As per the current market trends and the promising nature of the wear resistant steel plate market, it can be estimated that the future holds positive outcomes. In order to provide a deep insight about the concerned market, Fact.MR would be publishing a resourceful analysis that will enclose knowledge about the regional market size, revenue and opportunity status. Readers will be offered the privilege to decode various facets of the market during the period “2017 to 2026”, together with the active access to secondary and primary research methodology. Furthermore, various segments of the market associated to product, application, end-user etc., would also be present in this intelligent research report.
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Extending the service life of steel plates is a major industrial concern, taking into account that steel plates when exposed to harsh conditions get damaged by mechanical abrasion. The wearing out of steel plates ends up costing millions of dollars in losses for heavy industries and manufacturing sector players. Replacing these damaged steel plates is an infrastructural dilemma for mining and construction activities, which has characteristically propelled the adoption of wear resistant steel plates. Plant operators are resolutely preferring wear resistant steel plates to avoid operational standstills and disregard the abrasiveness of certain industrial processes. In the future, wear resistant steel plates will witness an evolving demand as the specifications of end-users will become more diversified. Fact.MR foresees that offering steel plates for variety of abrasive industrial applications will be a key focus area for leading manufacturers of wear resistant steel plates in the world. The study observes that the global market for wear resistant steel plates shall reflect a growth at 3.9% CAGR in terms of value over the forecast period. Volume-wise, more than 31,300 thousand tons of wear resistant steel plates will be sold worldwide by the end of 2026.
Heat-Treated AR400 Steel Plates to Witness Soaring Adoption
Manufacturing of wear resistant steel plates remains predominantly inclined towards standard products such A514 steel plates, which will showcase a high demand through 2026. High strength of A514 steel plates will bolster their use as structural steel in building construction activities of the future. By 2026-end, the estimated sales of A514 wear resistant steel plates across the globe will record a volume of nearly 11,000 thousand tons. In addition, the scope of AR400 wear resistant steel plates will also exhibit a high traction in terms of sales. Over the forecast period, AR400 wear resistant steel plates will reflect highest volume CAGR of 4.1%. Heat-treated characteristics of AR400 wear resistant steel plates will drive their sales, while manufacturers will also focus on improving the welding and forming capabilities of these premium products.
Mining End-use of Wear Resistant Steel Plates to Translate High Profits
The overall end-use of wear resistant steel plates will be highest in the mining industry. In 2017, more than 7,600 thousand tons of wear resistant steel plates will be used for mining activities across the globe. Hydroelectric operations, excavating processes, slide conveyors, loaders, deflectors and chutes will be among the key applications of wear resistant steel plates in the mining industry. The end-use of wear resistant steel plates in construction industry will also remain lucrative, reflecting an average 27% share on global wear resistant steel plate market volumes through 2026.
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Competition Tracking
Providing innovative solutions to meet the specifications will be a prominent trend exercised by wear resistant steel plate manufacturers across the globe. Top steel producing companies such as ArcelorMittal, China Baowu Steel Group Corporation Limited, Nippon Steel & Sumitomo Metal Corporation and Ansteel Group Corporation will be actively partaking in the global production of wear resistant steel plates in the future. The global manufacturing landscape for wear resistant steel plates will also witness the presence of companies namely, SSAB AB, Thyssenkrupp AG, DHS - Dillinger Hütte Saarstahl AG, A R Brown McFarlane & Co Ltd., Voestalpine AG, Precision Grinding, Inc., Xinyu Iron & Steel Co., Ltd., Bisalloy Steel Group Limited, Salzgitter Aktiengesellschaft, and Novolipetsk Steel.
- Global Economic Outlook
- Global Wear Resistant Steel Plate Market - Executive Summary 2.1. Global Wear Resistant Steel Plate Market – Opportunity Analysis
- Global Wear Resistant Steel Plate Market Overview 3.1. Introduction 3.1.1. Global Wear Resistant Steel Plate Market Taxonomy 3.1.2. Global Wear Resistant Steel Plate Market Definition 3.2. Global Wear Resistant Steel Plate Market Size (US$ Mn) & Volume (‘000 Tonnes) and Forecast, 2012-2026 3.2.1. Global Wear Resistant Steel Plate Market Y-o-Y Growth 3.3. Global Wear Resistant Steel Plate Market Dynamics 3.4. Steel Industry Overview 3.4.1.Finished Steel Products Consumption Comparison 3.4.1.1. Y-o-Y Growth rate Comparison of Finished Steel Products By Region 3.5. Key Crude Steel Producing Countries 3.6. Industry Wise Application Analysis 3.7. Supply Chain 3.8. Cost structure 3.9. Forecast Factors 3.10. Forecast Scenario 3.11. Region Wise Market Positioning Assessment 3.12. Porter’s Analysis
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