A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Galvanized
Steel Market.
The study, titled “Galvanized
Steel Market - Global Industry Analysis, Size, Share, Growth, Trends,
and Forecast 2017 - 2025”,
is available for sale on the firm’s website.
Galvanized
steel is a type of steel that is corrosion resistant and rust free.
It is manufactured by following a specific process called
galvanization. It involves applying a protective coating of zinc to
prevent rusting and corrosion. The global galvanized steel market can
be segmented into application, end products, and geography.
In
terms of application, the galvanized steel market can be segmented
into buildings and construction, automotive, consumer durables, high
voltage electrical equipment, platforms, stairs, handrails, pipe
fittings and engineering among others. In terms of end products, the
galvanized steel market can be segmented into bolts, nuts, steel main
frames, and cable support systems among others. Moreover, in terms of
geography, the market can be segmented into Asia Pacific (APAC),
Europe, North America, Middle East & Africa (MEA), and South
America.
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Rapid
Industrialization coupled with increasing population have led to the
increase in sales of home, houses and construction expenditures.
Governments of various developing nations are focusing on
infrastructural developments which, in turn, has led to the rise in
demand for galvanized steel. This is acting as a driver in the
expansion of the galvanized steel market. Properties and
characteristics of galvanized steel are also the major factors that
are fuelling the expansion of the market. These characteristics
include corrosion resistant, rust free and high reliability.
Galvanized steel is cheap, thus it is highly preferred in various
constructional purposes such as residential and commercial buildings.
Cost effectiveness and increased usage of galvanized steel in various
industry-based applications in comparison to conventional steel are
further contributing to the expansion of the galvanized steel market.
Moreover, lowered price of zinc is playing a vital role in driving
the expansion of the galvanized steel market. This trend is
persuading manufacturers to explore new business opportunities in the
galvanized steel market. This, in turn, is fuelling the expansion of
the market globally.
Increasing
awareness and popularity of galvanized steel in the building &
construction industry is a key factor boosting the expansion of the
market. Furthermore, reduced or low maintenance cost is another major
factor playing vital role in the expansion of the galvanized steel
market. The engineering industry is a rapidly expanding end-user
segment where galvanized steel has found numerous applications.
Increase in demand of galvanized steel in emerging markets of Asia
Pacific along with various technological needs are acting as
opportunities of the galvanized steel market.
Latest
Galvanized Steel in place of conventional steel is further propelling
the expansion of the galvanized steel market. These factors are
playing a vital role and are simultaneously affecting and
contributing to the expansion of the galvanized steel market
significantly. The galvanized steel market is expanding
significantly, as there is considerable expansion in the construction
and engineering sector and large-scale industries globally. This, in
turn, is increasing the demand for galvanized steel in the market.
Manufacturers are consistently focusing on product development in the
emerging markets as there are opportunities to expand and increase
their market share globally.
Geographically,
APAC is a prominent market for galvanized steel, followed by North
America. Europe is a rapidly expanding market for galvanized steel.
North America is the second largest market, and in terms of market
share, the U.S.is the leading contributor in the region. China and
Japan are among the leading contributors in Asia Pacific. The major
reason behind this significant expansion of the galvanized steel
market in the region is the considerable investments in construction
and infrastructural projects by the governments in the developing
nations. This, in turn, has fuelled the demand of galvanized steel in
the market in the developing nations of APAC.
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The
global galvanized steel market is fragmented with many established
players. The major players in the market are primarily from Malaysia,
Japan, Thailand, China, U.S., and Europe. Key players in the market
are JFE Steel, Arcelor Mittal, Baosteel, Gerdau, NSSMC, and POSCO
Nucor. Other prominent vendors in the market are Hebei Iron and
Steel, AK Steel, Ansteel, United States Steel (USSC), Shagang Group,
and Tata Steel.
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
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