Ship Plate Market

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Ship Plate Market - In-Depth Outlook Trends
Analysis to 2025
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• Ship Plate Market Scenario

• Increased demand for long distance freight
  shipping will foster global shipbuilding
  industry, thereby driving ship plate market
  trends. The shipbuilding industry continually
  requires large quantities of structural steel
  plates primarily to build ships hull, main deck
  and sides. The product is designed to offer
  enhanced features like high tensile strength,
  corrosion resistance, reduced ship weight and
  lower cost maintenance. It also provides good
  welding performance, processing performance and
  high surface quality.
• With rapid development in the marine industry,
  ship plate market will witness exponential growth
  over coming years. Ship building industry trends
  such as demand for new, more environmentally
  friendly ships will further bolster ship plate
  market size. Moreover, rise in ship renovation
  and modification activities will augment product
  demand, fostering ship plate market growth.
• These key properties have led to increased
  traction gained by stainless-steel plates market
  in the manufacturing of tanker vessels that carry
  toxic chemical products. Rapid growth in steel
  manufacturing industry along with development of
  enhanced materials will augment the growth of
  stainless-steel ship plate industry size.

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• In the modern ship building industry, a
  combination of duplex stainless steel and
  stainless clad steel are used to build cargo
  tanks which offer greater strength and excellent
  corrosive resistance. With increasing use of
  chemical tankers, carriers, and containers,
  stainless steel plate is expected to dominate
  ship plate market share in upcoming years.
• Increase in number of new cruise ship orders will
  drive Europe ship plate industry size. The
  regions shipbuilding industry is renowned for
  construction of complex vessels like cruise
  ships, ferries, yachts, and dredgers. It also
  boasts of a strong position in building
  submarines and other naval vessels. The region
  has secured significant number of shipbuilding
  orders in past couple of years.
• Ship plate market is primarily driven by rising
  development of new ship vessels and increase in
  trade activities facilitated by ship freight.
  Increasing use of stainless-steel plates owing to
  their excellent mechanical properties and
  corrosion resistance will boost industry size.
  Moreover, increasing shipbuilding activity in the
  Asia Pacific and Europe is anticipated to drive
  ship plate industry growth.

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• Regional Analysis

• Asia Pacific will secure about 90 of the global
  ship plate market share over the forecast period.
  Factors like increasing shipbuilding activities,
  availability of shipbuilding infrastructure and
  supportive government investment will drive
  regional ship plate market growth. Moreover,
  presence of shipbuilding conglomerates like China
  Shipbuilding Industry Corp., Mitsubishi Heavy
  Industries, Hyundai Heavy Industries, China State
  Shipbuilding Corp. and Samsung Heavy Industries
  will support ship plate industry expansion.

• Competitive Analysis

• Some participants of ship plate market include
  JFE Steel, POSCO, Hyundai Steel, Nippon Steel,
  Essar Steel, Arcelor Mittal, Baosteel Group,
  Ansteel Group, Chapel Steel Corporation, etc.
  Varying the product price according to the market
  along with production capacity expansion are some
  of the strategies implemented by these major
  players.

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