The ship plate market size was estimated to be over $33 billion in 2018, and the industry will grow at a CAGR of more than 3% by 2027.
The main factor driving the growth of the global marine plate market is the availability of raw materials. Steel, which is used as a raw material for manufacturing plate for ships, is widely applied in major end-use industries such as shipbuilding, automobiles, and construction, and thus demand continues to increase in both developed and developing countries. China is leading global steel production. Five of the steel producers were ranked as one of the top ten steel manufacturers in the world. Apart from that, India has seen a significant increase in steel production, allowing it to replace Japan, the world’s second-largest steel producer. Growing demand in the end-use industry, combined with favorable government norms, will drive steel production, which in turn will drive market growth.
A full report of Ship Plate Market available at https://www.orionmarketreports.com/ship-plate-market/24302/
Ship Plate Market Segmentations
By Product
• General Strength Ship Plate
• High Strength Ship Plate
By End User:
• Tankers
• Bulk Carriers
• Container Ships
• Chemical Ships
Company profiles
• POSCO
• Nanjing Steel
• Chongqing Steel
• Hyundai
• Valin Xiangtan Steel
• NSSMC
• Ansteel
• Baosteel
• ArcelorMittal
• Dongkuk
• JFE Steel
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
