The Global Steel Plate for LNG Carrier Market was valued at USD 2.75 Billion in 2024 and is projected to reach USD 3.98 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period (2024–2030). This growth is being driven by increasing global demand for liquefied natural gas, expansion of LNG infrastructure projects, and the accelerating adoption of advanced cryogenic steel technologies across shipbuilding and energy sectors.
As the global energy transition accelerates toward cleaner fuel sources, the spotlight is on the key steel manufacturers who are driving innovation, reliability, and material excellence for next-generation LNG transportation. In this blog, we profile the Top 10 Companies in the Steel Plate for LNG Carrier Industry—a mix of industrial giants, specialized steel producers, and technological innovators shaping the future of maritime energy logistics.
🔟 1. NIPPON STEEL
Headquarters: Tokyo, Japan
Key Offering: 9% Nickel Steel Plates, High Manganese Steel, Advanced Cryogenic Alloys
NIPPON STEEL Corporation stands as the world’s leading producer of specialized steel plates for LNG carriers, offering comprehensive material solutions that meet the demanding requirements of cryogenic temperature applications. Their steel division serves major shipyards, energy companies, and marine engineering firms worldwide, with substantial investments in developing next-generation steel technologies for enhanced mechanical properties and weldability in extreme environments.
Technological Innovations:
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Development of ultra-high toughness 9% Ni steel
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Advanced thermal processing techniques for improved cryogenic performance
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Implementation of Industry 4.0 technologies in steel production
Download FREE Sample Report: Steel Plate for LNG Carrier Market – View in Detailed Research Report
9️⃣ 2. POSCO
Headquarters: Pohang, South Korea
Key Offering: POSCO LNG Steel Plates, High Manganese Austenitic Steel, Custom Alloy Solutions
POSCO operates as one of the world’s premier steel manufacturers with extensive expertise in producing specialized plates for LNG containment systems. The company supplies over 40% of the global demand for 9% nickel steel used in membrane-type LNG cargo tanks.
Technological Innovations:
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Pioneering high manganese steel technology for LNG applications
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Collaboration with shipbuilders and classification societies to advance material standards
8️⃣ 3. ArcelorMittal
Headquarters: Luxembourg City, Luxembourg
Key Offering: 9% Ni Steel Plates, Invar Alloy, Thermal Insulation Steel
ArcelorMittal maintains a significant global presence in the production of steel plates for LNG carriers through its extensive manufacturing network across Europe, Americas, and Asia.
Technological Innovations:
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Development of cost-effective alternatives to nickel-based cryogenic steels
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Implementation of sustainable steelmaking practices across production facilities
7️⃣ 4. Baowu Group
Headquarters: Shanghai, China
Key Offering: Cryogenic Steel Plates, LNG Tank Steel, Shipbuilding Steel Plates
Baowu Group has emerged as China’s largest and most technologically advanced producer of steel plates for LNG carriers. The company supplies critical materials for China’s expanding LNG shipbuilding industry and international maritime projects.
Technological Innovations:
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Domestic R&D leadership in 9% nickel steel production
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Strategic partnerships with domestic shipyards for LNG carrier construction
Download FREE Sample Report: Steel Plate for LNG Carrier Market – View in Detailed Research Report
6️⃣ 5. JFE Steel
Headquarters: Tokyo, Japan
Key Offering: JFE 9% Ni Steel Plate, High Manganese Steel, Specialized Cryogenic Alloys
JFE Steel Corporation maintains a prominent position in the global market for LNG carrier steel plates through its advanced manufacturing capabilities and technical expertise in cryogenic materials.
Technological Innovations:
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Advanced manufacturing process for ultra-clean steel with superior low-temperature toughness
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Development of JFE-HITEN steel series for LNG applications
5️⃣ 6. Ansteel Group
Headquarters: Anshan, Liaoning, China
Key Offering: Ansteel Cryogenic Steel, 9% Ni Plate, LNG Containment System Steel
Ansteel Group ranks among China’s top three steel producers with dedicated facilities for manufacturing high-performance steel plates used in LNG carrier construction and related infrastructure.
Technological Innovations:
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Expansion of 9% nickel steel production capacity to 200,000 tons annually.
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Investment in R&D for domestic alternatives to imported LNG carrier steels
4️⃣ 7. Voestalpine
Headquarters: Linz, Austria
Key Offering: High-Performance Cryogenic Steel, Special Alloy Plates, LNG Tank Materials
Voestalpine AG brings European engineering excellence to the production of specialized steel plates for LNG carriers, with particular expertise in materials for membrane-type containment systems.
Technological Innovations:
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Development of premium-grade 9% nickel steel with enhanced weldability and impact resistance at cryogenic temperatures.
Technological Innovations:
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Specialized heat treatment processes for optimal cryogenic performance
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Implementation of digital quality control systems throughout manufacturing
3️⃣ 8. HBIS Group Co., Ltd
Headquarters: Shijiazhuang, Hebei, China
Key Offering: HBIS Cryogenic Steel, LNG Shipbuilding Plate, Advanced Alloy SolutionsHBIS Group has established itself as a major domestic supplier of steel plates for LNG carriers in China’s rapidly expanding maritime industry, supplying materials for domestic shipbuilding projects.
Technological Innovations:
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Expansion of high-value-added steel product portfolio including specialized LNG carrier plates.
Technological Innovations:
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Development of cost-competitive high-performance steel for LNG applications
2️⃣ 9. Xiangtan Iron and Steel Co., Ltd (XISC)
Headquarters: Xiangtan, Hunan, China
Key Offering: XISC 9% Ni Steel, LNG Storage Tank Plate, Cryogenic Structural SteelXiangtan Iron and Steel specializes in producing high-quality steel plates for LNG carriers, with particular focus on materials for membrane tank systems and secondary barrier applications.
Technological Innovations:
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Focus on specialized cryogenic steel production for China’s domestic market and international projects requiring specialized material solutions.
Technological Innovations:
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Development of nickel-saving alternatives for LNG carrier applications
1️⃣ 10. TISCO
Headquarters: Taiyuan, Shanxi, China
Key Offering: TISCO Cryogenic Steel, LNG Cargo Tank Plate, Special Alloy DevelopmentTISCO (Taiyuan Iron and Steel Group) maintains strategic importance in China’s steel industry for specialized products including steel plates used in LNG carrier construction projects and related marine engineering applications.
Technological Innovations:
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Investment in advanced rolling and heat treatment facilities for premium-grade LNG carrier steels.
Technological Innovations:
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R&D focus on improving the cost-effectiveness of cryogenic steel production
Get Full Report Here: Steel Plate for LNG Carrier Market – View in Detailed Research Report
🌍 Outlook: The Future of Steel Plates for LNG Carriers Is Smarter and More Resilient
The steel plate for LNG carrier market is undergoing a fundamental transformation driven by the global energy transition. While traditional 9% nickel steel still dominates in critical applications, the industry is investing substantially in advanced material technologies, sustainable manufacturing processes, and digital quality assurance systems.
📈 Key Trends Shaping the Market:
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Accelerated adoption of high manganese steel as a cost-effective alternative to nickel-based alloys
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Increasing demand for larger LNG carriers with enhanced cargo capacity and operational efficiency
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Regulatory emphasis on material reliability and safety standards for cryogenic applications
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Digitalization of steel production processes and supply chain optimization
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Strategic partnerships between steel manufacturers and shipbuilders for customized material solutions
Read Full Report: Steel Plate for LNG Carrier Market – View in Detailed Research Report
The companies listed above are not only supplying critical materials for global LNG shipping—they’re pioneering the material innovation needed for the energy transition at sea.
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