The global Quenched and Tempered Steel Plate market has seen steady growth over the years. In 2023, the market was valued at approximately USD 25.67 billion. The market is expected to grow at a compound annual growth rate (CAGR) of 5.20% from 2023 to 2032, reaching an estimated value of USD 36.60 billion by the end of the forecast period. This growth can be attributed to increasing demand from various industries, such as automotive, defense, mining, and construction, which require high-performance materials for heavy-duty applications.
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