Hot-Dip Galvanized Steel Products Market grow at a rate of 42.5%, size, share, trends, key players
The global hot-dip galvanized steel products market will reach at an estimated value of USD 1.93 billion and grow at a rate of 42.5% for the forecast period of 2021 to 2028. Increase in the ability of hot-dip galvanized steel to combat rust and corrosion has led to their extensive use in outdoor applications including automotive, construction, general industries and agriculture among others which acts as a vital factor driving the growth of hot-dip galvanized steel products market.
Hot-dip galvanized steel is a type of galvanized steel which is produced by the hot dip galvanizing method. Hot-dip galvanized steel are generally used in working environments subjected to acid rains, sea water, industrial chemicals, moisture, and weather elements due to their resistance to corrosion.
Increase in renovation activities is the vital factor escalating the market growth, also increase in the investment in residential and commercial projects, increase in the commercial and industrial construction in developing economies such as India and China and increase in the per capita income and spending, GDP growth, and urbanization in several economies in Asia Pacific such as Singapore, Malaysia, and Thailand, are the major factors among others driving the hot-dip galvanized steel products market. Moreover, rising research and development activities in the market and rise in the demand from the emerging economies will further create new opportunities for the hot-dip galvanized steel products market in the forecast period of 2021- 2028.
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Hot-Dip Galvanized Steel Products Market Scope and Market Size
The hot-dip galvanized steel products market is segmented on the basis of product type, application and furnace type. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- Based on product type, the hot-dip galvanized steel products market is segmented into sheet & strip, structure, pipe & tube and wire & hardware.
- On the basis of application, the hot-dip galvanized steel products market is segmented into construction, home appliance, automotive and general industrial.
- The hot-dip galvanized steel products market is also segmented on the basis of furnace type into ceramic and steel kettle.
Hot-Dip Galvanized Steel Products Market Country Level Analysis
The hot-dip galvanized steel products market is analysed and market size, volume information is provided by country, product type, application and furnace type as referenced above.
The countries covered in the hot-dip galvanized steel products market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the hot-dip galvanized steel products market due to rise in development in residential and commercial construction projects, increase in commercial and industrial construction in developing economies such as India and China and rise in per capita income and spending in this region. Europe is the expected region in terms of growth in hot-dip galvanized steel products market due to rise in presence of a strong automotive industry and increase in renovation activities in this region.
The country section of the hot-dip galvanized steel products market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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Competitive Landscape and Hot-Dip Galvanized Steel Products Market Share Analysis
The hot-dip galvanized steel products market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to hot-dip galvanized steel products market.
The major players covered in the hot-dip galvanized steel products market report are Cleveland-Cliffs Corporation, Ansteel Group, ArcelorMittal, China BaoWu Steel Group Corporation Limited, Gerdau S/A, JFE Steel Corporation, SHAGANG GROUP Inc., POSCO, Tata Steel Europe, Parmar Metals Private Limited and Kismat Engineering Works among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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