Galvanizing Market: Introduction
- Galvanization can be defined as the process of coating zinc to metals such as iron or steel to prevent rusting. Rusting not only makes the outer appearance of the metal unpleasant, but also reduces the tensile strength of the metal, thereby affecting the overall lifespan of the metal. Galvanization can be done through different processes. The most common methods of galvanizing are hot-dip galvanization and electro galvanization.
Key Drivers of the Global Galvanizing Market
- Increase in demand for galvanized metals in appliances, construction, and automotive industry is boosting the growth of the galvanizing market.
- Increase in renovation activities coupled with the rise in investment in residential and commercial projects is estimated to boost the construction industry. This, in turn, is projected to propel the galvanizing market during the forecast period.
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Galvanizing Market: Key Segments
- The global galvanizing market can be segmented based on method, end-use industry, and region. Based on method, the galvanizing market can be classified into hot-dip galvanization, electro galvanization, and others. The market for hot-dip galvanization is anticipated to expand significantly during the forecast period owing to the expansion of end-user industries. Rise in demand for hot-dip galvanization considering its low initial cost; easy availability; and high durability, sustainability, and longevity, is the primary factor driving the hot-dip galvanization market. Based on end-use industry, the market is divided into automotive, early vendor involvement (EVI), construction and infrastructure, appliances, and others. The construction and infrastructure segment is expected to hold significant market share during the forecast period due to increase in the number of construction projects.
North America Expected to Dominate the Galvanizing Market during the Forecast Period
- By region, the global galvanizing market is classified into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
- Country-level bifurcation of the North America market includes the forecast and analysis for the U.S., Canada, and Rest of North America. Country-level analysis and forecast of the Europe market covers the galvanizing market in the U.K., Germany, France, and Rest of Europe. Country-level analysis and forecast of the Asia Pacific market includes major countries in the region such as India, China, Japan, and Rest of Asia Pacific. Middle East & Africa country-level analysis and forecast includes GCC countries, South Africa, and Rest of Middle East & Africa. The South America galvanizing market is categorized into Brazil, and Rest of South America.
- North America is expected to see significant growth and dominate the market during the forecast period. Rising number of construction projects, growing demand for appliances, and increase in demand and supply of automobiles is projected to drive the galvanizing market during the forecast period.
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Key Players Operating in the Global Market
The galvanizing market is fragmented. Increase in competition from new players and substitutes is likely to challenge the market growth during the forecast period. To make the most of the current opportunity, players are now focusing on fast growing segments to maintain their position in the slow growth market.
Some of the major companies identified in the global galvanizing market are:
- Ak Steel Corporation
- ArcelorMittal
- Azz Inc
- Baosteel Co. Ltd
- Gerdau Sa
- HBIS Group
- Nippon Steel Sumitomo Metal Corporation
- Nucor
- POSCO Group
- Tata Steel
- Valmont Industry Inc
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