According to the latest market research study released by Technavio, the global galvanized steel market is expected to grow at a CAGR of more than 5% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global galvanized steel market based on end-user:
Global galvanized steel market share by end-user 2015
|
Infrastructure and Construction |
36.17% |
|
Industrial |
17.17% |
|
Power |
15.02% |
|
Automobile and Transportation |
10.12% |
|
Agriculture |
5.21% |
|
Others |
16.31% |
Source: Technavio
The top four revenue contributing product segments are discussed below:
Global galvanized steel market for infrastructure and construction sector
The global galvanized steel market for the infrastructure and construction sector was valued at around 118 million metric tons in 2015 and is predicted to grow at a CAGR of almost 6% by 2020. The extensive use of galvanized steel for gates, doors, street furniture, balconies, walkways, building frameworks, and other applications in the infrastructure and construction sector is making this market segment the fastest growing segment of the market. Rising investments in infrastructural development projects across the globe will also boost the demand for these products in the industry during the forecast period.
“Galvanized steel has numerous applications in the infrastructure and construction industry, especially for applications that have contact with water and require anti-rust treatments. These products are used in the outer linings of commercial buildings, including walls and pillars to protect the structure from rust and corrosion. It is also used for covering gutters and manholes that have proximity to waste pipelines and underground sewers and are prone to rust and corrosion. Such applications in this sector will continue to grow over the period of next four years,” says Chandrakumar Badala Jaganathan, a lead analyst at Technavio for research on metals and minerals.
Global galvanized steel market for the industrial sector
The global galvanized steel market for the industrial sector was valued at around 56 million metric tons in 2015 and is predicted to grow at a CAGR of about 5% by 2020. The growing application of galvanized steel for the production of columns, girders, trusses, steps, stringers, handrail, grating, and expanded metal will aid in the strong growth of this market segment. The primary end-user industries are mining and oil and gas. Mining conditions such as full water immersion, impact and abrasion conditions, elevated temperatures, long-term surface wetness, acidity, and alkalinity are highly prone to rust and corrosion, and the use of these steel products helps to protect the steel structures from corrosion.
Global galvanized steel market for the power sector
The global galvanized steel market for the power sector was valued at about 49 million metric tons in 2015 and is predicted to grow at a CAGR of over 4% by 2020. Galvanized steel is used in transmission towers in the form of bolts and nuts, steel main frame, and cable support systems. These products are widely used in power plants and the transmission and distribution of power in the form of structures of outdoor switchyard and fencing of substations. Transmission poles use aluminum conductors made of galvanized steel wires in order to increase their tensile strength and prevent electrolytic corrosion and rusting.
Global galvanized steel market for automobile and transportation sector
The global galvanized steel market for the automobile and transportation sector was valued at around 33 million metric tons in 2015 and is predicted to grow at a CAGR of about 4% by 2020. The usage of these products for exterior body panels to enhance the corrosion resistance will lead to the adoption of galvanized steel in the automotive sector. Exterior components include doors, panels, trunks, wheels, fuel tank, tires, steering, and braking systems.
The top leading vendors operating in the global galvanized steel market are:
- ArcelorMittal
- Baosteel
- Gerdau
- JFE Steel
- NSSMC
- Nucor
- POSCO
Other prominent vendors in the market include AK Steel, Ansteel, Hebei Iron and Steel, Shagang Group, Tata Steel, and the United States Steel (USSC).
A more detailed analysis is available in the Technavio report titled, ‘Global Galvanized Steel Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Stainless Steel Market 2016-2020
- Global Steel Tubes Market 2016-2020
- Global Welding Equipment Market 2016-2020
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