Continuous Annealing Lines Market is Expected to Gain USD 43.02 Billion at a CAGR of 24.60% by 2033 | Fact. MR Report

2023-08-12 07:00:03

Continuous Annealing Lines Market Expected to Reach USD 43.02 Billion at a CAGR of 24.60% by 2033 | Fact. MR Report

The Continuous Annealing Lines Market revenues were estimated at US$ 14.9 Billion in 2022 and are anticipated to grow at a CAGR of 2.5% from 2023 to 2033, according to a recently published Fact.MR report. By the end of 2033, the market is expected to reach a valuation of US$ 19.5 Billion. Continuous Annealing Lines of capacity 250 TTPA to 500 TTPA are projected to grow at a CAGR of 1.8% from 2023 to 2033.

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In recent years, the food and beverage industry has seen a surge in the demand for annealed steel and aluminum packaging. Metal packaging has the fourth largest share compared to other packaging materials, accounting for around 12.1% in 2019. These materials offer exceptional properties, such as barrier protection against light, air, and moisture, preventing contamination and preserving the freshness and quality of the packaged products.

As the food and beverage industry continues to emphasize quality, safety, and sustainability in packaging solutions, the market is poised for further growth and technological advancements to meet the evolving needs of the packaging industry.

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Advantages of Continuous Annealing Lines

The continuous annealing lines also have clear advantages over traditional batch annealing processes. The consistent quality of the annealed material achieved through continuous processing ensures precise mechanical and metallurgical properties throughout the entire coil length, meeting strict industry standards. Additionally, the energy efficiency of these lines, achieved through heat recovery systems and optimized heating processes, reduces energy consumption and production costs.

The iron and steel industry ranks first in CO2 emission and second when it comes to energy consumption among heavy industries. It accounts for around 7% of the global energy system. Incorporating continuous annealing lines in the plant helps to significantly reduce energy consumption due to its continuous heating process. The incorporation of advanced technology to reduce the cost can create a significant opportunity for continuous annealing lines in the coming years as it is a potential replacement for batch annealing.

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Analysis by Country

Research on continuous annealing lines in the United States:

• The market in the US is anticipated to increase by US$ 907.7 million in absolute terms between 2023 and 2033, reaching a value of US$ 3.5 billion in 2023.
• From 2018 to 2022, the market in the United States grew at a CAGR of 1.0%, and from 2023 to 2033, it is anticipated to grow at a CAGR of 2.2%.
• The US government's dedication to building infrastructure has strengthened the steel industry. The worth of the American construction industry in 2022 was US$ 1.8 trillion. The need for high-strength steel is rising along with the building industry, which is motivating steel producers to build new annealing plants to meet the rising demand.

Competitive Analysis

Key players in the Continuous Annealing Lines Market are:

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Nippon Steel & Sumikin Engineering Co., Ltd., SMS Group, Andritz, ABB, Primetals Technology, Ebner, John Cockerill, JP Steel Plantech Co., Fives, Ametek, Clecim France, Rudolph Libbe Group, Danieli Group, and Tenova.

In January 2023, John Cockerill delivered its first shipment to one of the steelmaker's new continuous galvanizing and annealing lines in Gujrat. This shipment was made two months before the scheduled date.

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In 2022, Nippon Steel announced an absorption-type merger with Sumikin Bussan Kaisha, Ltd. The merger resulted in the formation of Nippon Steel & Sumikin Logistics Co., Ltd. This is its strategic step towards the expansion of the company base and enhancing its global presence.

In 2022, Nippon Steel Corporation and Sumitomo Metal Industries, Ltd. strengthened their alliance by cooperating for hot rolled steel sheets and agreeing on mutual capital subscription of about US$ 36 million each. This move is part of Nippon Steel's strategy to become the best steelmaker with world-leading capabilities.

Segmentation of the Global Market Research Report

By Capacity:

• 100 TTPA to 250 TTPA
• 250 TTPA to 500 TTPA
• 500 TTPA and above

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa

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