Global Abrasion Resistant Steel Plate Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Abrasion Resistant Steel Plate Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Wear-resistant steel plate is a carbon alloy steel containing one or more elements such as nickel, aluminum, copper, chromium, molybdenum, vanadium, titanium, niobium, etc. Common wear-resistant steel plates are made of at least 0.2% nickel, aluminum or copper. Made of stainless steel alloy. Wear-resistant steel plates undergo heat treatments such as quenching and tempering to increase their strength. Adding carbon makes the wear-resistant material harder, and adding alloys makes it easier to form and weather-resistant. The composition of wear-resistant steel plates varies from factory to factory. Hardness is the most important factor for engineers when evaluating wear-resistant steel plates. Wear-resistant steel plate may be 4 or 5 times longer than regular steel plate, allowing it to withstand harsh environments and resist acidic environments better than traditional steel. Wear-resistant steel plates are used in a range of heavy-duty applications to reduce the impact of wear on machinery and equipment, primarily in the mining and construction industries.

Market Overview:

The latest research study on the global Abrasion Resistant Steel Plate market finds that the global Abrasion Resistant Steel Plate market reached a value of USD 4002.03 million in 2023. It’s expected that the market will achieve USD 4942.05 million by 2029, exhibiting a CAGR of 3.58% during the forecast period.

Increased labor costs

Affected by the aging of the population and declining fertility rates, the growth rate of China's labor supply continues to slow down, while labor costs are rising at an accelerated pace. A research report released by the China Macroeconomic Forum on March 26, 2022, shows that after the outbreak of the epidemic in 2020, the global labor market has undergone drastic changes, and the unemployment rate has surged, mainly in developed countries. As the epidemic continues to develop and various countries' epidemic prevention policies change, the unemployment rate has declined. However, in this process, the decline in the labor participation rate has led to varying degrees of labor shortages in various industries, accompanied by rising wages. The increase in labor costs coupled with the increase in raw material and freight costs has hindered the development of the wear-resistant steel plate industry.

The level of production control is complex

The production and manufacturing process of wear-resistant steel plates is complex and involves many procedures. Small deviations in any link will lead to quality problems in the end product. To ensure that the products meet the processing accuracy requirements in each processing process, engaging in batch production of wear-resistant steel plates not only requires advanced processing equipment but also requires targeted integration, optimization, and improvement of various types of equipment. Higher production equipment and technology The level of process control is the prerequisite to ensure the orderly and smooth completion of wear-resistant steel plate processing procedures and stable product quality. In addition, wear-resistant steel plate manufacturing companies mostly adopt an order-based customized production model, and customers have diversified needs. The orderly cooperation of each production line is a prerequisite for ensuring safe and orderly production, stable product quality, and on-time delivery. The enterprise is to be continuously accumulated and formed in the long-term production practice. It is difficult for new companies entering the industry to master this capability quickly, thus forming a barrier to production control levels.

Region Overview:

In 2022, the share of the Abrasion Resistant Steel Plate market in Europe stood at 38.89%.

Company Overview:

SSAB is one of the major players operating in the Abrasion Resistant Steel Plate market, holding a share of 30.68% in 2023.
SSAB is a highly specialized, customer-oriented global steel company. SSAB develops high-strength steels and provides services for better performance and sustainability. The company is a leading manufacturer of advanced high-strength steel (AHSS) and quenched and tempered steel (Q&T), strip, plate and tube products, and construction solutions in global markets.

Segmentation Overview:

By type, 400 HB segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Mining industry segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Abrasion Resistant Steel Plate market covered in Chapter 3:

Wuyang Steel
Nippon Steel
Dillinger
JFE
ArcelorMittal（Industeel）
Essar Steel Algoma
NLMK Clabecq
ThyssenKrupp
SSAB
Shandong Iron and Steel Group Co., Ltd.
Acroni
Xinyu Iron and Steel

In Chapter 4 and Chapter 14.2, on the basis of types, the Abrasion Resistant Steel Plate market from 2019 to 2030 is primarily split into:

Under HB 400
400 HB
450 HB
500 HB
Above HB 500

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Abrasion Resistant Steel Plate market from 2019 to 2030 covers:

Mining industry
Construction industry
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)