Global Galvanized Steel Market to Grow by 35.18 Million Mt During 2020-2024 | Featuring ArcelorMittal SA, Baosteel Group Corp., and HBIS Group Co. Ltd. Among Others | Technavio

Technavio has announced its latest market research report titled Global Galvanized Steel Market 2020-2024 (Graphic: Business Wire).

LONDON--()--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.

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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.

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Major Three Galvanized Steel Market Vendors:

ArcelorMittal SA

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.

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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.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The galvanized steel market size has the potential to grow by 35.18 million MT during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/