Plate manufacturers are likely to continue moving production away from the West and into developing markets, a report by Vantage Strategic Marketing (VSM) has suggested.
Conventional plates account for 87% of those used globally and in recent years the bigger players have switched production to take advantage of cheaper labour, with favourable exchange rates and government incentives.
VSM co-principal and report editor Derek Wyse said: "Rationalisation looks set to continue. Its important for the major manufacturers to get it right because if thats 87% of your market, that is where the money comes for future R&D."
However, Wyse added that distribution networks and lead times would be affected by globalisation.
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