PUBLISHER: The Business Research Company | PRODUCT CODE: 1657092
PUBLISHER: The Business Research Company | PRODUCT CODE: 1657092
Weathering steel refers to a group of low-carbon steels that contain additional alloying elements, along with carbon and iron, developing a protective oxide film on their surface. These steels are utilized for exposed steel structures due to their ability to outlast plain carbon steel in outdoor environments. This characteristic eliminates the need for regular repainting and recoating.
The main types of weathering steel include corten-A, corten-B, and others (such as a604, a606, and others). Corten-A is a weather-resistant steel alloyed with copper, chromium, and nickel. Corten A, with added phosphorous, is particularly suitable for gas flue applications and aesthetic facias. However, it is not recommended for heavy load-bearing applications. Weathering steel is available in various forms, including plates, sheets, bars, and others (coils, rivets, stripes, tubes, and more). These materials come in different colors, both painted and unpainted. Weathering steel finds applications in various industries, including building and construction, transportation, art and architecture, as well as industrial uses like street lights.
The weathering steel market research report is one of a series of new reports from The Business Research Company that provides weathering steel market statistics, including weathering steel industry global market size, regional shares, competitors with weathering steel market shares, detailed weathering steel market segments, market trends and opportunities, and any further data you may need to thrive in the weathering steel industry. This weathering steel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The weathering steel market size has grown strongly in recent years. It will grow from $1.38 billion in 2024 to $1.49 billion in 2025 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to growing demand for weathering steel inThe construction industry, need for durable and corrosion-resistant materials, increased adoption of weathering steel inThe transportation industry, growing awareness aboutThe benefits of weathering steel, expansion of The industrial sector.
The weathering steel market size is expected to see strong growth in the next few years. It will grow to $2.03 billion in 2029 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to urbanization and infrastructure renewal, rising awareness of sustainability, increase in outdoor structures, infrastructure resilience planning, expansion of renewable energy projects. Major trends in the forecast period include innovative architectural designs, collaboration with artists, smart coating technologies, integration with green building practices, customized weathering steel products.
The burgeoning construction and transportation sectors are playing a significant role in the expansion of the weathered steel market. Weathering steel, renowned for its enhanced corrosion resistance, extended shelf life, aesthetic appeal, high strength, and low maintenance, is increasingly utilized in various architectural and sculptural applications. The Ministry of Statistics and Programme Implementation projects a 10. 7% growth in the construction sector in FY 2022, rebounding from an 8. 6% contraction in 2021. Similarly, the global transportation industry, as indicated by Wolters Kluwer data in 2021, anticipates a growth rate of 3. 4% through 2027. The rapid growth of these industries is expected to propel the weathered steel market.
The expanding energy sector is poised to contribute to the growth of the weathered steel market in the coming years. Integral to the creation, transportation, and distribution of various energy forms, the energy sector encompasses activities related to exploration, processing, refining, generation, transportation, and utilization of energy resources. Weathering steel finds application in the production of transmission poles, lighting poles, wind turbines, solar panels, and building construction within the energy sector. With attributes such as corrosion resistance, durability, and low maintenance requirements, weathering steel is well-suited for diverse energy applications. The Energy Information Administration reported an energy output of 102. 92 quads and utilization of 100. 41 quads in 2022 in the United States. Approximately 81% of the primary energy produced in the same year came from fossil fuels. The expanding energy sector is identified as a driver for the weathered steel market.
Major companies in the weathering steel market are obtaining BIS licenses to manufacture structural weather-resistant steel, ensuring compliance with industry standards, improving product quality, and enhancing the durability and longevity of infrastructure projects subjected to harsh weather conditions. BIS (Bureau of Indian Standards) licenses are certifications granted by the Bureau of Indian Standards, which is India's national standards body. These licenses confirm that a product, process, or service meets the specific standards established by BIS regarding safety, quality, and performance. For instance, in December 2022, Tata Steel Ltd, an India-based company, obtained the Bureau of Indian Standards (BIS) license to produce Structural Weather Resistant Steel (Corten Steel) in accordance with the standards specified in IS 11587. This type of steel usually contains elements such as copper, chromium, and nickel, which improve its resistance to atmospheric corrosion. The utilization of weather-resistant steel can lead to reduced maintenance costs and an extended lifespan for structures, thereby promoting more sustainable construction practices.
Major companies in the weathering steel market are securing funding to support the steel industry's transition toward decarbonization, aimed at improving the sustainability of their operations and developing advanced materials that minimize carbon emissions while ensuring performance and durability. Boston Metal's patented MOE technology employs electricity to convert iron ore into molten steel without generating CO2 emissions. This direct, one-step process is not only environmentally friendly but also adept at processing various grades of iron ore, making it a versatile solution for steel production. For example, in January 2023, ArcelorMittal SA, a Luxembourg-based steel production corporation, received an investment of $36 million in Boston Metal, representing a significant advancement in the steel industry's transition toward decarbonization. This funding is part of a larger $120 million Series C fundraising round aimed at enhancing sustainable steel production technologies. ArcelorMittal intends to lead the decarbonization efforts within the steel industry, which accounts for approximately 7% to 9% of global CO2 emissions from fossil fuels.
In December 2023, Nippon Steel, a Japan-based steel manufacturer and one of the largest steel producers globally, acquired U.S. Steel for $14.1 billion. Through this acquisition, Nippon Steel aims to increase its production capacity in the U.S. and enhance its manufacturing capabilities to address the rising demand for high-quality steel. BlueScope Steel Limited, an Australia-based company, also offers weathering steel. U.S. Steel, a U.S.-based manufacturing firm, developed CORTEN steel, a type of weathering steel that resists corrosion by creating a protective rust layer.
Major companies operating in the weathering steel market include Arcelor Mittal SA, United States Steel Corporation, Nippon Steel & Sumitomo Metal Corporation, Tata Steel Ltd., Posco India Pvt. Ltd., SSAB AB Corporation, Japan Future Enterprise Steel Corporation, Bluescope Steel Limited, Hebei Iron & Steel Co. Ltd., A. Zahner Company, Metal Sales Manufacturing Corporation, Henan Gang Iron and Steel Co. Ltd., Masteel UK Ltd., Cascadia Metal Ltd., Triton Corp., Amardeep Steel Centre LLP, Steel Dynamics Inc., Ternium SA, TimkenSteel Corp., Voestalpine AG, Wuhan Iron and Steel Group, Baosteel Group Corporation, Taiwan Cement Corporation, Salzgitter AG, Steelscape, Tata BlueScope Steel.
Asia-Pacific was the largest region in the weathering steel market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the weathering steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the weathering steel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The weathering steel market consists of sales of STM A588, A242, A606-4, and Corten. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Weathering Steel Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on weathering steel market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for weathering steel ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The weathering steel market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.