Wear Resistant Steel Market Size to Reach USD 47.0 Billion by 2035; High Growth in Real Estate Industry to Augment Market Expansion

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Published Date: February 2025

Wear resistant steel generally has a higher carbon content and also contains manganese, chromium, nickel, vanadium, and boron. These alloying elements increase the hardness and the ductility. These elements also have a positive effect on corrosion resistance, to a limited degree. There is a rapid growth in real estate, mining, and automobile industries which in turn creates a demand for wear resistant steel resulting in wear resistant steel market expansion.

Wear Resistant Steel Market Segmentation Analysis:

By Product	High Manganese Steel, Middle and Low Alloy Wear Resistant Steel, Erosion Corrosion Resistant Steel, Special Wear Resistant Steel, and Others
By Type	Under HBW 400, 400 HB, 450 HB, 500 HB, and Above HBW 500
By Thickness	3/16 Inch, 1/4 Inch, 5/16 Inch, 3/8 Inch, and 1/2 Inch
By End-User	Mining and Quarrying, Construction and Infrastructure, Oil and Gas, Power Generation, and Others

Wear Resistant Steel Market Report Highlights:

Wear resistant steel market size is projected to grow at USD 47.0 Billion in 2035.
The target market size was valued at USD 32.1 Billion in 2024.
The market is growing at a CAGR of 4.3%.
North America holds the biggest wear resistant steel market share.
Asia Pacific is expected to be the fastest growing region in the market during the projected period.
By product, the market is led by the special wear resistant steel segment.
Under type segmentation, the HB 450 segment is expected to hold lion’s share of the market during 2025-2035.
On the basis of thickness, the market is dominated by the 3/16 inch segment due to its versatility and cost-effectiveness.
Based on end-user, the quarrying and mining segment is expected to lead the market.

Wear Resistant Steel Market Dynamics:

Growth Factor	Challenge Factor	Market Trend
Long Service Life	Material Fatigue	High Use to Reduce Harmful Emissions

Wear Resistant Steel Market Key Highlights:

In January 2025, Union Minister of Steel and Heavy Industries in the presence of senior officials from the ministry and captains from the industry at Vigyan Bhavan, New Delhi, launched the second round of PLI scheme for Specialty Steel, such as Wear Resistant Steel, Plated Steel Products, Specialty Rails, Alloy Steel Products and Steel Wires and Electrical Steel, termed as PLI Scheme 1.1. PLI scheme 1.1 is a specialty Steel for five product categories which is the same as the existing PLI Scheme to enable further participation as industry participants requested the ministry for relaxation.

Wear Resistant Steel Market News Forecast 2025-2035

Wear Resistant Steel Market Report Analysis:

Quenching Parameters of Wear-Resistant Steel Plates:

Thickness (mm)	12	20	25	30	50	60
Water consumption (L)	5320	8866	11,083	13,299	22,166	26,969
Spray time (s)	64	106	132	160	266	320

Browse ∼40 market data tables and ∼42 figures through ∼182 slides and in-depth TOC on “Wear Resistant Steel Market Size, Share, By Product (High Manganese Steel, Middle and Low Alloy Wear Resistant Steel, Erosion Corrosion Resistant Steel, Special Wear Resistant Steel, and Others), Type (Under HBW 400, 400 HB, 450 HB, 500 HB, and Above HBW 500), Thickness (3/16 Inch, 1/4 Inch, 5/16 Inch, 3/8 Inch, and 1/2 Inch), End-User (Mining and Quarrying, Construction and Infrastructure, Oil and Gas, Power Generation, and Others), and Region - Trends, Analysis, and Forecast till 2035”

For more insights into the Wear Resistant Steel Market and its future trends, visit the link: https://www.prophecymarketinsights.com/market_insight/Global-Wear-Resistant-Steel-Market-762

Wear Resistant Steel Market Competitive Landscape:

The leading players operating in the wear resistant steel market are SSAB, Tricon Inc., ArcelorMittal, Thyssenkrupp AG., Titus Industries Inc., ESTI, Nucor Corp., Ambo Stahl, Baoshan Iron & Steel Co., Ltd., CeraMetal se S.A, CONQUEST STEEL AND ALLOYS, Sambhav Pipes & Fittings, and PRODUR.