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.