Global Weathering Steel Market To Grow With A CAGR Of 7.6% And Surpass USD 2370.73 Million by 2032
As per a research report by Zion Market Research,global Weathering Steel Market, estimating its value at USD 1226.23 Million in 2023, with projections indicating that it will reach USD 2370.73 Million by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 7.6% over the forecast period 2024–2032. Increased corrosion resistant and excellent high strength over entire life-cycle make it a perfect option for application in construction of bridge. In addition to this, the astonishing appeal of weathering steel is leading designers and architectures increasingly to use the material in architectural and outdoor construction.
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Players such as United States Steel Corporation, Arcelor Mittal, Tata Steel, Nippon Steel & Sumitomo Metal Corporation, SSAB AB, Posco, Bluescope Steel Limited, JFE Steel Corporation, A. Zahner Company, and HBIS Group amongst others are the pair companies in the weathering steel market.
Corten-B Is Predicted To Top The Weathering Steel Market In The Years To Come
Weathering steel is majorly used in building & construction sector, particularly in construction of bridge. Employment of weathering steel as a substance for the bridge construction has elevated in the past decade. This trend is owing to the improved corrosion resistant, low maintenance related to the employment of weathering steel, and elevated shelf life of the structure. Corten-B type is the favored type for employment in the structural application due to high toughness and superior strength.
Plates Are Predicted To Lead The Global Market In The Near Period
Plates are the most widely used and dominant kind of weathering steel. These plates not only offer high strength to the structures and buildings but also contribute to their visual appeal. Weathering plates are also used in sulfur-rich and high temperature environments to increase the metal’s lifetime. Heavy-duty transport is one more primary major application of such plate. Railway rolling stock and shipping containers are subject to severe conditions of altering climates. This makes weathering steel a perfect option as it needs altering climate conditions to start the process of oxidation and offers a tough layer of defensive rust.
North America To Stay One Of The Biggest Weathering Steel Markets In The Foreseeable Future
North America has maintained its top position in the weathering steel market since 2018 and is anticipated to develop at an elevated rate in the coming period. This is due to the rising requirement of weathering steel from Canada, the U.S., and Mexico. High requirement from end-use sectors such as medical & dental, aerospace & defense, electronics, automotive, and others are flourishing the development of weathering steel markets in these nations.
This review is based on a report by Zion Market Research, titled “Weathering Steel Market — By Form (Plates, Bars, and Sheets), By Type (Corten-A and Corten-B), By End-Use Industry (Transportation, Art & Architecture, Building & Construction, and Industrial), By Availability (Unpainted and Painted), and By Region — Global Industry Perspective, Comprehensive Analysis, and Forecast, 2023–2032” report at https://www.zionmarketresearch.com/report/weathering-steel-market
The global weathering steel market is segmented as follows:
By type
- Corten-A
- Corten-B
- Others (A604, A606, etc.)
By form
- Plates
- Sheets
- Bars
- Others (Coils, rivets, stripes, tubes, etc.)
By availability
- Painted
- Unpainted
By end-use industry
- Building & Construction
- Transportation
- Art & Architecture
- Industrial
- Others (Decorative pieces and street lights)
By Region
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East and Africa
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