LONDON--(BUSINESS WIRE)--Technavio estimates the global galvanized steel market to grow by 35.18 million MT, progressing at a CAGR of almost 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
The market is driven by strong economic growth in China and India. However, increasing competition from substitutes might challenge growth.
Galvanized Steel Market: Product Landscape
Based on the product, the market saw maximum growth in the sheets and strips segment in 2019. This is due to the increased demand for galvanized steel sheets and strips from construction and structural applications, marine and off-shore instruments, automotive, electrical appliances, renewable energy, thermal, hydro and atomic power stations, military, and pressure valves. The market growth in the segment will be significant over the forecast period.
Galvanized Steel Market: Geography Landscape
89% of the market’s growth originated from APAC in 2019. The increasing demand for galvanized steel from the automotive industry is one of the key factors fueling the growth of the galvanized steel market in APAC.
China, India, Japan, and South Korea (Republic of Korea) are the key markets for galvanized steel in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Develop Smart Strategies for Your Business: Get a Free Sample Report Now!
Major Three Galvanized Steel Market Vendors:
ArcelorMittal SA operates its business through segments such as Brazil, Europe, ACIS, and Mining. The company offers galvanized steel in different styles such as Premier Minimized Spangle, Premier Minimized Spangle Extra Smooth, and Premier Dual Coat among others.
Baosteel Group Corp.
Baosteel Group Corp. operates its business through the Unified segment. The company offers hot galvanized steel products include cold forming steel and structural steel.
HBIS Group Co. Ltd.
HBIS Group Co. Ltd. operates its business through segments such as Steel Material, Overseas Business, Industrial Service, and Industrial Finance. The company offers galvanized and color coated coil classified into house appliance sheet, automobile sheet, and commercial sheet among others.
Give Your Business a Head Start for 2021: Download Our Free Sample Report
Related Reports on Materials Include:
Global Steel Long Products Market – Global steel long products market is segmented by geography (APAC, Europe, North America, MEA, and South America) and type (rebars, wire rods, tubes, sections, and others). Get a free sample report to know more
Global High Strength Steel Market – Global high strength steel market is segmented by application (automotive, construction, aviation, and others) and geography (APAC, Europe, MEA, North America, and South America). Get a free sample report to know more
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
Subscribe to World-Class Market Intelligence and gain instant access to 17,000+ market research reports and connect with expert analysts
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, until 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.