Hot-dip Galvanized Steel Market By Product Type (Sheet and Coil, Tubes and Pipes, Wires, Others), By End Use Industry (Construction, Automotive, Home Appliances, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

List of Tables

The hot-dip galvanized steel market attained $47.0 billion in 2022 and is projected to reach $83.7 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032.

Hot-dip galvanized steel refers to a process where steel is coated with a layer of zinc through immersion in a bath of molten zinc, creating a protective barrier against corrosion. This method involves cleaning the steel surface, preheating it to enhance adhesion, and then immersing it in a bath of molten zinc at temperatures around 450°C (842°F). The zinc layer bonds metallurgically with the steel, forming a series of zinc-iron alloy layers, providing robust protection against rust and corrosion. Hot-dip galvanized steel finds extensive use in construction, automotive, and manufacturing industries due to its durability and corrosion resistance properties.

Increase in Demand for Hot-Dip Galvanized Steel from Oil & Gas Industry

The growth in the oil and gas industry is projected to significantly drive the demand for hot-dip galvanized steel. This sector relies heavily on corrosion-resistant materials due to the harsh operating environments associated with exploration, production, transportation, and storage activities.

Pipelines, storage tanks, offshore platforms, and structural components require materials that can withstand exposure to corrosive substances, moisture, and extreme weather conditions. As the oil and gas industry expands to meet global energy demand, particularly in emerging markets and offshore exploration projects, the need for reliable and durable materials such as hot-dip galvanized steel becomes increasingly pronounced.

For instance, in May 2022, ONGC announced plans to invest $4 billion from FY22-25 to rise its exploration efforts in India. According to Indian Brand Equity Foundation, oil demand in India is projected to register a double growth to reach 11 million barrels per day by 2045. The rising oil and gas industry and investment in these projects in emerging economies is expected to boost the hot-dip galvanized steel market.

The stringent regulatory requirements for environmental protection and safety standards further drive the adoption of corrosion-resistant materials in the oil and gas sector, reinforcing the demand for hot-dip galvanized steel solutions. Thus, the growth trajectory of the oil and gas industry serves as a key catalyst for the expansion of the hot-dip galvanized steel market, with its unique properties meeting the industry's stringent performance requirements.

Competition from Alternative Coating Technologies

The hot-dip galvanized steel market faces stiff competition from alternative coating technologies, posing a significant challenge to its growth trajectory. Alternative coating technologies such as electroplating, organic coatings, and thermal spraying, are gaining traction due to their ability to provide tailored solutions for specific applications and environments. Moreover, advancements in these alternative technologies have led to improved environmental sustainability, reduced application time, and enhanced cost-effectiveness, further intensifying the competition.

In addition, the growing emphasis on eco-friendly solutions and regulatory requirements regarding emissions and waste disposal are driving industries to explore alternative coating methods that may have lower environmental impacts compared to traditional hot-dip galvanizing processes. Furthermore, the flexibility of these alternative coatings to adhere to a wide range of substrates, including plastics and composites, expands their applicability across diverse industries beyond traditional steel applications. Thus, the competition from alternative coating technologies hampers the growth of hot-dip galvanized steel market.

Agricultural Equipment Modernization Increases Demand for Hot-Dip Galvanized Steel

Agricultural equipment modernization presents a significant opportunity for the hot-dip galvanized steel market due to several factors. As the agricultural industry undergoes technological advancements and machinery becomes more sophisticated, the demand for durable materials like hot-dip galvanized steel is on the rise. Hot-dip galvanized steel offers superior protection against rust, making it ideal for agricultural equipment operating in harsh outdoor environments, such as tractors, plows, harvesters, and irrigation systems.

According to Economic times, in India, the domestic sales in India increased by 4.19% in June 2023, to 98,438 tractors units compared to 94,477 tractors in June 2022. Hot-dip galvanized steel enhances the structural integrity and lifespan of agricultural machinery, thus aligning with the sustainability goals of modern farming practices. The increasing sale of agricultural machinery is helpful to boost the demand of hot-dip galvanized steel market in the near future.

Furthermore, as farmers and agricultural businesses seek to maximize operational efficiency and minimize downtime, the reliability and low maintenance requirements of hot-dip galvanized steel components make them an attractive choice. With reduced need for repairs and replacements, farmers can achieve greater productivity and cost savings over the long term.

The hot-dip galvanized steel market is segmented on the basis of product type, end-use industry, and region. By product type, the market is divided into sheet and coil, tubes and pipes, wires, and others. By end-use industry, it is categorized into construction, automotive, home appliances and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The major players operating in the global hot-dip galvanized steel are JMT Steel, Jain Steel Industries, Manaksia Steels Limited, Dana Steel, Sanghvi Metal, YIEH, Steel Tubes India, Tianjin Tianyingtai Steel Pipe Co.Ltd, Hebei Shengtian Group Seamless Steel Pipe Co., Ltd, thyssenkrupp AG, and Dinesh Metal Industries.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hot-dip galvanized steel market analysis from 2022 to 2032 to identify the prevailing hot-dip galvanized steel market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the hot-dip galvanized steel market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global hot-dip galvanized steel market trends, key players, market segments, application areas, and market growth strategies.

