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A recent report published by Infinium Global Research on zinc coated steel sheets market provides an in-depth analysis of segments and sub-segments in the global as well as regional zinc coated steel sheets market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional zinc coated steel sheets market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global zinc coated steel sheets market. According to the report, the global zinc coated steel sheets market is projected to grow at a CAGR of 7% from USD 15 billion in 2020 to USD 22 billion in 2026 during the forecast period of 2020 – 2026.
Zinc coated steel output has dramatically increased with application expansion in several markets such as construction, automobile, home appliances, and others. Zinc impacts excellent coating protection properties to steel which together with improvement to surface, and steel quality. Metallic coated sheets are corrosion-resistant steel in properties normally coated with zinc in pure or alloyed forms. The process of zinc coating is known as galvanizing and most steel companies use the Hot-dip galvanization (HDG) process for coating. HDG is a method of coating steel with zinc or zinc alloy by putting steel in the bath of molten zinc or zinc alloy.
The zinc coated steel sheets market is driven by increased demand from end-use industries such as construction, infrastructure, automotive, engineering, and others. The construction sector plays a vital role as an end-user for zinc coated steel sheets. Growing urbanization and a rising population are developing new markets for coated steel products in the construction sector. The applications of zinc coated steel sheets include air conditioners, vehicle parts, outdoor electrical boxes, laundry appliances, refrigerators, roofing sheets, wall panels of sheds, and several others. HDG sheets are also used in coastal infrastructures owing to their vulnerability property to a salty environment. However, the availability of alternative coating steel sheets hampers the market growth. Moreover, new investments in metallic-coated steel are being carried out mostly in Asia followed by the US which is expected to provide growth opportunities to the market players. Chinese steelmaker company Chengde is installing an HDG plant with 0.4 million tons per year capacity. COVID-19 pandemic has caused disruptions for the global metal coating and steel industries in recent memory. The continuing rising number of cases and falling demand has caused anxiety among the leading steel sheet producers. The industry was also facing an enormous deficiency of skilled and unskilled laborers as lockdown enforced a large proportion of the workforce to their hometowns. While the entire construction industry has been impacted by COVID-19, the level of disruption varies widely by project and by project’s phase.
Geographically, Asia Pacific holds a large market share of the market as developing economies such as China and India are major zinc coated steel sheets markets. The increase in demand for these steel sheets in the automobile industry drives the market for zinc coated steel sheets. The expansion of the building & construction industries in the North America and Europe regions is also projected to drive demand for zinc coated steel sheets in these regions. However, n the Middle East & Africa, and Latin America, the demand for zinc coated steel sheets is also likely to increase in the near future due to the expansion of the construction industry in these regions.
The report on the global zinc coated steel sheets market covers segments such as type, and application. On the basis of type, the sub-markets include sheets and strips, structures, and pipes and tubes. On the basis of application, the sub-markets include construction, automobile, home appliances, and others.
The report provides profiles of the companies in the market such as JFE Steel Corporation, Nippon Steel & Sumitomo Metal Corporation, Safal Steel, Precision Steel Warehouse, SSAB AB, Curtis Steel Co., Inc., POSCO, Essar Steel, China Baowu Steel Group Corp., Ltd., and Angang Steel Company Limited.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of zinc coated steel sheets market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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