Hot Dip Galvanized Steel Market

This study intends to analyse diverse aspects of the global hot dip galvanized steel market. The insights offered in this report are expected to aid in market growth examination over the forecast timeline.

Report Summary

• EV and hybrid EV sales to uplift prospects for the market
• Unwavering progression of construction industry to account for buoyancy of hot dip galvanized steel market
• Pricing volatility to remain a longstanding growth challenge facing market
• Asia Pacific to emerge gainful with scaling domestic production
• AK Steel Holding Corporation, Ansteel Group, China Baowu Steel Group Corp. Ltd., Nippon Steel Corporation, and Tata Steel to highlight some of the top market players

A Spike in Automobile Sales Creates Tailwinds

There has been a steady increase in the demand for automobiles around the world owing to the surge in global population levels. Moreover, an increase in disposable incomes has allowed most individuals to be able to spend more on goods or services that were once considered a luxury. Additionally, due to higher levels of globalization, a growing number of individuals now have greater access to more products at varying price points. In recent years, mounting sales of hybrid and fully electric vehicles, as well as a continual spike in the demand for these vehicles due to environmental concerns or personal preferences, are all key factors that are expected to lead to a higher demand from the automotive sector, which is a major end user of hot dip galvanized steel. This is expected to have a profound influence on the growth of the hot dip galvanized steel market over the forecast period.

Construction Industry’s Growth Keeps Uptake of Hot Dip Galvanized Steel Afloat

The need for more infrastructure as well as the revamping or renovation of existing buildings or structures continues to be an ongoing concern for various nations around the world. Like the automotive industry, and for the same reasons, the further expansion of the construction sector is slated to have an immense impact on the global hot dip galvanized steel market. This can also be attributed to the many favorable factors that galvanized steel products offer such as resistance to corrosion, high reliability, and temperature resistance, as well as better availability. These factors are also expected to boost projected revenues for the various players engaged in the hot dip galvanized steel industry.

Price Volatility, and Availability of Equivalent Substitutes Pose an Impediment

Given the nature and availability of raw materials necessary to produce galvanized steel, there is a certain volatility in the pricing of these products. This is a major factor that could hinder further market growth for the global hot dip galvanized steel market. Moreover, the presence of various substitutes around the world is another element that may negatively affect the growth trajectory of the global hot dip galvanized steel industry.

COVID-19 Impact

The onset of the COVID-19 pandemic resulted in the imposing of restrictions by respective governments on the movement of people and goods, as well as the hampered supply of necessary raw materials, among other operational hurdles. This led to a significant decline in generated revenues for many industries and this was no different for the hot dip galvanized steel market. However, as restrictions were gradually relaxed, post the 3^rd and 4^th waves, the hot dip galvanized steel industry regressed to its pre-COVID-19 state of operations.

Asia Pacific Will Emerge Lucrative Despite North America’s Dominance

Owing to the vast number of hot dip galvanizing plants and industry players in this region, particularly in the US, North America is expected to account for the majority share of the global hot dip galvanized steel market. Moreover, in recent years, there has been a steady increase in the demand for hot dip galvanized steel products here. Nonetheless, the Asia Pacific is slated to index a substantially high CAGR over the forecast timeline. This can be chalked up to several factors such as a greater demand for products and services from the power industry, a surge in domestic production, as well as the availability of necessary raw materials needed to manufacture hot dip galvanized steel. This trend is expected to continue over this projected period.

Hot Dip Galvanized Steel Market: Competitive Landscape       

Some of the major players in the hot dip galvanized steel market include AK Steel Holding Corporation, Ansteel Group, ArcelorMittal S.A., China Baowu Steel Group Corp. Ltd., Gerdau, JFE Steel, Jiangsu Shagang Group Company Limited, Nippon Steel Corporation, POSCO, and Tata Steel, to name a few. To gain a competitive edge, various established industry players are now more focused on new product launches, partnerships, collaborations, acquisitions, and alliances.

Recent Notable Developments

• In April 2021, Nippon Steel Corporation launched ZAM-EX, a highly corrosion-resistant coated steel sheet product for global markets
  
  
• In November 2021, Wuppermann partnered with Tata Steel to expand its range of high-strength steel with great corrosion protection for chassis
  
  
• In January 2022, NLMK Group developed a new steel product with an antibacterial coating. This product is meant for application in medical and other related facilities that adhere to strict standards of cleanliness and safety

Regional Classification of Global Hot Dip Galvanized Steel Market is Listed Below:

North America

• U.S.
• Canada

Europe

• Germany
• France
• Spain
• U.K.
• Italy
• Russia
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

 Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East and Africa

• GCC
• South Africa
• Rest of Middle East and Africa

*Regions and countries are subject to change based on data availability.

Key Elements Included In The Study: Global Hot Dip Galvanized Steel Market

• Hot Dip Galvanized Steel Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value and Volume, 2019 - 2022
• Volume Consumption at Regional and Country Level, 2023 - 2030
• Market Dynamics and Economic Overview
• Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2023 - 2030
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

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