Galvanized Steel Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Galvanized Steel Market
The galavanized steel market size was valued at USD 98.80 billion in 2023, and the market is now projected to grow from USD 104.28 billion in 2024 to USD 166.09 billion by 2032, exhibiting a CAGR of 5.9% during the forecast period of 2024-2032.
A vast number of industries took a drastic forceful hit during the Covid period. But the graphene market certainly did not take any damage and proliferated with its sales soaring above the skies. Defense against COVID-19 has involved the development and application of steel industries and construction works and industrial activities post Covid. These factors affected the galavanized steel market growth.
The growing demand from a variety of industries such as including construction, automotive, and mainly electrical, has been driving the market's expansion and it is also expected that this particular market will grow more in the forecast period. Owing to its exceptional strength and longevity, the product finds extensive use in the construction industry and is well-suited for a range of applications, including structural elements, fencing, and roofing. These particular growth driving factors have been recorded to attribute the galavanized steel market share.
In recent time duration, there has been witnessed a tremendous increase in the need for electro-galvanizing steel in electrical applications which has in terms promoted this particular product market growth with generating substantially stable revenue per anum. This is because electro-galvanizing gives the steel a consistent, thin layer of zinc coating that increases both its conductivity and resistance to corrosion.
Comprehensive Analysis of Galvanized Steel Market
The market is divided into two types which are the electrical galvanized steel and hot-dip galvanized steel. The market is divided into various application segments, such as household appliances, automobile, and construction. The market share held by hot-dip galvanized steel was larger. Galvanized steel's dominant market share was held by the construction sector segment.
Asia Pacific is expected to be the leading region of this particular product market and is anticipated to to grow over the forecasted period and also will continue to hold the largest market share. The factors helping this region in expanding the business is the existence of significant manufacturers, increased production in all the industries.
Moderate market fragmentation exists. In addition to spending money on R&D to manufacture items, these businesses have large production capacities. Nippon Steel Corporation (Japan), ThyssenKrupp AG (Germany), Steel Dynamics Inc. (United States), ArcelorMittal S.A. (Luxembourg), and POSCO HOLDINGS INC. (South Korea) are a few of the leading industry participants.
In December 2023, In an all-cash deal, the business will pay USD 55.00 per share to purchase U. S. Steel. A closing for this deal is anticipated in 2024's second or third quarter. The acquisition of U. S. Steel Corporation was agreed upon by Nippon Steel.
Segmentation Table
Attribute Details
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 5.9% from 2024 to 2032
Unit Value (USD Billion), Volume (Kiloton)
Segmentation By Type
Hot-dip Galvanized Steel
Electrical Galvanized Steel
By Application
Construction Industry
Automotive Industry
Home Appliances
Others
By Geography
North America (By Type, Application, and Country)
- U.S.
- Canada
Europe (By Type, Application, and Country)
- Germany
- U.K.
- Italy
- France
- Russia
- Rest of Europe
Asia Pacific (By Type, Application, and Country)
- China
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Rest of Asia Pacific
Latin America (By Type, Application, and Country)
- Brazil
- Mexico
- Colombia
- Argentina
- Rest of Latin America
Middle East & Africa (By Type, Application, and Country)
- Turkey
- Saudi Arabia
- UAE
- Rest of the Middle East & Africa
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Regions
- 4.2. Key Developments: Capacity Expansions, Acquisitions, Partnerships, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porters Five Forces Analysis
- 5. Qualitative Insights on Impact of COVID-19 on Global Galvanized Steel Market
- 5.1. Supply Chain Analysis & Challenges due to Covid-19
- 5.2. Steps taken by Government / Companies to Overcome this Impact
- 5.3. Potential Challenges and Opportunities due to COVID-19 Outbreak
- 6. Global Galvanized Steel Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. By Type (Value and Volume)
- 6.2.1. Hot-dip Galvanized Steel
- 6.2.2. Electrical Galvanized Steel
- 6.3. By Application (Value and Volume)
- 6.3.1. Construction Industry
- 6.3.2. Automotive Industry
- 6.3.3. Home Appliance
- 6.3.4. Others
- 6.4. By Region (Value and Volume)
- 6.4.1. North America
- 6.4.2. Europe
- 6.4.3. Asia Pacific
- 6.4.4. Latin America
- 6.4.5. Middle East & Africa
- 7. North America Galvanized Steel Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. By Type (Value and Volume)
- 7.2.1. Hot-dip Galvanized Steel
- 7.2.2. Electrical Galvanized Steel
- 7.3. By Application (Value and Volume)
- 7.3.1. Construction Industry
- 7.3.2. Automotive Industry
- 7.3.3. Home Appliance
- 7.3.4. Others
- 7.4. By Country (Value and Volume)
- 7.4.1. U.S
- 7.4.2. Canada
- 8. Europe Galvanized Steel Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. By Type (Value and Volume)
- 8.2.1. Hot-dip Galvanized Steel
- 8.2.2. Electrical Galvanized Steel
- 8.3. By Application (Value and Volume)
- 8.3.1. Construction Industry
- 8.3.2. Automotive Industry
- 8.3.3. Home Appliance
- 8.3.4. Others
- 8.4. By Country (Value and Volume)
- 8.4.1. Germany
- 8.4.2. U.K.
