Weathering Steel Market by Type, Form, Installation Type, Application

List of Tables

[192 Pages Report] The Weathering Steel Market size was estimated at USD 1.45 billion in 2023 and expected to reach USD 1.57 billion in 2024, at a CAGR 8.40% to reach USD 2.56 billion by 2030.

Weathering steel, often referred to by the generic trademark COR-TEN steel or Corten steel, is a group of steel alloys developed for eliminating the requirement for painting and form a stable rust-like appearance if they are exposed to the weather for several years. This weathering property is due to the steel's ability to form a protective layer of rust when exposed to atmospheric conditions. The rust layer forms a protective barrier that prevents further corrosion, distinguishing weathering steel from most other types of steel that deteriorate much faster when they rust. The increasing infrastructure investment and the continuous advancements in material technology propel the growth of the weathering steel market. However, fluctuating raw materials prices hampers their adoption. Technological advancements in the manufacturing of weathering steel and the ongoing research activities to enhance the performance of weathering steel offer lucrative opportunities to expand the weathering steel market.

KEY MARKET STATISTICS
Base Year [2023]	USD 1.45 billion
Estimated Year [2024]	USD 1.57 billion
Forecast Year [2030]	USD 2.56 billion
CAGR (%)	8.40%

Type: Rising use of Corten-A owing to the growing trend toward aesthetically pleasing, yet functional architectural designs

Corten-A steel, also known under the ASTM specification ASTM A242, is characterized by its high strength and resistance to corrosion in comparison with other steels. Its chemical composition is designed to provide a stable rust-like appearance when exposed to the weather. It protects by preventing deeper erosion and offers an aesthetically appealing, rugged appearance. Corten-A typically contains a higher percentage of Chromium, Phosphorus, and Copper, contributing to its enhanced corrosion resistance. The oxide layer on the surface of Corten-A acts as a barrier against further degradation, making it an ideal material for outdoor applications, including architectural structures, bridges, and sculptures, where durability and minimal maintenance are critical. Corten-B steel, specified under ASTM A588, shares many of the corrosion-resistant qualities of Corten-A but with slight variations in its chemical makeup that impart different mechanical properties. While both types are highly resistant to atmospheric weathering, Corten-B is especially valued for its higher tensile strength and toughness, making it suitable for heavy and load-bearing structures. A higher level of Silicon in Corten-B enhances its ability to form the protective oxide layer more efficiently and with greater durability than Corten-A. This makes Corten-B an excellent choice for more demanding structural applications, such as large-scale building projects, bridges, and other situations where higher strength and resistance to atmospheric conditions are paramount.

Application: Widening applications of weathering steel in construction industry

In the automotive industry, weathering steel is primarily utilized for its durable and corrosion-resistant properties, which make it an ideal choice for vehicle frames and parts exposed to harsh environmental conditions. This application aims to enhance the longevity and maintain the structural integrity of automotive components, contributing to the overall sustainability and cost-effectiveness of vehicle manufacturing. In the construction sector, the aesthetic appeal and structural integrity of weathering steel make it an ideal choice for architectural projects, including bridges, buildings (especially for facades), and outdoor sculptures. The ability of weathering steel to withstand harsh weather conditions while requiring minimal maintenance has made it a popular choice for constructing high-visibility projects where durability and visual impact are critical. Weathering steel is often used in infrastructure to construct bridges, overpasses, and highway guardrails. Its corrosion resistance is particularly advantageous in environments subjected to large volumes of water or in areas with high salt exposure, such as coastal regions. The material's strength and longevity contribute to reducing the lifecycle costs of infrastructure projects, making it a cost-effective solution for public works departments. Within the manufacturing sector, weathering steel finds applications in the production of containers, including shipping containers and storage tanks. These applications leverage the material's corrosion resistance to chemicals, making it suitable for transporting and storing certain substances.

The marine sector uses weathering steel sparingly, primarily due to its vulnerability to saltwater corrosion, which accelerates the material's degradation process. However, weathering steel applications are found in marine structures in less corrosive freshwater environments, such as lock gates and harbor installations. In the oil & gas industry, weathering steel is utilized in constructing storage tanks and structural components for platforms and refineries exposed to harsh environments. The resilience of weathering steel to atmospheric and chemical corrosion makes it suitable for such applications.

