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.
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.
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.