Research Nester released a report titled “Weathering Steel Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global weathering steel market in terms of market segmentation by type, form, availability, application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Weathering steel is an alloy steel metal containing copper as an alloying element. Owing to its large-scale applications in architecture, construction & transportation industry, the weathering steel market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. The market is segmented by application into building and construction, transportation, industrial, architecture and others, out of which, the segment for building and construction is predicted to hold the leading share in the market on account of growing investments in construction development coupled with the favourable mechanical properties such as high strength, load-bearing and good aesthetic appeal to facilitate building activities.
Based on the regional analysis, the weathering steel market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market for weathering steel in North America is predicted to hold the highest share in the market on account of huge requirement of weathering steel as a raw material along with the government support to facilitate production of weathering steel, as well as for the presence of leading market players.
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Increasing Construction and Transportation Infrastructure to Boost the Market Growth
In the statistics by ARTBA or the American Road and Transportation Builders Association, in the year 2020, the U.S. transportation infrastructure market is expected to grow at least 5 percent.
There is a growing demand for weathering steel to enhance the building activities of construction and transportation industries. Additionally, weathering steel is used widely in several architectural and sculpture applications owing to its key material features such as improved corrosion resistant, longer shelf life, good aesthetic appeal, high strength and low maintenance. The growing use of this steel is anticipated to increase the growth of weathering steel market over the forecast period.
However, impact of extreme environmental conditions on weathering steel is estimated to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global weathering steel market which includes company profiling of United States Steel Corporation (NYSE:X), A. Zahner Company, Nippon Steel Corporation (TSE:5401), ArcelorMittal Group (AMS: MT), Tata Steel Ltd. (NSE:TATASTEEL), SSAB AB (STO: SSAB-A), JFE Steel Corporation (TSE:5411), HBIS Group and BlueScope Steel Ltd. (ASX:BSL).
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global weathering steel market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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