- 8.4.3. Italy
- 8.4.4. France
- 8.4.5. Russia
- 8.4.6. Rest of Europe
- 9. Asia-Pacific Galvanized Steel Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. By Type (Value and Volume)
- 9.2.1. Hot-dip Galvanized Steel
- 9.2.2. Electrical Galvanized Steel
- 9.3. By Application (Value and Volume)
- 9.3.1. Construction Industry
- 9.3.2. Automotive Industry
- 9.3.3. Home Appliance
- 9.3.4. Others
- 9.4. By Country (Value and Volume)
- 9.4.1. China
- 9.4.2. India
- 9.4.3. Australia
- 9.4.4. Indonesia
- 9.4.5. Thailand
- 9.4.6. Malaysia
- 9.4.7. Philippines
- 9.4.8. Vietnam
- 9.4.9. Rest of Asia Pacific
- 10. Latin America Galvanized Steel Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. By Type (Value and Volume)
- 10.2.1. Hot-dip Galvanized Steel
- 10.2.2. Electrical Galvanized Steel
- 10.3. By Application (Value and Volume)
- 10.3.1. Construction Industry
- 10.3.2. Automotive Industry
- 10.3.3. Home Appliance
- 10.3.4. Others
- 10.4. By Country (Value and Volume)
- 10.4.1. Brazil
- 10.4.2. Mexico
- 10.4.3. Colombia
- 10.4.4. Argentina
- 10.4.5. Rest of Latin America
- 11. Middle East & Africa Galvanized Steel Market Analysis, Insights and Forecast, 2019-2032
- 11.1. Key Findings / Summary
- 11.2. By Type (Value and Volume)
- 11.2.1. Hot-dip Galvanized Steel
- 11.2.2. Electrical Galvanized Steel
- 11.3. By Application (Value and Volume)
- 11.3.1. Construction Industry
- 11.3.2. Automotive Industry
- 11.3.3. Home Appliance
- 11.3.4. Others
- 11.4. By Country (Value and Volume)
- 11.4.1. Turkey
- 11.4.2. Saudi Arabia
- 11.4.3. UAE
- 11.4.4. Rest of Middle East & Africa
- 12. Competitive Landscape
- 12.1. Company Profiles
- 12.1.1. ArcelorMittal S.A.
- 12.1.1.1. Overview
- 12.1.1.2. Description
- 12.1.1.3. Product Portfolio
- 12.1.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.1.5. Recent Developments
- 12.1.2. Arcelor Mittal S.A.
- 12.1.2.1. Overview
- 12.1.2.2. Description
- 12.1.2.3. Product Portfolio
- 12.1.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.2.5. Recent Developments
- 12.1.3. Shandong Baowu Steel Group Co., Ltd.
- 12.1.3.1. Overview
- 12.1.3.2. Description
- 12.1.3.3. Product Portfolio
- 12.1.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.3.5. Recent Developments
- 12.1.4. ThyssenKrupp
- 12.1.4.1. Overview
- 12.1.4.2. Description
- 12.1.4.3. Product Portfolio
- 12.1.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.4.5. Recent Developments
- 12.1.5. Steel Dynamics Inc.