Regional Insights

In the Americas, particularly in the United States and Canada, the growth of the weathering steel market is driven by robust industrial growth, increasing emphasis on infrastructure development, and a rise in demand for weathering steel in bridge construction. There is also a growing trend in weathering steel for architectural applications, further fueling the market expansion. The weathering steel market in the Asia-Pacific region is growing significantly, primarily driven by rapid urbanization and industrialization, particularly in China and India. These countries invest heavily in infrastructure and construction projects, which require durable and maintenance-free materials such as weathering steel. Japan substantially contributes to the demand for weathering steel, especially in constructing unique and iconic buildings. Europe uses weathering steel, particularly for architectural and infrastructure projects, owing to the material's aesthetic appeal and longevity. The UK and Germany are significant consumers of weathering steel, and they use it in various applications, including bridges and sculptures. The Middle East and Africa are showcasing steady growth owing to increasing infrastructure projects and investments in urban development. Countries in the Gulf Cooperation Council (GCC) are particularly investing in new construction projects that utilize advanced materials such as weathering steel for longer life spans and reduced maintenance costs.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Weathering Steel Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Weathering Steel Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Weathering Steel Market, highlighting leading vendors and their innovative profiles. These include A. Zahner Company, Aakash Steel, ArcelorMittal Group, Baosteel Group, BlueScope Steel Ltd., Bunty LLC, Cascadia Metals, Champak Steel & Engg.Co., Coen Steel, Conquest Steel & Alloys, Cooper & Turner Ltd., GNEE (Tianjin) Multinational Trade Co.,Ltd, HBIS Group, JFE Steel Corporation, LIBERTY Steel Group, Masteel UK Ltd., Metal Sales Manufacturing Corporation, MTL Advanced Ltd., Nippon Steel Corporation, Posco, Pushpak Steel & Engineering Co., Shanghai Metal Corporation, SSAB AB, Steel Dynamics, Inc., Sumitomo Metal Corporation, Tata Steel Ltd., TimkenSteel Corporation, and Tubeco, Inc..

Market Segmentation & Coverage

This research report categorizes the Weathering Steel Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Corten-A
- Corten-B

Form
- Coils
- Plates
- Sheets

Installation Type
- New Construction
- Retrofit & Expansion

Application
- Automotive
- Construction
- Infrastructure
- Manufacturing
- Marine
- Oil & Gas

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Weathering Steel Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Weathering Steel Market?

3. What are the technology trends and regulatory frameworks in the Weathering Steel Market?

4. What is the market share of the leading vendors in the Weathering Steel Market?

5. Which modes and strategic moves are suitable for entering the Weathering Steel Market?

Product Code: MRR-521BAA36EC11

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growth of the residential and commercial construction industry
  - 5.1.1.2. Expanding investments in developing highways and bridges
- 5.1.2. Restraints
  - 5.1.2.1. Environmental concerns and preference for alternative materials
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements in the manufacturing and performance of weathering steel
  - 5.1.3.2. Emerging potential of recycling weathering steel products
- 5.1.4. Challenges
  - 5.1.4.1. Complexity in the quality formulation and production of weathering steel
5.2. Market Segmentation Analysis
- 5.2.1. Type: Rising use of Corten-A owing to the growing trend toward aesthetically pleasing, yet functional architectural designs
- 5.2.2. Application: Widening applications of weathering steel in construction industry
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Weathering Steel Market, by Type

6.1. Introduction
6.2. Corten-A
6.3. Corten-B

7. Weathering Steel Market, by Form

7.1. Introduction
7.2. Coils
7.3. Plates
7.4. Sheets

8. Weathering Steel Market, by Installation Type

8.1. Introduction
8.2. New Construction
8.3. Retrofit & Expansion

9. Weathering Steel Market, by Application

9.1. Introduction
9.2. Automotive
9.3. Construction
9.4. Infrastructure
9.5. Manufacturing
9.6. Marine
9.7. Oil & Gas

10. Americas Weathering Steel Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Weathering Steel Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Weathering Steel Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Nippon Steel Acquires U.S. Steel in Landmark USD 14.1 Billion Deal, Signaling New Chapter in Industrial Innovation and Market Consolidation
- 13.3.2. Cambridge Firm Secures Prestigious Contract to Craft Corten Steel Designs for Barbados National Heroes Square Monument
- 13.3.3. Eastern Steel Embarks on Expansive Hot Rolling Mill Project in Kemaman, Boosting Production Capabilities
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio