Wear Resistant Steel Market Size, Share, By Product (High Manganese Steel, Middle and Low Alloy Wear Resistant Steel, Erosion Corrosion Resistant Steel, Special Wear Resistant Steel, and Others), Type (Under HBW 400, 400 HB, 450 HB, 500 HB, and Above HBW

Published Feb 25, 2025

Length 167 Pages

SKU # PRMI19808446

Description

Wear Resistant Steel Market Size, Share, By Product (High Manganese Steel, Middle and Low Alloy Wear Resistant Steel, Erosion Corrosion Resistant Steel, Special Wear Resistant Steel, and Others), Type (Under HBW 400, 400 HB, 450 HB, 500 HB, and Above HBW 500), Thickness (3/16 Inch, 1/4 Inch, 5/16 Inch, 3/8 Inch, and 1/2 Inch), End-User (Mining and Quarrying, Construction and Infrastructure, Oil and Gas, Power Generation, and Others), and Region - Trends, Analysis, and Forecast till 2035

Wear resistant steel generally has a higher carbon content and also contains manganese, chromium, nickel, vanadium, and boron. These alloying elements increase the hardness and the ductility. These elements also have a positive effect on corrosion resistance, to a limited degree. There is a rapid growth in real estate, mining, and automobile industries which in turn creates a demand for wear resistant steel resulting in wear resistant steel market expansion.

Wear Resistant Steel Market Report Highlights:

Wear resistant steel market size is projected to grow at USD 47.0 Billion in 2035.

The target market size was valued at USD 32.1 Billion in 2024.

The market is growing at a CAGR of 4.3%.

North America holds the biggest wear resistant steel market share.

Asia Pacific is expected to be the fastest growing region in the market during the projected period.

By product, the market is led by the special wear resistant steel segment.

Under type segmentation, the HB 450 segment is expected to hold lion’s share of the market during 2025-2035.

On the basis of thickness, the market is dominated by the 3/16 inch segment due to its versatility and cost-effectiveness.

Based on end-user, the quarrying and mining segment is expected to lead the market.

Wear Resistant Steel Market Key Highlights:

In January 2025, Union Minister of Steel and Heavy Industries in the presence of senior officials from the ministry and captains from the industry at Vigyan Bhavan, New Delhi, launched the second round of PLI scheme for Specialty Steel, such as Wear Resistant Steel, Plated Steel Products, Specialty Rails, Alloy Steel Products and Steel Wires and Electrical Steel, termed as PLI Scheme 1.1. PLI scheme 1.1 is a specialty Steel for five product categories which is the same as the existing PLI Scheme to enable further participation as industry participants requested the ministry for relaxation.

Key Benefits of Purchasing This Report

Gain valuable insights into revenue projections for the overall market and its sub-segments, benefiting industry leaders and new entrants.

Enhance your understanding of the competitive landscape to refine business positioning and optimize go-to-market strategies.

Stay informed on the latest trends in the Wear Resistant Steel Market, including key drivers, challenges, opportunities, and barriers.

Segmentation:

By Product:

High Manganese Steel

Middle and Low Alloy Wear Resistant Steel

Erosion Corrosion Resistant Steel

Special Wear Resistant Steel

Others

By Type:

Under HBW 400

400 HB

450 HB

500 HB

Above HBW 500

By Thickness:

3/16 Inch

1/4 Inch

5/16 Inch

3/8 Inch

1/2 Inch

By End User:

Mining and Quarrying

Construction and Infrastructure

Oil and Gas

Power Generation

Others

By Region:

North America

U.S.

Canada

Europe

Germany

U.K.

France

Russia

Italy

Spain

Netherlands

Rest of Europe

Asia Pacific

China

India

Japan

Australia

Indonesia

Malaysia

South Korea

Rest of Asia Pacific

Latin America

Brazil

Mexico

Argentina

Rest of Latin America

Middle East & Africa

GCC

Israel

South Africa

Rest of Middle East & Africa

Wear Resistant Steel Market Competitive Landscape:

SSAB

Tricon Inc.

