Market Overview:
The global wear resistance steel market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for wear resistant steel from various end-use industries, such as construction industry, mining equipment industry, and other applications.
Product Definition:
A steel alloy with high resistance to wear and tear. Wear resistance steel is used in a variety of applications where parts must withstand constant wear and abrasion, such as in the construction of machines, tools, or other equipment.
HB
The HB value of 400 is the highest wear resistance possible in steel. The wear resistance steel with HB value below 400 will have lower wear resistance compared to that of a Wear Resistance Steel with higher number.
Wear resistant steels are widely used in automotive and construction industry owing to their superior properties such as high strength, corrosion & heat tolerance along with low maintenance costs.
HB 400-500:
The HB 400-500 is a new higher temperature range for wear resistance steel. The reason behind this change was to provide better protection against high heat applications in the foundry and automotive industries.
In the past, there were two different types of ranges HB 350 - 450 and HB 600 - 750 which had very distinct characteristics.
Application Insights:
The construction industry was the largest application segment in 2017 and accounted for a market share of more than 45% in terms of volume. The wear resistance steel products are widely used in the construction industry owing to their ability to withstand tough environmental conditions such as high temperature, corrosion and impact.
In terms of revenue, the mining equipment industry is projected to witness a CAGR of XX% from 2018 to 2030. The growth can be attributed on account of increasing demand for metals from various industries including automotive and construction which require large quantities daily for manufacturing purposes or repairs at different levels underground. In addition, there is an increase in exploration activities globally which requires huge investments on a regular basis which further boosts product demand over the forecast period.
Regional Analysis:
Asia Pacific dominated the global wear resistance steel market in 2017 and is expected to continue its dominance over the forecast period. The presence of key manufacturers such as Nippon Steel & Sumitomo Metal Corporation, India, and China coupled with low labor costs has attracted numerous steel producers to set up their manufacturing units in this region. Furthermore, increasing infrastructure spending coupled with rising mining equipment production is anticipated to drive demand for HBWR steels over the forecast period.
North America accounted for a significant share of global revenue owing to growing construction industry on account of increased government expenditure on infrastructural projects such as airports and sports complexes along with rising household expenditure due to an improving economy will drive product demand over the projected period. In addition, stringent regulations by regulatory bodies regarding employee safety are anticipated boost product adoption across various industries including mining equipment industry which may propel market growth during the forecast period.
Growth Factors:
- Increasing demand from end-use industries such as automotive, construction, and engineering sectors
- Growing awareness about the benefits of wear resistance steel among consumers
- Rising investments by key players in research and development to improve the quality of products
- Proliferation of online retail platforms that offer a wide range of wear resistance steel products at competitive prices
- Growing popularity of customized wear resistance steel products
Scope Of The Report
Report Attributes
Report Details
Report Title
Wear Resistance Steel Market Research Report
By Type
HB<400, HB 400-500, HB>500
By Application
Construction Industry, Mining Equipment Industry, Other
By Companies
SSAB, JFE, ThyssenKrupp, Dillinger, Bisalloy, ESSAR Steel Algoma, ArcelorMittal, NSSMC, NLMK Clabecq, NanoSteel, SSAB, WUYANG Steel, ANSTEEL, TISCO, Acroni, Salzgitter
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
208
Number of Tables & Figures
146
Customization Available
Yes, the report can be customized as per your need.
Global Wear Resistance Steel Market Report Segments:
The global Wear Resistance Steel market is segmented on the basis of:
Types
HB<400, HB 400-500, HB>500
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Construction Industry, Mining Equipment Industry, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- SSAB
- JFE
- ThyssenKrupp
- Dillinger
- Bisalloy
- ESSAR Steel Algoma
- ArcelorMittal
- NSSMC
- NLMK Clabecq
- NanoSteel
- SSAB
- WUYANG Steel
- ANSTEEL
- TISCO
- Acroni
- Salzgitter
Highlights of The Wear Resistance Steel Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- HB<400
- HB 400-500
- HB>500
- By Application:
- Construction Industry
- Mining Equipment Industry
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Wear Resistance Steel Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Wear resistance steel is a type of steel that can resist wear and tear. This means that it can last longer than other types of steel, which makes it ideal for use in products that are subject to heavy use.
