What Transformation Has the Weathering Steel Market Undergone?
The weathering steel market has seen considerable growth due to a variety of factors.
• The market size of weathering steel has experienced significant growth in the past few years. From 2024 to 2025, the market is anticipated to rise from $1.38 billion to $1.49 billion with a compound annual growth rate (CAGR) of 8.5%.
The historical growth has been driven by factors such as increasing demand for weathering steel in the construction sector, the requirement for resilient and anti-corrosion materials and greater acceptance of weathering steel in the transportation industry. Furthermore, heightened awareness of the advantages of weathering steel and the growth of the industrial sector have also contributed to this increase.
How Will The Weathering Steel Market Size Evolve In The Foreseeable Future?
The weathering steel market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, a robust expansion is anticipated in the weathering steel market. The market is projected to surge to $2.03 billion by 2029, escalating at a compound annual growth rate (CAGR) of 8.0%.
This growth throughout the forecast period is anticipated to be driven by factors such as urbanization and infrastructure renovation, heightened sustainability awareness, a rise in outdoor structures, planning for infrastructure resilience, and the unfolding of renewable energy projects. The forecast period is also set to usher in major trends like innovative architectural designs, collaborations with artists, advancements in smart coating technologies, the inclusion of green building practices, and bespoke weathering steel products.
What Are The Essential Drivers Behind The Growth Of The Weathering Steel Market?
The expansion of the construction and transportation sectors is fueling the development of the weathered steel market. Its impressive features, including enhanced corrosion resistance, extended durability, aesthetic allure, high rigidity, and minimal upkeep make weathered steel ideal for various architectural and sculptural applications. For instance, the Ministry of Statistics and Programme Implementation predicts that the construction industry will bounce back with a 10.7% growth in FY 2022, from a slump of 8.6% in 2021, due to a base effect and an anticipated 9.2% expansion. Similarly, data from Wolters Kluwer 2021 indicates that the international transportation sector is set to expand at a pace of 3.4% up to 2027. Consequently, the swift growth of the construction and transportation sectors is set to propel the growth of the weathered steel market.
How Is The Global Weathering Steel Market Divided Into Key Segments?
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
Subsegments:
1) By Corten-A: Structural Steel Applications, Architectural Uses
2) By Corten-B: Heavy Machinery Components, Bridge Construction
3) By Other Types: Custom Weathering Steel Alloys, Specialty Weathering Steel Products
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What Trends Are Reshaping The Future Of The Drivers Market?
Key players in the weathering steel market are obtaining BIS licenses to manufacture weather-resistant structural steel that complies with industry norms, guarantees product superiority, and improves the robustness and life expectancy of infrastructure projects subjected to severe weather events. BIS (Bureau of Indian Standards) licenses are accreditation granted by the national standards agency of India, the Bureau of Indian Standards. These accreditations confirm a product, process, or service's adherence to the specific criteria laid down by the BIS for safety, quality, and efficiency. For instance, in December 2022, Tata Steel Ltd, a company based in India, was granted a Bureau of Indian Standards (BIS) license to make Structural Weather Resistant Steel (Corten Steel) in accordance with the norms specified in IS 11587. This form of steel often contains elements such as copper, chromium, and nickel, which bolster its resistance to atmospheric corrosion. The application of weather-resistant steel can minimize upkeep expenses and extend the lifetime of structures, thereby furthering more sustainable building practices.
Who Are the Key Players in the Weathering Steel Market?
Major companies operating in the weathering steel market include:
• 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
• Taiwan Cement Corporation
• Salzgitter AG
• Steelscape
• Tata BlueScope Steel.
What are the Regional Insights into the Weathering Steel Market?
Asia-Pacific was the largest region in the weathering steel market in 2024.North America is expected to be the fastest-growing region in the forecast period. The regions covered in the weathering steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
