Market Insight-Global Hot-dip Galvanized Steel Market Overview 2022
The Global Hot-dip Galvanized Steel Market Size was estimated at USD 92602 million in 2021 and is projected to reach USD 108580 million by 2028, exhibiting a CAGR of 2.26% during the forecast period– Bossonresearch.com
Galvanizing, or galvanization, is a manufacturing process where a coating of zinc is applied to steel or iron to offer protection and prevent rusting. Several galvanizing processes are available, but the most commonly offered and used method is called hot-dip galvanizing.
Galvanized steel is among the most popular steel types because of its extended durability, having strength and formability of steel plus corrosion protection of the zinc-iron coating. The zinc protects the base metal by acting as a barrier to corrosive elements, and the sacrificial nature of the coating results in a long-lasting and high-quality steel product.
This versatility makes it applicable to a variety of projects and industries, including agriculture, solar, automotive, construction, and so on.
According to Bosson Research, The Global Hot-dip Galvanized Steel Market Size was estimated at USD 92602 million in 2021 and is projected to reach USD 108580 million by 2028, exhibiting a CAGR of 2.26% during the forecast period.
Figure Global Hot-dip Galvanized Steel Market Size
Source: Bossonresearch.com, 2022
Applications Of Hot Dip Galvanized Steel in The Following Sectors:
Construction
Hot-dip galvanized steel has been utilized for over a century in both residential and commercial construction because of its outstanding durability and maintenance-free qualities.
Although galvanized steel is in large part selected for its corrosion resistance, and decrease in corrosion costs, hot-dip galvanized steel is also specified on construction products for aesthetics, safety, sustainability, and maintenance-free quality.
Aesthetically pleasing and contemporary, galvanized steel's industrial appearance is rapidly becoming a popular architectural choice all over the world.
Fencing, metal framing, staircase, gutters, steel joists, rails, nails, tubing, and poles are some of the many galvanized products used in construction.
Energy Industry
In the building of a power station for power generation, steel is a major construction material. Galvanized steel is used in platforms, equipment buildings, stairs, and handrails. In the area of fuel supply to the main power generating plants galvanized steel conveyor systems are common in a coal-fired power station. Cooling water, water reticulation, and fire protection systems consume huge amounts of galvanized steel in the form of piping and its fittings.
As for power transmission, every piece of steel in a transmission tower is completely galvanized from the main steel frame, every piece of bolt and nut used to fasten the angles together to the cable support systems is completely galvanized. They are now many transmission towers that are also painted with a special paint system for identification purposes.
Automotive
Before the late 1980s, only luxury models were built with zinc-coated bodies, but thereafter more automakers opted for this alternative to protect from corrosion as opposed to the use of layers of paint. We can say that the use of galvanized sheets is now the norm in auto manufacturing. Many automakers are using anti-rust warranties as a marketing tool, offering 12 years to lifetime guarantees.
According to an automotive spokesman for CORUS, about 80 percent of the average car body, known as the body-in-white (BIW) now consists of galvanized sheets. Others put the figure at 65-70 percent, although the CORUS spokesman said the recent move by some producers towards 100 percent galvanized bodies were pushing up the average, which he saw leveling out at about 85-90 percent.
Infrastructure
Governments of many countries now invest and spent a huge part of their budgets on improving the infrastructure such as road highways and expressways, railways, Light Rail Transport system (LRT) and Mass Rapid Transportation system (MRT), Port terminals, and airport facilities. These projects consume huge amounts of exposed steel and as such hot-dip galvanizing is the preferred corrosion protection system.
As for other developments such as schools, hospitals, community halls, and other public places galvanized steel is mainly in galvanized products such as galvanized water tanks for fire protection systems, street lights, safety barriers, and road and drain covers.
Hot-dip galvanized reinforcement steel was only used in critical construction areas such as coastal or marine concrete structures. In the last decade, the use of hot-dip galvanized reinforcement steel increased with the rapid expansion of the road, highways, and expressways. Steel rods and strips for reinforced earth (RE) walls and soil nails are always hot-dips galvanized. Guardrails, crash cushions, decorative street lights, high masts, pedestrian overhead bridges, noise barriers, and parapet handrails are some of the other products that are corrosion protected with hot-dip galvanizing.
Figure Hot-dip Galvanized Steel Market Share by Application
Source: Bossonresearch.com, 2022
Competitive Landscape of the Mobile Communications Market
Top players in the Hot-dip Galvanized Steel Market include ArcelorMittal, Baowu Group, ThyssenKrupp, Steel Dynamics, POSCO, Nippon Steel, Hesteel Group, Hyundai Steel, JFE Steel Corporation, Shougang, Ansteel Group, Maanshan Steel, Gerdau, Youfa Steel Pipe, among others.
Figure Global Hot-dip Galvanized Steel Revenue Market Share by Company
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