% Nickel Steel Plate market and its likely evolution in the short to mid-term and long term.
Chapter 2 provides 9% Nickel Steel Plate industry chain analysis, covering raw materials analysis, cost structure, price estimate, and forecast, along with price-impacting factors, downstream channels, and major customers. It aims to help readers to grab insights into product upstream, midstream, and downstream fields.
Chapter 3 depicts 9% Nickel Steel Plate industry competitive analysis regarding market concentration rate, saturation rate, feasibility analysis from new entrants, as well as substitute's status and trends. It indicates the developing space and prospects of the current industry.
Chapter 4 analyzes extensive company profiles, comprising company basic info, product or service profiles, and sales, price, value, gross, and gross margin 2018-2023. It incorporates the 9% Nickel Steel Plate market ranking, benchmarks, and company business portfolio.
Chapter 5 presents trade statistics of import and export volume from 2018-2023, demonstrating domestic and international market comparisons in specific countries.
Chapters 6-10 highlight 9% Nickel Steel Plate market status at the regional and country levels, including 5 major regions of North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The region and country list in the sample is only for reference, and it can be adjusted as required.
Chapter 11 involves geographical market figures of sales, value, market share, and growth rate. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of each specific region.
Chapters 12-13 evaluate the 9% Nickel Steel Plate market based on different types and applications. It focuses on sales and value of 2018-2023 from both vertical and horizontal perspectives.
Chapters 14-15 elaborate on the 9% Nickel Steel Plate market forecast data from 2023-2028, segmented by types and applications, regions, and major countries, helping readers to know future aspects and growth trends.
Chapter 16 ends with an elaboration of data sources and research methodology. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
