The hot-dip galvanized steel global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Hot-dip Galvanized Steel Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The hot-dip galvanized steel market size has grown strongly in recent years. It will grow from $45.52 billion in 2023 to $48.57 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to growing infrastructure projects, agricultural sector expansion, stricter regulations and standards, innovations in galvanizing technology, growing environmental awareness.
The hot-dip galvanized steel market size is expected to see strong growth in the next few years. It will grow to $63.31 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to development of new residential and commercial buildings, advancements in manufacturing technology, the growth in renewable energy projects, increased focus on sustainability, global economic growth. Major trends in the forecast period include increased use in green building projects, integration with smart technologies, growing preference for low-maintenance and long-lasting materials, development of high-performance alloys, rise of modular and prefabricated construction.
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Scope Of Hot-dip Galvanized Steel Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Hot-dip Galvanized Steel Market Overview
Market Drivers –
The growth of the construction industry is expected to propel the growth of the hot-dip galvanized steel market going forward. The construction industry encompasses the planning, design, building, and maintenance of structures and infrastructure, including residential, commercial, and public works projects. The growth of the construction industry is driven by increasing urbanization, infrastructure development, and rising demand for residential and commercial buildings. Hot-dip galvanized steel is used in the construction industry for its durability, corrosion resistance, and long-term structural integrity in building frameworks, roofing, and infrastructure projects. For instance, in November 2023, according to the Office for National Statistics, a UK-based government department, construction new orders increased from $93,941 million (£72,578 million) in 2021 to $104,631 million (£80,837 million) in 2022, representing an approximate increase of 11.4%. Therefore, the growth of the construction industry is driving the growth of the hot-dip galvanized steel market.
Market Trends –
Major companies operating in the hot-dip galvanized steel market are focused on developing innovative products, such as color-coated steel, to enhance the aesthetic appeal and corrosion resistance. . Color-coated steel refers to steel sheets that have been coated with a layer of paint or polymer for aesthetic and protective purposes. This process enhances the steel’s durability, resistance to corrosion, and overall appearance, making it suitable for various applications in construction and manufacturing. For instance, in August 2024, ArcelorMittal Nippon Steel India, an India-based integrated flat carbon steel manufacturer, launched Optigal, a premium color-coated steel brand featuring an innovative Zinc-Aluminium-Magnesium (ZAM) metallic coating. Optigal is associated with hot-dip galvanized steel and is manufactured by hot-dip coating steel strips in a bath containing a Zinc-Aluminium-Magnesium (ZAM) alloy. This process improves the corrosion resistance and durability of the steel, making it ideal for a range of applications in construction and architecture.
The hot-dip galvanized steel market covered in this report is segmented –
1) By Type: Sheet And Strip, Structure, Pipe And Tube, Wire And Hardware
2) By End Product: Fasteners, Steel Main Frames, Cable Support System, Hand Rails, Safety Barriers, Other End Products
3) By Application: Construction, Home Appliance, Automotive, General Industrial
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Regional Insights –
North America was the largest region in the hot-dip galvanized steel market in 2023. The regions covered in the hot-dip galvanized steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the hot-dip galvanized steel market are ArcelorMittal SA, Posco Co. Ltd., Nippon Steel Corporation, ThyssenKrupp AG, Nucor Corporation, JFE Steel Corporation, Steel Dynamics Inc., JSW Steel Limited, Ternium S.A, NLMK Group, Salzgitter AG, Tenaris SA, Commercial Metals Company (CMC), Liberty Steel Group, BlueScope Steel Limited, Shandong Baowu Steel Group Co Ltd., Ruukki Construction, Zekelman Industries, CSC Steel Holdings Berhad, Tata Steel Processing & Distribution Ltd., voestalpine Metsec plc., Outokumpu Oyj (Outokumpu) , Rizhao Steel Holding Group, Benxi Iron & Steel (Group) Co Ltd., Youfa Steel Pipe Group
Table of Contents
1. Executive Summary
2. Hot-dip Galvanized Steel Market Report Structure
3. Hot-dip Galvanized Steel Market Trends And Strategies
4. Hot-dip Galvanized Steel Market – Macro Economic Scenario
5. Hot-dip Galvanized Steel Market Size And Growth
…..
27. Hot-dip Galvanized Steel Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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