Wear- Resistant Plates Save Money On Maintenance Because It Outlasts All Other Steels
According to Future Market Insights (FMI), the wear plates market is expected to grow rapidly in the near future, owing to the expansion of end-use industries and manufacturing applications.
The use of wear-resistant steel plates reduces the weight of the equipment by 30-40%. As a result, the global wear plates market is expected to grow at a CAGR of 6.3 percent between 2021 and 2031.
Wear plate market demand is expected to rise due to growing applications in waste management, pulp and paper, chemicals, and other industries over the forecast period. As a result, increased research and development activities will propel the wear plate market forward.
Here is a great article from Future Market Insights on wear plate and increased demand through 2031.
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.
Global Wear Plate Market by Category
By Material Type:
- Mild Steel
- Hardox
- Abrasion Resistant Grade
- Flame Hardened Grade
Global Wear Plate Market by Category
