Wear Resistant Steel Plate Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2027

Published on : Dec-2019 | List of Tables : 79 | List of Figures : 63 | No. of Pages : 170 | Report Code : FACT522MR |

Wear Resistant Steel Plates Market Soars to New Heights, Superior Lifespan Increasing Application in Heavy Machinery

Wear resistant steel plate offers three times extended lifespan over conventional steels, owing to which it is becoming the material of choice in heavy machinery such as earthmoving equipment. Advanced, viable wear resistant steel plates with yielding strength of 1700, 1500, and 200 MPa meets the requirement of the agricultural industry. Wear resistant steel plates reduce vehicle weight by 25-40% and also curbs the emission of greenhouse gases owing to which consumption of wear resistant steel plates in the automotive industry will increase significantly over the forecast period.  Mining Industry will act as a growth lever for the market and is likely to witness steady growth with an annual growth rate of ~5% throughout the forecast period. Attributed to all these factors the wear resistant steel plate market is expected to register a growth of ~4% during the forecast period.

Asia Pacific Reigns Supreme, North America and Europe Closing In

APEJ has led the global wear resistant steel plate market in the historical past and will continue on this growth trajectory. The region is all set to create an absolute $ opportunity of ~US$ 4.7 Bn by the end of the forecast period. China and India, together will account for more than half of the regional demand and will propel the global market in terms of value and volume. APEJ is closely followed by North America and Europe which are expected to witness high growth till 2029.

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Europe’s AgriTech 2030 maps out the future for advanced agricultural machinery which will spike the demand for wear resistant steel plates during the forecast period. Manufacturers in the region are also working towards industry-specific products and production expertise, wide-ranging preprocessing possibilities and mergers & acquisitions, which would further help in the growth of the steel construction industry of Europe, which in turn will influence the wear resistant steel plate market.

Untapped Applications Will Offer Remunerative Opportunities for Players

The global wear resistant steel plate market is relatively fragmented, in which SSAB AB, ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation, Thyssenkrupp AG, Bisalloy Steel Group Limited and DHS - Dillinger Hutte Saarstahl AG are some of the key stakeholders. To leverage the immense potential of the global wear resistant steel plate market, several organic and inorganic strategies have been observed by prominent players.

  • For instance, in November 2018, SSAB, producer of advanced high-strength steels (AHSS) and quenched & tempered steels (Q&T), announced an investment of approximately US $100 million in Alabama to increases its high-strength steel production capacity by 130 kilotons.
  • Similarly, in September 2019, ArcelorMittal, multinational steel manufacturer have announced an investment of US $500 million in Liberia’s mine to extend its mine life to ship around 15 million tons of ore per year. The mining activity will provide the necessary raw material to manufacture abrasion and impact resistant steels for an extended period.
  • Furthermore, in March 2018, NIPPON STEEL CORPORATION, announced near US $5.5 billion of investment to expand its market reach worldwide considering mergers and acquisitions for the next three years.
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Investments done by the above-mentioned companies will increase their production capacity, penetration in the market and will meet the demand for wear resistant steel plates throughout the assessment period. Moreover, advanced product offerings by players for harsher environments will open up doorways for new applications.

Wear Resistant Steel Plate Market - Scope of the Report

The wear resistant steel plate market study done by Fact.MR gives exclusive information about how the market will grow during the forecast period of 2019 - 2027. The study predicts crucial trends that are determining growth of the wear resistant steel plate market. This newly published report sheds light on vital dynamics, such as drivers, restraints, and opportunities for key market players as well as emerging players associated with the manufacturing of wear resistant steel plate. The report primarily conveys a summary of the market, considering the present and upcoming mining activities and infrastructure developments to reveal striking sides relating to the adoption of wear resistant steel plate across prominent regional markets.

A detailed assessment of the market supply chain analysis, business execution, and value chain analysis across the regional markets have been provided in the report. A list of prominent companies operating in the wear resistant steel plate market enhance the reliability of this comprehensive research study.

Wear Resistant Steel Plate Market: Report Summary

The study offers an inclusive analysis on diverse features including demand, revenue generation, and sales by key players in the wear resistant steel plate market across the globe. A comprehensive study on the market has been done through optimistic and conservative scenarios. The analysis and estimation of price point comparison by region with the global average price has been included in this study.

Wear Resistant Steel Plate Market: Segmentation

Fact.MR has segmented the wear resistant steel plate market on the basis of product, end-use industry, and region.

Product

End-use Industry

Region

A514

Mining

North America

AR400

Construction

Latin America

AR500

Agriculture

Europe

Other Products

Other Industries

Japan

 

 

APEJ

 

 

MEA

Wear Resistant Steel Plate Market: Analysis on Market Size Evaluation

Existing predictions of the wear resistant steel plate market, encompassing current as well as forthcoming values estimates, analysis on region-wise demand trends, and price index have been assimilated in the report.

The market estimation at the regional and global scale of wear resistant steel plate is available in terms of “US$ Mn”. A Y-o-Y growth contrast of the prominent wear resistant steel plate market segments, along with market attractiveness valuation computes have been incorporated in the report. Metrics mentioned above are also based on wear resistant steel plate applications, where wear resistant steel plate witnesses a steady demand.

Wear Resistant Steel Plate Market: Scrutinized Assessment on Regional Segments

The weighted sections have been elaborated in the report of the wear resistant steel plate market, which deliver projection on regional markets. These chapters highlight regional macros (political economic and business environment outlook), which are expected to have a momentous influence on the growth of the wear resistant steel plate market during the forecast period.

Country-specific valuation on the demand for wear resistant steel plate has been offered for each regional market, along with market scope estimates and forecast, price index, price point assessment, and impact analysis of dynamics in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Wear Resistant Steel Plate Market: In-depth Analysis on Competitive Landscape

The report offers the competitive scenario of the wear resistant steel plate market, along with profiles of prominent companies contributing to market expansion. Essential and up-to-date data as well as information correlated to market performers, who are principally engaged in the production and supply of wear resistant steel plate, have been presented with the help of a detailed dashboard view. The market share analysis and comparison of prominent players provided in the report permit readers to take preemptive steps in advancing their businesses.

Company profiles have been combined in the report, which exert essentials such as product portfolio, along with all-inclusive SWOT analysis on each player. The company’s presence is mapped and presented through the matrix for all prominent players functioning in the wear resistant steel plate market. It offers actionable insights to readers, which helps in thoughtfully presenting market status, and predicting competition levels in the wear resistant steel plate market. Prominent companies operating in the global wear resistant steel plate market include A R Brown McFarlane & Co Lt, Ansteel Group Corporation, ArcelorMittal, Bisalloy Steel Group Limited, China Baowu Steel Group Corporation Limited, DHS - Dillinger Hutte Saarstahl AG, GIPO AG, JFE Steel Corporation among others.

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Wear Resistant Steel Plate Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2019 to 2027