Weathering steel is a special type of steel that has high strength and load bearing properties. It is also referred as Cor-ten steel, a trademark name given by United States Steel. The cor-ten steel is available in two grades, namely, A242 (COR-TEN A) and A588 (COR-TEN B). The Cor-Ten denotes two main properties. i.e. corrosion resistance and tensile Strength. The chemical composition of these steel allows them to exhibit increased resistance against atmospheric corrosion as compared to other steels. Hence, the steel is majorly used in outdoor sculptures for its rustic antique appearance and in bridges and other large structural applications. It is used in roads, bridges, poles, structures, and sign poles. It has various properties which includes durability, temperature resistance, fatigue resistance, high strength, and corrosion resistance and offers greater product life cycle and low maintenance.
Request for sample here: “Weathering Steel Market”
The weathering steel also offers shallow construction depth, rapid construction, minimal maintenance, attractive appearance, and greater safety. It is also termed as atmospheric corrosion resistant steel, or low-alloy steel are steels with a carbon content of less than 0.2 wt. % and containing quantities of nickel, copper, chromium, and other alloying elements that increase corrosion resistance. These steels also provide environmental benefits, as it does not require initial painting or does not require disposal of contaminated blast debris. It is exclusively used in bridge construction and modern architecture. It offers enhanced safety by eliminating the need for a protective paint system and a long life span and reduces overall lifecycle costs.
Weathering steel is not suitable in marine environments and in humid subtropical climates as the rusted layer may continue to corrode instead of stabilizing into a protective layer. Conservative steel bridges that take benefit of the latest advances in automated fabrication and construction techniques are able to provide economic solutions to the demands of safety, quick construction, attractive form, superficial construction depth, minimal maintenance, and flexibility in future use. The “Global Weathering Steel Market” is accounted for $0.91 billion in 2018 and is expected to reach $2.29 billion by 2027 growing at a CAGR of 10.8% during the forecast period.
Surge in capital expenditure on infrastructure development due to strong economic growth and rise in population in both developing and developed countries are anticipated to propel the global weathering steel market. In the past, players across the steel industry were making huge investments in process control and optimization but were lagging behind in digital technologies implementation in comparison to other sectors such as media or banking. Players in the weathering steel market are focusing towards several organic and inorganic strategies to tap opportunities present in the weathering steel market. This is can be attributed by the recent development made by a players called Nippon Steel & Sumitomo Metal Corporation (NSSMC).
Request for customization here: “Weathering Steel Market”
Nonetheless, since the last few years, the established players in the steel sector are introducing new digital technologies and this is likely to pave a new way for the growth of weathering steel industry over the forecast period. Apparently, breakthroughs in analytics, automation, and mobile services in the weathering steel market will result in huge gains for the market over the coming years. Process digitization and AI along with prominent usage of IoT and cloud technology is likely to further add to the growth of the weathering steel industry over the forecast timeline. In addition, there is demand for weathering steel, surface treatment technologies and construction design methods that further reduce maintenance costs and allow for the actual use with certainty for ultra-long periods of time in structures of the future particularly with bridges.
For more information fill in the Inquiry form at: “Weathering Steel Market”
Weathering steel market in Asia-Pacific region is expected to have considerable growth during the forecast period, due to increase investments in infrastructure development such as road & rail networks and bridges primarily in developed and developing economies such as Japan, South Korea, India, and China, rapid consumption of weathering steel in various end user industries, government initiatives, and rising demand for steels with a longer shelf life & low maintenance and rapid industrialization. Moreover, increase in government spending for public transport and diversification in the region’s construction sector are expected to enhance the market in future. The strong economic growth in countries, such as China, Korea, Thailand, Japan, and India, are expected to enhance the global weathering steel market during the forecast. According to the Asian Development Bank, the region needs USD 26 trillion in infrastructure investment by 2030. China’s Belt and Road Initiative (BRI) to improve the road connectivity across six main corridors is considered as the key variable for the growth of the regional infrastructural development. The corridors include the New Eurasian Land Bridge, the China-Indochina Peninsula Corridor, the Bangladesh-China-India-Myanmar Corridor, the China-Central Asia-West Asia Corridor, the China-Mongolia-Russia Corridor, and the China-Pakistan Corridor. This is likely to augment the market growth in the forthcoming years.