Some of the key players operating in the wear resistance steel market are SSAB, JFE, ThyssenKrupp, Dillinger, Bisalloy, ESSAR Steel Algoma, ArcelorMittal, NSSMC, NLMK Clabecq, NanoSteel, SSAB, WUYANG Steel, ANSTEEL, TISCO, Acroni, Salzgitter.
The wear resistance steel market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Wear Resistance Steel Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Wear Resistance Steel Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Wear Resistance Steel Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Wear Resistance Steel Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Wear Resistance Steel Market Size & Forecast, 2018-2028 4.5.1 Wear Resistance Steel Market Size and Y-o-Y Growth 4.5.2 Wear Resistance Steel Market Absolute $ Opportunity
Chapter 5 Global Wear Resistance Steel Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Wear Resistance Steel Market Size Forecast by Type
5.2.1 HB<400
5.2.2 HB 400-500
5.2.3 HB>500
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Wear Resistance Steel Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Wear Resistance Steel Market Size Forecast by Applications
6.2.1 Construction Industry
6.2.2 Mining Equipment Industry
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Wear Resistance Steel Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Wear Resistance Steel Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Wear Resistance Steel Analysis and Forecast
9.1 Introduction
9.2 North America Wear Resistance Steel Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Wear Resistance Steel Market Size Forecast by Type
9.6.1 HB<400
9.6.2 HB 400-500
9.6.3 HB>500
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Wear Resistance Steel Market Size Forecast by Applications
9.10.1 Construction Industry
9.10.2 Mining Equipment Industry
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Wear Resistance Steel Analysis and Forecast
10.1 Introduction
10.2 Europe Wear Resistance Steel Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Wear Resistance Steel Market Size Forecast by Type
10.6.1 HB<400
10.6.2 HB 400-500
10.6.3 HB>500
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Wear Resistance Steel Market Size Forecast by Applications
10.10.1 Construction Industry
10.10.2 Mining Equipment Industry
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Wear Resistance Steel Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Wear Resistance Steel Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Wear Resistance Steel Market Size Forecast by Type
11.6.1 HB<400
11.6.2 HB 400-500
11.6.3 HB>500
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Wear Resistance Steel Market Size Forecast by Applications
11.10.1 Construction Industry
11.10.2 Mining Equipment Industry
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Wear Resistance Steel Analysis and Forecast
12.1 Introduction
12.2 Latin America Wear Resistance Steel Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Wear Resistance Steel Market Size Forecast by Type
12.6.1 HB<400
12.6.2 HB 400-500
12.6.3 HB>500
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Wear Resistance Steel Market Size Forecast by Applications
12.10.1 Construction Industry
12.10.2 Mining Equipment Industry
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Wear Resistance Steel Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Wear Resistance Steel Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Wear Resistance Steel Market Size Forecast by Type
13.6.1 HB<400
13.6.2 HB 400-500
13.6.3 HB>500
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Wear Resistance Steel Market Size Forecast by Applications
13.10.1 Construction Industry
13.10.2 Mining Equipment Industry
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Wear Resistance Steel Market: Competitive Dashboard
14.2 Global Wear Resistance Steel Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 SSAB
14.3.2 JFE
14.3.3 ThyssenKrupp
14.3.4 Dillinger
14.3.5 Bisalloy
14.3.6 ESSAR Steel Algoma
14.3.7 ArcelorMittal
14.3.8 NSSMC
14.3.9 NLMK Clabecq
14.3.10 NanoSteel
14.3.11 SSAB
14.3.12 WUYANG Steel
14.3.13 ANSTEEL
14.3.14 TISCO
14.3.15 Acroni
14.3.16 Salzgitter