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Galvanized steel is the protective zinc coating used for the prevention of rust and corrosion. This process is known as galvanization. Galvanized steel components are used for the construction and repair of steel structures. Galvanized steel exhibits properties such as high durability, enhanced strength & formability of steel, and corrosion resistance. Zinc protects the base metal by acting as a barrier to corrosive elements over a longer period. This versatile nature of galvanized steel makes it applicable in agricultural, solar, constructions, and other sectors.
The repair of damages and prevention of materials from the corrosion leads to high cost and waste of natural resources. The ideal solution for these problems comes out to be galvanization process of the metal surfaces. It is an inexpensive process and hence used widely for various applications. Galvanized steel properties such as high durability, enhanced strength, protective layer, and aesthetics are the major factors for the growth of this market. Upsurge in population and modern lifestyle of people drive the demand for galvanized steel in the construction of residential and commercials sectors. Owing to increase in investment in infrastructure and construction sectors, the market is witnessing strong growth. Regions such as Europe and Asia-Pacific are the largest consumers of galvanized steel, due to the high rate of construction activities and demand for galvanized steel. The investment is further increasing from these regions in the galvanized steel market. Galvanized steel is inexpensive and easily available; thus, it is likely to expect high usage in the forecast timeframe. Furthermore, increase in consumer awareness and popularity of galvanized steel boost the global galvanized steel market growth. However, increase demand–supply gap in the galvanized steel market due to insufficiency of raw materials acts as a major restraint of the market.
The major players operating in the galvanized steel industry are Arcelor Mittal, Nippon Steel Sumitomo Metal, POSCO, Nucor, United States Steel, JSW Steel, Ansteel, and MA Steel. The companies are focusing on organic growth strategies such as new product advancements, patents, and research. The other steps taken by major market players include expansion, acquisitions, partnerships, and collaborations. These activities help in the expansion of the business and customer base for companies.
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Questions answered in the global galvanized steel market research report:
Galvanized Steel Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
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Key Market Players | JSW Steel, Nucor, MA Steel, POSCO, Arcelor Mittal, Nippon Steel Sumitomo Metal, United States Steel, Ansteel |
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