Nov 10, 2022   SOURCE: BusinessWire

The Worldwide Weathering Steel Industry is Projected to Reach $2 Billion by 2031 - ResearchAndMarkets.com

The "Weathering Steel Market By Type, By Product, By End user: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

The global weathering steel market was valued at $1,011.0 million in 2021, and is projected to reach $2,039.1 million by 2031, registering a CAGR of 7.2% from 2022 to 2031.

Weathering steel is a phrase used to describe goods manufactured from billets and blooms that are mostly utilized in the construction industry. Typically, they are produced in electric arc furnaces. Rebar, wire rod, merchant bars, rails, and sections are examples of weathering steel items.

Factor such as rapid rise in urbanization and infrastructure projects such as railways and bridges where high-strength weathering steel is required, drives the market growth. However, fluctuation in price of raw materials is expected to hamper the market growth. Furthermore, emergence in value added rebars products and increase in investments in infrastructure activities are anticipated to provide growth opportunities for the weathering steel market in coming years.

Furthermore, companies are expanding their business and are investing over infrastructural development, which is expected to drive the growth of the market during the forecast period. For instance, in March 2021, Nucor Corporation built a new tube mill in Steel Gallatin Sheet mill in Kentucky, which will allow company to take advantage of investments and to expand production capacity and add galvanizing line.

Key Benefits

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the weathering steel market analysis from 2021 to 2031 to identify the prevailing weathering steel market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the weathering steel market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global weathering steel market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

  • Corten-A
  • Corten-B

By Product

  • Sheets
  • Plates
  • Bars

By End user

  • Others
  • Construction
  • Industrial

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Indonesia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Argentina
  • United Arab Emirates
  • Nigeria
  • South Africa
  • Rest of LAMEA

Key Market Players

  • Arcelor Mittal
  • United States Steel Corporation
  • Nippon Steel & Sumitomo Metal Corporation
  • NIPPON STEEL & SUMITOMO METAL CORPORATION
  • Tata Steel
  • POSCO
  • SSAB AB
  • JFE Steel Corporation
  • Bluescope Steel Limited
  • HBIS Group
  • a. zahner company
  • Baosteel
  • Hebei Iron and Steel Group
  • Steel Dynamics, Inc.
  • TERNIUM S.A.
  • TimkenSteel Corporation
  • Voestalpine AG
  • Wuhan Iron and Steel Group

For more information about this report visit https://www.researchandmarkets.com/r/c15anz