Abrasion Resistant Steel

Global abrasion resistant steel are forecast to 4.01% over the next five years. According to the WK-chem Research, “Global Abrasion Resistant Steel Professional Survey Report 2024, Forecast to 2029”, abrasion resistant steel is an essential material for downstream industrial applications, and it has an important impact on the main performance indicators and operational stability of equipment, thus promoting the development of abrasion resistant steel.. The compound annual growth rate (CAGR) for the 2024-2029 period is projected to be 4.01% base on WK-chem Research regression analysis model.

Analysts’ Viewpoint:
“Manufacturers should be also working towards industry-specific products and production expertise, wide-ranging preprocessing possibilities and mergers & acquisitions, which would further help in the growth of the steel construction industry, which in turn will influence the abrasion resistant steel market”, said Howard Hall, Senior analyst, in WK-chem Research.

Market insight:
The abrasion resistant steel market has witnessed a significant growth owing to factors such as growth of mining and agriculture sectors. Moreover, improved and advanced form of product offerings by manufacturers for harsher environments is expected to cater better opportunities for the key players operating in the abrasion resistant steel market.
However, high cost associated with the raw materials is projected to hamper the overall growth of the abrasion resistant steel market.

Competition Landscape:
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading abrasion resistant steel companies that include: SSAB AB, ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation, Thyssenkrupp AG, Bisalloy Steel Group Limited, DHS - Dillinger Hutte Saarstahl AG, A R Brown McFarlane & Co Lt, Ansteel Group Corporation, Nippon Steel & Sumitomo Metal Corporation, Novolipetsk Steel.

Segmentation of Abrasion Resistant Steel Market:
According to the type, the market for abrasion resistant steel is divided into: A514, AR400, AR500 and Others. AR500 has the largest market share. AR500 steel is chemically similar to AR400 steel, except the hardness range is higher and it has more carbon and manganese than AR400. These elemental differences help the steel achieve a higher surface hardness. The steel in the AR500 plates is a harder and tougher material.
According to the application, the market for abrasion resistant steel is divided into: Mining, Construction, Agriculture, Other Industries. Agriculture has the largest market share. Abrasion resistant steel offers three times extended lifespan over conventional steels, owing to which it is becoming the material of choice in heavy machinery such as earthmoving equipment. Advanced, viable wear resistant steel with yielding strength of 1700, 1500, and 200 MPa meets the requirement of the agricultural industry.

Abrasion Resistant Steel Market: Regional Analysis
In terms of geography, the global abrasion resistant steel market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Asia Pacific has led the global abrasion resistant steel market in the historical past and will continue on this growth trajectory. China and India, together will account for more than half of the regional demand and will propel the global market in terms of value and volume. Closely followed by North America and Europe which are expected to witness high growth.

Frequently Asked Questions