The global weathering steel market was valued at $1,011.0 million in 2021, and is projected to reach $2,039.1 million by 2031, registering a CAGR of 7.2% from 2022 to 2031. Weathering steel is a phrase used to describe goods manufactured from billets and blooms that are mostly utilized in the construction industry. Typically, they are produced in electric arc furnaces. Rebar, wire rod, merchant bars, rails, and sections are examples of weathering steel items.
Factor such as rapid rise in urbanization and infrastructure projects such as railways and bridges where high-strength weathering steel is required, drives the market growth. However, fluctuation in price of raw materials is expected to hamper the market growth. Furthermore, emergence in value added rebars products and increase in investments in infrastructure activities are anticipated to provide growth opportunities for the weathering steel market in coming years.
Furthermore, companies are expanding their business and are investing over infrastructural development, which is expected to drive the growth of the market during the forecast period. For instance, in March 2021, Nucor Corporation built a new tube mill in Steel Gallatin Sheet mill in Kentucky, which will allow company to take advantage of investments and to expand production capacity and add galvanizing line.
The global weathering steel market is segmented on the basis of type, product, end user, and region. On the basis of type, it is classified into Corten-A and Corten-B. By product, it is divided into sheets, plates and bars. By end user, it is segmented into construction, industrial, others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players profiled in the global weathering steel market include, Arcelor Mittal, A. Zahner Company, Baosteel, Bluescope Steel Limited, HBIS Group, Hebei Iron and Steel Group, JFE Steel Corporation, Nippon Steel Corporation, POSCO, SSAB AB, Steel Dynamics, Ternium, TimkenSteel, United States Steel Corporation, Tata Steel, Voestalpine and Wuhan Iron and Steel Group.
Factor such as rapid rise in urbanization and infrastructure projects such as railways and bridges where high-strength weathering steel is required, drives the market growth. However, fluctuation in price of raw materials is expected to hamper the market growth. Furthermore, emergence in value added rebars products and increase in investments in infrastructure activities are anticipated to provide growth opportunities for the weathering steel market in coming years.
Furthermore, companies are expanding their business and are investing over infrastructural development, which is expected to drive the growth of the market during the forecast period. For instance, in March 2021, Nucor Corporation built a new tube mill in Steel Gallatin Sheet mill in Kentucky, which will allow company to take advantage of investments and to expand production capacity and add galvanizing line.
The global weathering steel market is segmented on the basis of type, product, end user, and region. On the basis of type, it is classified into Corten-A and Corten-B. By product, it is divided into sheets, plates and bars. By end user, it is segmented into construction, industrial, others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players profiled in the global weathering steel market include, Arcelor Mittal, A. Zahner Company, Baosteel, Bluescope Steel Limited, HBIS Group, Hebei Iron and Steel Group, JFE Steel Corporation, Nippon Steel Corporation, POSCO, SSAB AB, Steel Dynamics, Ternium, TimkenSteel, United States Steel Corporation, Tata Steel, Voestalpine and Wuhan Iron and Steel Group.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the weathering steel market analysis from 2021 to 2031 to identify the prevailing weathering steel market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the weathering steel market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global weathering steel market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Corten-A
- Corten-B
By Product
- Sheets
- Plates
- Bars
By End user
- Others
- Construction
- Industrial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- United Arab Emirates
- Nigeria
- South Africa
- Rest of LAMEA
Key Market Players
- Arcelor Mittal
- United States Steel Corporation
- Nippon Steel & Sumitomo Metal Corporation
- NIPPON STEEL & SUMITOMO METAL CORPORATION
- Tata Steel
- POSCO
- SSAB AB
- JFE Steel Corporation
- Bluescope Steel Limited
- HBIS Group
- a. zahner company
- Baosteel
- Hebei Iron and Steel Group
- Steel Dynamics, Inc.
- TERNIUM S.A.
- TimkenSteel Corporation
- Voestalpine AG
- Wuhan Iron and Steel Group
Please note:
- Online Access price format is valid for 60 days access. Printing is not enabled.
