Ship Plate Market Size By Product (Carbon Steel, Stainless Steel), By Application (Tanker, Bulker, Container), Industry Analysis Report, Regional Outlook (U.S., Romania, Italy, Germany, The Netherlands, China, South Korea, Japan, Philippines, India, Brazil, UAE), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025Ship Plate Market will likely surpass USD 38 billion by 2025; according to a new research report.
Rising international trade activities has increased the demand for shipbuilding globally, which will contribute to ship plates demand in their manufacturing. Moreover, easy availability of steel as raw material with high tensile strength, weight reduction and improved cruising range at relatively lower cost will increase the ship plate market. Additionally, increasing disposable income on travel & tourism activities in cruises over the recent years has increased the use of ship plates in their manufacturing, which will boost the product market in the near future.
Increasing investments in shipbuilding by various developed and developing countries for several multipurpose applications. This mainly includes usages in manufacturing of naval vessels for security & warfare; containers, tankers, bulk carriers for trade and is also used in manufacturing of cruise and passenger vessels for travel & tourism. However, enormous budgets and production costs coupled with fluctuating steel price might hinder the growth of ship plate market during the projected timeframe.
On the basis of type, product market is categorized into carbon steel and stainless-steel ship plates. Ship plates by carbon steel grade usually possesses high strength and so they are chiefly used in cruise vessels and bulk carriers. Moreover, these type of ship plates are cost effective in comparison to stainless steel type. Rising order for bulk carriers in trade and growing demand of cruise vessels from travel & tourism segment will surge carbon steel ship plate demand in the market.
By application, ship plate market is categorized into container, tanker, bulker and others. Bulker will lead the segment during the forecast timespan owing to rising demand from bulk cargo & other trade activities. Nevertheless, tankers observed the highest growth due to increase in trade of gases or store liquids, which in term will boost ship plate market growth in application segments.
On regional basis, Asia Pacific seems to dominate the product market with the share of over 90% during the forecast timespan. This is mainly due to swelling shipbuilding activities in the region, owing to advance shipbuilding infrastructure as well as government favoring policies and investments. South Korea holds the maximum industry share in comparison to other Asian countries. Daewoo Shipbuilding, Samsung Heavy Industries and Hyundai Heavy Industries are among some major shipbuilders in South Korea dominating the segment of container vessels. However, Europe is likely to witness maximum growth during the projected timespan due to recovery of shipbuilding orders as well as high forward cover in the region.
Some key manufactures in the industry include POSCO, Essar Steel, Hyundai Steel, JFE Steel, Nippon Steel, Ansteel Group, Arcelor Mittal, Dongkuk Steel Mill Co. Ltd., Chapel Steel Corporation, Shandong Kunda Steel Co., Ltd. , Baosteel Group, etc. Manufacturers will compete with their rivals based on product price and capacity expansions.
Ship plate market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD Million from 2014 to 2025, for the following segments:
Ship Plate Market Product by application
Carbon steel ship plate
Stainless steel ship plate
Ship Plate Market by End-user
The above information is provided on a regional and country basis for the following:
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