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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Weathering Steel Market Outlook
The global weathering steel market is estimated to expand from USD 1.80 billion in 2023 to USD 3.07 billion by 2032, at a CAGR of 6.1% over the forecast period of 2024-2032.
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The weathering steel market has witnessed a rapid growth in the past few years as weathering steel plates not only provide the houses and structures with high strength, but also contribute to their aesthetic attraction. Weathering steel plates are also used for extending the lifetime of metal due to their high resistance properties, thus, aiding the market growth.
Market Segmentation
Weathering steel belongs to a family of low carbon steels, having additional alloying elements mixed in with the carbon and iron atoms. These additional alloying elements provide high strength and more corrosion resistance to weathering steel than typical low carbon steel grades. The global weathering steel market can be divided on the basis of segments like availability and end use of the product.
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The industry can be broadly categorised based on of its availability into unpainted and painted. The industry can be divided on the basis of its end use into:
- Building and Construction
- Transportation
- Art and Architecture
- Industrial
- Others
The EMR report looks into the regional weathering steel markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
Market Analysis
The longer shelf life with low maintenance cost of the product, growth of the infrastructure segment, and the growing use of weathering steel in sculptures are some of the major factors that are driving the growth of the weathering steel market. Fluctuation in prices of raw material, that is, steel, inferior performance in damp conditions, and the lack of awareness and knowledge about the use of weathering steel are the drawbacks of this industry which may affect its growth in the coming years.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global weathering steel market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Arcelormittal
- United States Steel Corporation (NYSE: X)
- Nippon Steel Corporation
- Tata Steel Limited
- JFE Steel Corporation
- POSCO
- SSAB AB
- BlueScope Steel Limited
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s five forces.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Availability |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global weathering steel market reached a value of USD 1.80 billion in 2023.
The market is projected to grow at a CAGR of nearly 6.1% in the forecast period of 2024-2032.
The market is estimated to reach a value of about USD 3.07 billion by 2032.
The major drivers of the market include rising disposable incomes, increasing population, longer shelf life with low maintenance cost of the product, growth of the infrastructure segment, and the growing use of weathering steel in sculptures.
The high resistance properties of the product are leading to increased demand.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
The leading availability segments in the market are unpainted and painted.
The major end use sectors of the product are building and construction, transportation, art and architecture, and industrial, among others.
The key players in the market include Arcelormittal, United States Steel Corporation (NYSE: X), Nippon Steel Corporation, Tata Steel Limited, JFE Steel Corporation, POSCO, SSAB AB, BlueScope Steel Limited, Others.
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