Wear Plate Market is expected to show significant growth over the forecast period

Worldwide Market Reports added Latest Research Report titled “Wear Plate Market is expected to show significant growth over the forecast period”

Wear plates are sections of hardened steel plates with variety of thicknesses that are welded in areas of severe wear such as the insides of feeders, crushers, transfer chutes. They are made from different materials such as C954 Aluminum Bronze, 4140QT, 4340QT, AR400, and AR500. It has applications in mined material passes, which can create abrasion leading to wearing of these areas. Also, it is used where friction between two parts or materials creates degradation. Wear plates are majorly used for expendable items to prevent excessive wear or damage to expensive equipment. Steel wear plates may bolt onto a machine that slides or rotates in a manufacturing process, while they can also be found where manufactured parts or minerals are regularly rubbing or abrasively contacting the surface.

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Increasing applications of wear plate by various end-use industries, owing to its anti-corrosion properties is key factor driving growth of the wear plate market. Also, it is common type of abrasion resistant steel plate that is considered durable under harsh conditions. Moreover, they are used to prevent damage of machinery due to abrasion or impact leading to expanded life of the machine. Machines or components that require wear plates include crushers, shredders, casting equipment, steel and aluminum mill equipment, and heavy earth moving and lining equipment. Furthermore, other applications for abrasion resistant steel include wear blades, choppers, scrapers, mining tools, chippers, punch press applications, wear rings, wear segments, and bucket scrapers.

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Key Development of Wear Plate Market

Market players are engaged in developing innovative products in order to meet increasing demand from end-use industries. For instance, in March 2018, Martin Engineering, global innovator of bulk handling accessories, introduced Arcoplate, a wear-resistant fused alloy plate that has ability to withstand more abrasion than other protective metal linings.  Arcoplate combines a smooth and dense chromium carbide-rich metal alloy face plate with a hard steel back plate to resist gouging, erosion, temperature extremes and material buildup. Furthermore, in September 2017, Hardox 500 Tuf, a new generation of wear plate for dump bodies and buckets was introduced at the Oil Sands Trade Show in Fort McMurray, Alberta. The new Hardox 500 Tuf has exceptional strength, hardness and toughness in one and the same wear plate. It combines properties from Hardox 450 and Hardox 500. Key players operating in wear plate market include SSAB, JFE, ThyssenKrupp, Dillinger, ArcelorMittal, Essar Steel Algoma, NSSMC, Wuyang Steel, Xinyu Iron & Steel, NLMK Clabecq, Baosteel Group, Baohua Resistant Steel, Bisalloy, ANSTEEL, TISCO, and Bisalloy Jigang

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