ArcelorMittal

Thyssenkrupp AG.

Titus Industries Inc.

ESTI

Nucor Corp.

Ambo Stahl

Baoshan Iron & Steel Co., Ltd.

CeraMetal se S.A

CONQUEST STEEL AND ALLOYS

Sambhav Pipes & Fittings

PRODUR

Key Questions Answered in This Report

1. What was the size of the Wear Resistant Steel Market in 2024?

2. What is the expected growth rate of the Wear Resistant Steel Market during 2025-2035?

3. What are the key factors driving the Wear Resistant Steel Market?

4. What is the breakup of the Wear Resistant Steel Market based on the distribution channel?

5. What are the key regions in the Wear Resistant Steel Market?

6. Who are the key players/companies in the Wear Resistant Steel Market?

7. What are the drivers, restraints, and opportunities in the Wear Resistant Steel Market?

Research Objective and Assumption: Research Objectives; Assumptions; Abbreviations; Market Preview
Report Description: Market Definition and Scope; Executive Summary; Market Snippet, By Product; Market Snippet, By Type; Market Snippet, By Thickness; Market Snippet, By End-User; Market Snippet, By Region; Opportunity Map Analysis; Market Dynamics, Regulations, and Trends Analysis; Market Dynamics; Drivers; Restraints; Market Opportunities; Market Trends; Product Launch; Merger and Acquisitions; Impact Analysis; PEST Analysis; Porter’s Analysis; New Product Launch; Collaboration and Partnership Scenarios; Market Segmentation, By Product, Forecast Period up to 10 Years, (USD Bn); Overview; Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years; Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years; Segment Trends; High Manganese Steel; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; Middle and Low Alloy Wear Resistant Steel; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; Erosion Corrosion Resistant Steel; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; Special Wear Resistant Steel; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; Others; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; Market Segmentation, By Type, Forecast Period up to 10 Years, (USD Bn); Overview; Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years; Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years; Segment Trends; Under HBW 400; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; 400 HB; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; 450 HB; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; 500 HB; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; Above HBW 500; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; Market Segmentation, By Thickness, Forecast Period up to 10 Years, (USD Bn); Overview; Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years; Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years; Segment Trends; 3/16 Inch; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; 1/4 Inch; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; 5/16 Inch; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; 3/8 Inch; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; 1/2 Inch; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; Market Segmentation, By End-User, Forecast Period up to 10 Years, (USD Bn); Overview; Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years; Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years; Segment Trends; Mining and Quarrying; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; Construction and Infrastructure; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; Oil and Gas; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; Power Generation; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; Others; Overview; Market Size and Forecast (USD Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years; Market Segmentation, By Region, Forecast Period up to 10 Years, (USD Bn); Overview; Market Value and Forecast (USD Bn), and Share Analysis (%), Forecast Period up to 10 Years; Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years; Regional Trends; North America; Market Size and Forecast (USD Bn), By Product, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By Type, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By Thickness, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By End-User, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years; U.S.; Canada; Asia Pacific; Market Size and Forecast (USD Bn), By Product, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By Type, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By Thickness, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By End-User, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years; India; Japan; Australia; Indonesia; Malaysia; South Korea; China; Rest of Asia Pacific; Europe; Market Size and Forecast (USD Bn), By Product, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By Type, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By Thickness, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By End-User, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years; U.K.; Germany; France; Russia; Italy; Spain; Netherlands; Rest of Europe; Latin America; Market Size and Forecast (USD Bn), By Product, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By Type, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By Thickness, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By End-User, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years; Brazil; Mexico; Argentina; Rest of Latin America; Middle East and Africa; Market Size and Forecast (USD Bn), By Product, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By Type, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By Thickness, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By End-User, Forecast Period up to 10 Years; Market Size and Forecast (USD Bn), By Country, Forecast Period up to 10 Years; GCC; Israel; South Africa; Rest of Middle East and Africa

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