The market for wear plates is anticipated to expand annually by 5.1% in 2021, reaching US$ 6.9 Billion by the year’s end. To guarantee the equipment’s long-term safety, wear plates are utilised in a range of end-use industries.
The analysts at Future Market Insights have leveraged extensive rounds of critical and detailed secondary research to arrive at different Wear Plates Market forecasts and predictions, both national and international levels. They have utilized various industry-wide unmistakable business merge estimations, figures, and market information into income assessments and projections in the Wear Plates Market.
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Impact of COVID-19 on Industrial Automation Market
COVID-19 pandemic has caused a severe impact on the global economy at various levels and the impact is seen on the Industrial automation market as well. This thriving sector is expected to offset a sharp decline in sales during the lockdown when the manufacturing units experienced shutdowns and a dearth in raw materials supply and absence of human resources.
Inferable from the emergency brought about by the pandemic, the production, and supply chain activities have experienced a minor slump. However, the market is expected to gradually recover post-COVID-19, which will present attractive opportunities for sales within various regions of the world in the coming years.
On account of growing applications in waste management, pulp & paper, chemicals, and other industries, demand in wear plate market is expected to increase over the forecast period. Subsequently, growing research and development activities will accelerate the growth in the wear plate market.
Key Players
Some of the key market participants in the global Wear Plates market, identified across the value chain include:
- SSAB
- JFE
- ThyssenKrupp
- Dillinger
- ArcelorMittal
- Essar Steel Algoma
- NSSMC
- Wuyang Steel
- Xinyu Iron & Steel
- NLMK Clabecq
- Baosteel Group
- Baohua Resistant Steel
- Bisalloy
- ANSTEEL
- TISCO
- Bisalloy Jigang
According to Future Market Insights (FMI), the wear plates market is likely to witness robust growth in the near future, on the back of expansion of end-use industries and applications in manufacturing.
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Global Wear Plate Market by Category
By Material Type:
- Mild Steel
- Hardox
- Abrasion Resistant Grade
- Flame Hardened Grade
- Austenitic Stainless Steel
- Duplex
- Niobium Carbide
- Alloys
- Tungsten Carbide Coated Steel
- Chromium Carbide Coated Steel
- Boron Carbide Coated Steel
- Bronze
- Carbon Graphite
By Plate Thickness:
- 3 to 6 mm
- 6 to 10 mm
- 10 to 15 mm
- 15 to 20 mm
- 20 to 25 mm
- 25 to 50 mm
- 60 to 120 mm
- 120 to 150 mm
By End Use:
- Mining
- Power Generation
- Cement & Refractories
- Sugar
- Off-Road Construction & Earthmoving Equipment
- Waste Management
- Pulp & Paper
- Chemicals
- Steel & Aluminium Mills
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia and Pacific
- East Asia
- Middle East & Africa (MEA)
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