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Weathering Steel Market Share, Opportunities Analysis, Recent Trends, Regional Growth And Outlook By 2033
Weathering Steel Market Trends
As per the report, the weathering steel market size has grown strongly in recent years. It will grow from $1.28 billion in 2023 to $1.39 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The weathering steel market size is expected to see strong growth in the next few years. It will grow to $1.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.
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Construction And Transportation Industries Fueling The Expansion Of The Weathered Steel Market
The rapidly growing construction and transportation industries are contributing to the growth of the weathered steel market. Weathering steel is being used in several architectural and sculpture applications owing to its key material features such as improved corrosion resistance, longer shelf life, good aesthetic appeal, high strength, and low maintenance. For instance, according to the Ministry of Statistics and Programme Implementation, the construction sector will grow at 10.7% in FY 2022, a rebound from a contraction of 8.6% in 2021, aided by the base effect and a projected 9.2% growth. Similarly, according to Wolters Kluwer data 2021, the global transportation industry is expected to grow at a rate of 3.4% through 2027. Thus, the rapidly growing construction and transportation industries will drive the growth of the weathered steel market.
Technological Advancement Is Gaining Popularity
Technological advancement is a key trend gaining popularity in the weathered steel market. ArcelorMittal Europe Long Products, for example, launched RailCor in 2021, a new range of corrosion-resistant rails for protecting against severe corrosion environments, whether the rails are installed inside tunnels, city centers, or coastal areas, for example, to face demanding corrosion challenges, fight specific corrosion, or even protect the rails during shipment. RailCor was developed by ArcelorMittal Global R&D and has been tested in accelerated corrosion tests using a variety of systems. Under the most severe conditions, the selected solutions were tested for more than 2 years on real tracks.
The weathering steel market covered in this report is segmented -
1) By Type: Corten-A, Corten-B, Other Types
2) By Form: Plates, Sheets, Bars, Other Forms
3) By Availability: Painted, Unpainted
4) By End Use: Building and Construction, Transportation, Art and Architecture, Industrial, Other End Use
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Major companies operating in the weathering steel market report are Arcelor Mittal SA, United States Steel Corporation, Nippon Steel & Sumitomo Metal Corporation, Tata Steel Ltd., Posco India Pvt. Ltd., SSAB AB Corporation, Japan Future Enterprise Steel Corporation, Bluescope Steel Limited, Hebei Iron & Steel Co. Ltd., A. Zahner Company, Metal Sales Manufacturing Corporation, Henan Gang Iron and Steel Co. Ltd., Masteel UK Ltd., Cascadia Metal Ltd., Triton Corp., Amardeep Steel Centre LLP, Steel Dynamics Inc., Ternium SA, TimkenSteel Corp., Voestalpine AG, Wuhan Iron and Steel Group, Baosteel Group Corporation, AK Steel Corporation, Anhui Conch Cement Co. Ltd., LafargeHolcim Ltd., Taiwan Cement Corporation, Salzgitter AG, Steelscape, Tata BlueScope Steel.
Contents of the report:
1. Executive Summary
2. Weathering Steel Market Report Structure
3. Weathering Steel Market Trends And Strategies
4. Weathering Steel Market - Macro Economic Scenario
5. Weathering Steel Market Size And Growth
…..
27. Weathering Steel Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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