Galvanized Steel Coil: Introduction
- Galvanized steel coil is the steel sheet galvanized for protection from rust. Regular steel is mostly made of iron which gets rusted when exposed to moisture either by humidity or rain, while galvanized steel has a physical barrier to prevent water from reacting with iron.
- Growing industrialization and population in several emerging economies across the globe is anticipated to surge the demand for galvanized steel coil during the forecast period. Asia Pacific and South America are expected to show significant growth in demand for galvanized steel coil in future.
Key Drivers of the Global Galvanized Steel Coil Market
- Rapid growth in industrialization and urbanization are the major factors driving the demand for galvanized steel coil across the globe. Increasing population is leading to growth in migration to cities which is leading to urbanization, thus boosting the demand for apartments, houses, and commercial complexes. Additionally, growing investment in emerging economies is leading to the increasing establishment of industries and other related infrastructure which encourages the demand for galvanized steel coil.
- Galvanized steel is inexpensive compared to other material, and thus is mostly preferred in construction and infrastructure activities. Cost effectiveness and increase in industrial application of galvanized steel coil is also anticipated to boost its demand in the coming years.
- Increasing demand for galvanized steel coil also encourages new players to enter this market and encourages existing players to focus on technological advancement and product innovation which is also anticipated to lead to further market growth in the coming years.
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Galvanized Steel Coil Market Anticipated to Offer Attractive Opportunities
- Emerging economies across Asia Pacific and South America are showing significant growth in population which is surging the urbanization rate and anticipated to create lucrative opportunities for galvanized steel coil manufacturers in future. Additionally, technological advancement in the product has improved its features such as sustainability and anti-corrosiveness which are also supportive factors for growth of the galvanized steel coil market.
Increasing Trade Tensions Anticipated to Impact Galvanized Steel Coil Production in the Future
- Despite growing market demand for galvanized steel coils across the globe, increasing trade tension in the international market is anticipated to affect the steel trade in the coming years. Decreasing supply of raw material for steel is expected to increase the cost of production which ultimately increases the overall price of galvanized steel coils.
North America and Europe to Hold Major Share of the Global Galvanized Steel Coil Market
- North America and Europe dominate the global galvanized steel coil market owing to increasing construction and infrastructural activities, and also increasing number of industries. The U.S. is the leading consumer of galvanized steel due to increasing residential building construction.
- Asia Pacific is the fastest growing market for galvanized steel coil. China and Japan are key markets in the region. In terms of demand, the two countries account for major share of the market for galvanized steel coil in this region. Increasing number of residential and commercial buildings, and rising investment in infrastructural activities and projects by governments are the major driving factors for regional market growth.
- Several countries in the Middle East and Africa are witnessing significant growth in construction industries and demand for metal products. This is expected to drive the demand for galvanized steel coils, and thereby boost the market in the region.
Key Players Operating in the Global Market
The global galvanized steel coil market is highly concentrated with top manufacturers accounting for approximately 15%-20% of the market share. A few of the key players operating in the global galvanized steel coil market are:
- JFE Steel Corporation
- Baosteel Co., Ltd.
- Gerdau S/A
- Nippon Steel Corporation
- JSW Steel Ltd
- Essar Steel
- thyssenkrupp AG
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Global Galvanized Steel Coil Market: Research Scope
Global Galvanized Steel Coil Market, by Galvanizing Method
- Hot-Dip Galvanizing
- Electro galvanizing
Global Galvanized Steel Coil Market, by Application
- Others (Defense, Metal Fabrication, etc.)
Global Galvanized Steel Coil Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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