The Ship Plate Market is set to grow from its current market value of more than USD 33 billion to over USD 38 billion. 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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Based on the product spectrum, ship plate market comprises two segments namely carbon steel and stainless-steel plates. Modern cargo tanks are mainly constructed using stainless steel plates owing to their superior mechanical properties and considerable corrosion resistance. Stainless steel differs significantly from standard carbon steel, primarily owing to the presence of chromium which reduces surface corrosion and unlike carbon steel doesn’t get easily rust when exposed to air and moisture in sea.

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 industry size. Moreover, rise in ship renovation and modification activities will augment product demand, fostering ship plate industry growth.

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.

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 ship’s 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.

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 industry 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.

Credible reports cite that Asia’s shipbuilding industry share is rapidly expanding, with China, Korea, and Japan accounting for over 85% of global production. Technological advancements in the shipping industry is estimated to propel market size. For example, in 2019, China unveiled the world’s first intelligent Very Large Crude Carrier (VLCC) with a capacity of over 2.257 million barrels, trends  that are likely to drive ship plates demand.

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Some Point from Table of Contents:

Chapter 4. Ship Plate Market, Product By Application

4.1. Global ship plate industry product insights

4.2. Carbon steel ship plates

4.2.1. Market estimates and forecast, 2014 – 2025

4.2.2. Market estimates and forecast, by application, 2014 – 2025

· Tanker

· Bulker

· Container

· Others

4.2.3. Market estimates and forecast, by region, 2014 – 2025

4.3. Stainless steel ship plates

4.3.1. Market estimates and forecast, 2014 – 2025

4.3.2. Market estimates and forecast, by application, 2014 – 2025

· Tanker

· Bulker

· Container

· Others

4.3.3. Market estimates and forecast, by region, 2014 – 2025

Chapter 5. Ship Plate Market, By Application

5.1. Global ship plate market application insights

5.2. Tanker

5.2.1. Market estimates and forecast, 2014 – 2025

5.2.2. Market estimates and forecast, by region, 2014 – 2025

5.3. Bulker

5.3.1. Market estimates and forecast, 2014 – 2025

5.3.2. Market estimates and forecast, by region, 2014 – 2025

5.4. Container

5.4.1. Market estimates and forecast, 2014 – 2025

5.4.2. Market estimates and forecast, by region, 2014 – 2025

5.5. Others

5.5.1. Market estimates and forecast, 2014 – 2025

5.5.2. Market estimates and forecast, by region, 2014 – 2025

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