- 12.1.5.1. Overview
- 12.1.5.2. Description
- 12.1.5.3. Product Portfolio
- 12.1.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5.5. Recent Developments
- 12.1.6. POSCO
- 12.1.6.1. Overview
- 12.1.6.2. Description
- 12.1.6.3. Product Portfolio
- 12.1.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.6.5. Recent Developments
- 12.1.7. Nippon Steel
- 12.1.7.1. Overview
- 12.1.7.2. Description
- 12.1.7.3. Product Portfolio
- 12.1.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.7.5. Recent Developments
- 12.1.8. thyssenkrupp AG
- 12.1.8.1. Overview
- 12.1.8.2. Description
- 12.1.8.3. Product Portfolio
- 12.1.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.8.5. Recent Developments
- 12.1.9. Hesteel Group Tangsteel Company
- 12.1.9.1. Overview
- 12.1.9.2. Description
- 12.1.9.3. Product Portfolio
- 12.1.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.9.5. Recent Developments
- 12.1.10. Hyundai Steel
- 12.1.10.1. Overview
- 12.1.10.2. Description
- 12.1.10.3. Product Portfolio
- 12.1.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.10.5. Recent Developments
- 12.1.11. JFE Steel Corporation
- 12.1.11.1. Overview
- 12.1.11.2. Description
- 12.1.11.3. Product Portfolio
- 12.1.11.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.11.5. Recent Developments
- 12.1.12. Shougang Group
- 12.1.12.1. Overview
- 12.1.12.2. Description
- 12.1.12.3. Product Portfolio
- 12.1.12.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.12.5. Recent Developments
- 12.1.13. Ansteel Group
- 12.1.13.1. Overview
- 12.1.13.2. Description
- 12.1.13.3. Product Portfolio
- 12.1.13.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.13.5. Recent Developments
- 12.1.14. Maanshan Iron & Steel Company Limited
- 12.1.14.1. Overview
- 12.1.14.2. Description
- 12.1.14.3. Product Portfolio
- 12.1.14.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.14.5. Recent Developments
- 12.1.15. GERDAU S.A.
- 12.1.15.1. Overview
- 12.1.15.2. Description
- 12.1.15.3. Product Portfolio
- 12.1.15.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.15.5. Recent Developments
- 12.1.16. Tianjin Youfa Steel Pipe Group
- 12.1.16.1. Overview
- 12.1.16.2. Description
- 12.1.16.3. Product Portfolio
- 12.1.16.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.16.5. Recent Developments
- 12.1.17. United States Steel Corporation
- 12.1.17.1. Overview
- 12.1.17.2. Description
- 12.1.17.3. Product Portfolio
- 12.1.17.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.17.5. Recent Developments
- 12.1.18. Benxi Steel Group
- 12.1.18.1. Overview
- 12.1.18.2. Description
- 12.1.18.3. Product Portfolio
- 12.1.18.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.18.5. Recent Developments
- 12.1.19. China Steel Corporation (CSC)
- 12.1.19.1. Overview
- 12.1.19.2. Description
- 12.1.19.3. Product Portfolio
- 12.1.19.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.19.5. Recent Developments
- 12.1.20. JSW Steel Ltd
- 12.1.20.1. Overview
- 12.1.20.2. Description
- 12.1.20.3. Product Portfolio
- 12.1.20.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.20.5. Recent Developments
- 12.1.21. Tata Steel
- 12.1.21.1. Overview
- 12.1.21.2. Description
- 12.1.21.3. Product Portfolio
- 12.1.21.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.21.5. Recent Developments
- 12.1.22. NLMK Group
- 12.1.22.1. Overview
- 12.1.22.2. Description
- 12.1.22.3. Product Portfolio
- 12.1.22.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.22.5. Recent Developments
- 12.1.23. ShagangGroup
- 12.1.23.1. Overview
- 12.1.23.2. Description
- 12.1.23.3. Product Portfolio
- 12.1.23.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.23.5. Recent Developments
- 12.1.24. Nucor
- 12.1.24.1. Overview
- 12.1.24.2. Description
- 12.1.24.3. Product Portfolio
- 12.1.24.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.24.5. Recent Developments
- 12.1.25. Severstal
- 12.1.25.1. Overview
- 12.1.25.2. Description
- 12.1.25.3. Product Portfolio
- 12.1.25.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.25.5. Recent Developments
- 13. Strategic Recommendations
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