- PDF Single and Enterprise price formats enable printing.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: WEATHERING STEEL MARKET, BY TYPE
CHAPTER 5: WEATHERING STEEL MARKET, BY PRODUCT
CHAPTER 6: WEATHERING STEEL MARKET, BY END USER
CHAPTER 7: WEATHERING STEEL MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Weathering Steel Market," the weathering steel market size was valued at $1 billion in 2021, and is estimated to reach $2 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031. Growth of the construction sector in the residential and commercial sectors has led to a favorable market for weathering steel goods in order to fulfil the need for housing from a fast-increasing population.Furthermore, new construction industry trends such as Lean Construction, Building Information Modeling (BIM), and Green Buildings, have expanded the importance of prefabrication and modularization in construction that helped in driving the demand for weathering steel market growth. In recent years, the steel industry as well as its linked mining and metallurgical industries have experienced significant investments and advances. According to the data published by the Department for Promotion of Industry and Internal Trade (DPIIT), Indian metallurgical industries garnered $14.24 billion in Foreign Direct Investment (FDI) from April 2000 to September 2020.
In terms of region, the weathering steel market is analyzed across North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. The building and infrastructure industries are the primary drivers of weathering steel products. The worldwide construction market is dominated by China, the U.S., and India. In South and Southeast Asia, urbanization is likewise on the rise. These and other growing economies will necessitate significant infrastructure and construction investment over the next decade, creating possibilities for mining and metal companies. For instance, in June 2021, POSCO Corporation and Rio Tinto jointly explore, develop wide range of decarbonization from iron ore mining to steel making and furthermore this manufacturing process is expected to enhance the low-carbon emission value chain.
However, during the pandemic, various manufacturers in the weathering steel market had to stop their business in countries such as China, the U.S., and India. In addition, lack of technology also constricted supply of machines of weathering steel. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of weathering steel companies.
The weathering steel market share has witnessed significant growth in the past decade, due to rise in infrastructure and construction sectors such as railways, bridges, and plants. A number of players in the weathering steel industry are expanding their business and acquiring companies to strengthen their foothold in the global market.
The key players profiled in the weathering steel market report include Arcelor Mittal, A. Zahner Company, Baosteel, Bluescope Steel Limited, HBIS Group, Hebei Iron and Steel Group, JFE Steel Corporation, Nippon Steel & Sumitomo Metal Corporation, Posco, SSAB AB, Steel Dynamics, Ternium, TimkenSteel, United States Steel Corporation, Tata Steel, Voestalpine and Wuhan Iron and Steel Group. Major companies in the market have adopted product launch, partnership, business expansion and acquisition as their key developmental strategies to offer better products and services to customers in the market.
The global weathering steel market is segmented on the basis of type, product, end user, and region. On the basis of type, it is classified into Corten-A and Corten-B. By product, it is divided into sheets, plates and bars. By end user, it is segmented into construction, industrial, others.
Region wise, the weathering steel market analysis is conducted across the North America (U.S., Canada, and Mexico), Europe (Germany, the UK, Italy, France, Spain, Russia and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Indonesia and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, United Arab Emirates, Nigeria, South Africa and Rest of LAMEA).
Key Findings of the Study
- The report provides an extensive analysis of the current and emerging global weathering steel market trends and dynamics.
- Depending on type, the Corten-A segment was the largest revenue generator in 2021.
- By product, the sheets segment generated the highest revenue in 2021.
- Based on end user, the construction segment dominated the market in 2021.
- Region wise, Europe is anticipated to dominate the global weathering steel market throughout the study period.
- The report provides an extensive analysis of the global weathering steel market overview.
- The global weathering steel market forecast analysis from 2022 to 2031 is included in the report.
Companies Mentioned
- Arcelor Mittal
- United States Steel Corporation
- Nippon Steel & Sumitomo Metal Corporation
- Nippon Steel & Sumitomo Metal Corporation
- Tata Steel
- Posco
- Ssab Ab
- Jfe Steel Corporation
- Bluescope Steel Limited
- Hbis Group
- A. Zahner Company
- Baosteel
- Hebei Iron and Steel Group
- Steel Dynamics, Inc.
- Ternium S.A.
- Timkensteel Corporation
- Voestalpine AG
- Wuhan Iron and Steel Group
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 202 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 1011 million |
| Forecasted Market Value ( USD | $ 2039.1 million |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 18 |
