Hot-Dip Galvanized Steel Market to Expand With 6.6% CAGR Through 2024

SELBYVILLE, Del., November 21, 2019 (Newswire.com) - According to the recent study available from Market Study Report LLC under the title ‘Global Hot-dip Galvanized Steel Market Growth 2019-2024’, the global hot-dip galvanized steel market is anticipated to grow with a CAGR of 6.6% during the period of 2019-2024.

Hot-dip galvanization is a type of galvanization in which base metal is immersed in the bath of molten zinc in order to deposit a protective layer of zinc to prevent it from rusting. The top layer of pure zinc comes in contact with the atmosphere and combines with oxygen and carbon to form zinc carbonate, thereby protecting the metal underneath from corrosion.

The ability to provide a longer lifespan, increased strength, and durability at low cost is the main factor boosting the growth of hot-dip galvanized steel market. Rapid industrialization, growing economy across the globe, numerous construction projects, and usage in various applications will further augment the market growth.

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The study cites that the hot-dip galvanized steel market is expected to accumulate US $101.6 billion by the year 2024. It also encompasses information about the revenue shares and consumption patterns for each segment. An analysis focused at competitive landscape of the market, alongside potential entrants and expansion strategies followed by manufacturers are also mentioned in the report.

Based on product type, the hot-dip galvanized steel market is categorized as wire & hardware, sheet & strip, pipe & tube, and structure. While speaking of application spectrum, the industry is segmented as general industrial, construction, automotive, and home appliance.

Considering the geographies, the global hot-dip galvanized steel market is examined for regions including Americas, Middle East & Africa, Asia Pacific, and Europe. As per the report, China dominated the market with a consumption share of 43% in 2017, while Europe held 24% consumption share in the same year.

Major companies operating in hot-dip galvanized steel market are Steel Dynamics, Baowu Group, POSCO, Thyssenkrupp, ArcelorMittal, Hesteel Group, Nippon Steel & Sumitomo Metal, Shougang, JFE Steel Corporation, Ansteel Group, China Steel Corporation, Tata Steel, and Hyundai Steel among others. 

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Scope of This Report:

This study considers the Hot-dip Galvanized Steel value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.

·         Sheet & Strip

·         Structure

·         Pipe & Tube

·         Wire & Hardware

Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.

·         Construction

·         Home Appliance

·         Automotive

·         General Industrial

This report also splits the market by region: Breakdown data in Chapters 4, 5, 6, 7 and 8.

    Americas

·         United States

·         Canada

·         Mexico

·         Brazil

    APAC

·         China

·         Japan

·         Korea

·         Southeast Asia

·         India

·         Australia

    Europe

·         Germany

·         France

·         UK

·         Italy

·         Russia

·         Spain

    Middle East & Africa

·         Egypt

·         South Africa

·         Israel

·         Turkey

·         GCC Countries

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in Chapter 3.

·         Baowu Group

·         ThyssenKrupp

·         Steel Dynamics

·         POSCO

·         ArcelorMittal

·         Nippon Steel & Sumitomo Metal

·         Hesteel Group

·         Hyundai Steel

·         JFE Steel Corporation

·         Shougang

·         Ansteel Group

·         Gerdau

·         Maanshan Steel

·         United States Steel Corporation

·         Youfa Steel Pipe Group

·         Benxi Steel Group

·         China Steel Corporation

·         JSW Steel Ltd

·         Tata Steel

·         NLMK Group

·         Valin Steel Group

·         Shagang Group

Question & Answer: Hot-dip Galvanized Steel Market

Question 1: Why is the hot-dip galvanized steel market witnessing constant growth?

Answer: The ability to provide a longer lifespan, increased strength, and durability at low cost is the main factor boosting the growth of the hot-dip galvanized steel market. Rapid industrialization, a growing economy across the globe, numerous construction projects, and usage in various applications will further augment the market growth.

Question 2: What growth trends will the hot-dip galvanized steel market display in the upcoming years?

Answer: The global hot-dip galvanized steel market is anticipated to grow with a CAGR of 6.6% during the period of 2019-2024 and will be worth US $101600 million.

Question 3: Which region dominated the global hot-dip galvanized steel market in 2017?

Answer: China dominated the global hot-dip galvanized steel market with a consumption share of 43% in 2017.

Question 4: How is the competitive landscape of the hot-dip galvanized steel market defined?

Answer: Major companies operating in the hot-dip galvanized steel market are Steel Dynamics, Baowu Group, POSCO, Thyssenkrupp, ArcelorMittal, Hesteel Group, Nippon Steel & Sumitomo Metal, Shougang, JFE Steel Corporation, Ansteel Group, China Steel Corporation, Tata Steel, and Hyundai Steel among others. 

Related Report:

Structural Steel Market Research Report 2024

Structural Steel Market size should exceed USD 420 billion by 2024; according to a new research report.

Increasing industrial spaces demand involving design and construction along with growing preferability for sectional structures from fabricators, engineers, architects, contractors and designers are major factors which is likely to stimulate structural steel market size by 2024.

A growing number of residential & non-residential buildings along with a rising number of manufacturing facilities globally is likely to drive the structural steel market's size. Iron and carbon are the main constituents used in the manufacturing of structural steels. These products are extensively used for the construction of transmission line towers, buildings, and manufacturing sheds. They are manufactured in numerous shapes and sizes including, angle (L-shape), I-beam, hollow structural section (HSS), T-shaped shape and Z-shape.

China structural steel market size from I shaped heavy sections is projected to surpass USD 710 million by 2024.

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