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Ship Plate Market Size
- Report ID: GMI3734
- Published Date: Jun 2024
- Report Format: PDF
Ship Plate Market Size
Ship Plate Market size was valued at USD 24.9 billion in 2023 and is estimated to grow at a CAGR of 3.1% between 2024 and 2032. The growing construction of maritime vessels coupled with increasing marine transport is driving the expansion of the market. There is a continuous demand for ships and vessels as the global economy and international trade expand.
For instance, according to the UNCTAD Report 2022, the international shipping industry is responsible for carriage of around 80% of world trade. Ship plates are critical components in the construction of a wide range of ships including cargo ships, tankers, and passenger vessels. In addition to this, the rising shipbuilding activities in emerging nations, such as China, Japan, India, and others, is expected to boost market growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Ship Plate Market Size in 2023: | USD 24.9 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 3.1% |
| 2032 Value Projection: | USD 32.8 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 487 |
| Tables, Charts & Figures: | 428 |
| Segments covered: | Material, Application, End Use, Distribution Channel, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The changing costs of raw materials, particularly steel, can have a substantial impact on the ship plate industry. Price fluctuations can drive up production costs, making it difficult for shipbuilders to budget and plan effectively. When steel prices rise unexpectedly, ship plate makers face more costs, which are often passed on to the supply chain, eventually affecting shipbuilders.
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Ship Plate Market Scope
