The global Weathering Steel market is forecast to reach USD 1.94 Billion by 2027, according to a new report by Reports and Data. The product has improved demand from the building & construction industry, due to superior properties, such as durability, temperature tolerance, fatigue resistance and the availability of a larger product life cycle with decreased maintenance demands. The unpredictable prices for the discovery and adoption of other material, however can inhibit the demand on the market for weathering steel by substituting a reduction in the overall operating costs.

Weathering steel is widely used in bridge construction in façades and reinforcement structures so a commodity lifespan of 120 years is feasible at low cost of maintenance. The growing population and urbanization of the world are expected to fuel demand for construction and automobiles, resulting in congested transport that is expected to boost the need for bridges and thereby promote growth for the weathering steel industry.

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Weathering steel was primarily in demand in Asia Pacific. The demand is influenced by the region’s consistent focus on economic growth and innovative methods in this area. The Asia Pacific region holds about 49% revenue share of weathering steel market, followed by Europe, which held some 26% share of the market in 2019.

Weathering Steel Market

The rising market of bridges, sculpture and rail is driving the European weathering steel industry. The weathering steel commodity is expected to replace mild steel by reducing prices and environmental emissions. Ongoing electrification programs in the region are expected to report a rise in demand for the product.

In high humidity and highly polluted zones, however, product penetration may restrict market growth over the prediction period. The processing of patina-protective oxide is disrupted by corrosive industrial or chemical fumes. Patina is a rustic protective coating that protects the surface from corrosion which induces a loss in forming of the patina to cause structural degradation. Environmental factors are also required for increasing the reception of products to play a critical role.

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Key participants include

JFE Steel Corporation
HBIS Group
Nippon Steel & Sumitomo Metal Corporation
Bluescope Steel Limited
ArcelorMittal
SSAB AB
Tata Steel Ltd.
POSCO
Henan Gang Iron and Steel Co. Ltd.
Metal Sales Manufacturing Corporation
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Weathering Steel Market: Segmentation

For the purpose of this report, Reports and Data has segmented into the global Weathering Steel market on the basis of grade, form, application, and region:

Grade Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

A242 (COR-TEN A)
A588 (COR-TEN B)
Others

Form Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

Plates
Sheets
Bars
Others

Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

Building & Construction
Transportation
Art & Architecture
Industrial
Others

Regional Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

North America
Europe
Asia Pacific
MEA
Latin America