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Go To Market Strategy
Market share analysis of players by products/segments
Regulatory Guidelines

Key Market Segments

By Product Type

Sheet and Coil
Tubes and Pipes
Wires
Others

By End Use Industry

Construction
Automotive
Home Appliances
Others

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- Italy
- France
- UK
- Spain
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of Latin America

Key Market Players:

JMT Steel
Jain Steel Industries
Manaksia Steels Limited
DANA Steel
Sanghvi Metal
Tianjin Tianyingtai Steel Pipe Co.Ltd
Hebei Shengtian Group Seamless Steel Pipe Co., Ltd
Steel tubes india
UNITED STEEL INDUSTRY CO., LTD
YIEH

Product Code: A113149

CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
3.3. Porter's five forces analysis
3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities
3.5. Value Chain Analysis
3.6. Pricing Analysis
3.7. Regulatory Guidelines
3.8. Patent Landscape

CHAPTER 4: HOT-DIP GALVANIZED STEEL MARKET, BY PRODUCT TYPE

4.1. Overview
- 4.1.1. Market size and forecast
4.2. Sheet and Coil
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
4.3. Tubes and Pipes
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
4.4. Wires
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
4.5. Others
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country

CHAPTER 5: HOT-DIP GALVANIZED STEEL MARKET, BY END USE INDUSTRY

5.1. Overview
- 5.1.1. Market size and forecast
5.2. Construction
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
5.3. Automotive
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
5.4. Home Appliances
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
5.5. Others
- 5.5.1. Key market trends, growth factors and opportunities
- 5.5.2. Market size and forecast, by region
- 5.5.3. Market share analysis by country

CHAPTER 6: HOT-DIP GALVANIZED STEEL MARKET, BY REGION

6.1. Overview
- 6.1.1. Market size and forecast By Region
6.2. North America
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by Product Type
- 6.2.3. Market size and forecast, by End Use Industry
- 6.2.4. Market size and forecast, by country
  - 6.2.4.1. U.S.
  - 6.2.4.1.1. Market size and forecast, by Product Type
  - 6.2.4.1.2. Market size and forecast, by End Use Industry
  - 6.2.4.2. Canada
  - 6.2.4.2.1. Market size and forecast, by Product Type
  - 6.2.4.2.2. Market size and forecast, by End Use Industry
  - 6.2.4.3. Mexico
  - 6.2.4.3.1. Market size and forecast, by Product Type
  - 6.2.4.3.2. Market size and forecast, by End Use Industry
6.3. Europe
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by Product Type
- 6.3.3. Market size and forecast, by End Use Industry
- 6.3.4. Market size and forecast, by country
  - 6.3.4.1. Germany
  - 6.3.4.1.1. Market size and forecast, by Product Type
  - 6.3.4.1.2. Market size and forecast, by End Use Industry
  - 6.3.4.2. Italy
  - 6.3.4.2.1. Market size and forecast, by Product Type
  - 6.3.4.2.2. Market size and forecast, by End Use Industry
  - 6.3.4.3. France
  - 6.3.4.3.1. Market size and forecast, by Product Type
  - 6.3.4.3.2. Market size and forecast, by End Use Industry
  - 6.3.4.4. UK
  - 6.3.4.4.1. Market size and forecast, by Product Type
  - 6.3.4.4.2. Market size and forecast, by End Use Industry
  - 6.3.4.5. Spain
  - 6.3.4.5.1. Market size and forecast, by Product Type
  - 6.3.4.5.2. Market size and forecast, by End Use Industry
  - 6.3.4.6. Rest of Europe
  - 6.3.4.6.1. Market size and forecast, by Product Type
  - 6.3.4.6.2. Market size and forecast, by End Use Industry
6.4. Asia-Pacific
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by Product Type
- 6.4.3. Market size and forecast, by End Use Industry
- 6.4.4. Market size and forecast, by country
  - 6.4.4.1. China
  - 6.4.4.1.1. Market size and forecast, by Product Type
  - 6.4.4.1.2. Market size and forecast, by End Use Industry
  - 6.4.4.2. India
  - 6.4.4.2.1. Market size and forecast, by Product Type
  - 6.4.4.2.2. Market size and forecast, by End Use Industry
  - 6.4.4.3. Japan
  - 6.4.4.3.1. Market size and forecast, by Product Type
  - 6.4.4.3.2. Market size and forecast, by End Use Industry
  - 6.4.4.4. South Korea
  - 6.4.4.4.1. Market size and forecast, by Product Type
  - 6.4.4.4.2. Market size and forecast, by End Use Industry
  - 6.4.4.5. Australia
  - 6.4.4.5.1. Market size and forecast, by Product Type
  - 6.4.4.5.2. Market size and forecast, by End Use Industry
  - 6.4.4.6. Rest of Asia-Pacific
  - 6.4.4.6.1. Market size and forecast, by Product Type
  - 6.4.4.6.2. Market size and forecast, by End Use Industry
6.5. LAMEA
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by Product Type
- 6.5.3. Market size and forecast, by End Use Industry
- 6.5.4. Market size and forecast, by country
  - 6.5.4.1. Brazil
  - 6.5.4.1.1. Market size and forecast, by Product Type
  - 6.5.4.1.2. Market size and forecast, by End Use Industry
  - 6.5.4.2. Saudi Arabia
  - 6.5.4.2.1. Market size and forecast, by Product Type
  - 6.5.4.2.2. Market size and forecast, by End Use Industry
  - 6.5.4.3. South Africa
  - 6.5.4.3.1. Market size and forecast, by Product Type
  - 6.5.4.3.2. Market size and forecast, by End Use Industry
  - 6.5.4.4. Rest of Latin America
  - 6.5.4.4.1. Market size and forecast, by Product Type
  - 6.5.4.4.2. Market size and forecast, by End Use Industry

CHAPTER 7: COMPETITIVE LANDSCAPE

7.1. Introduction
7.2. Top winning strategies
7.3. Product mapping of top 10 player
7.4. Competitive dashboard
7.5. Competitive heatmap
7.6. Top player positioning, 2022

CHAPTER 8: COMPANY PROFILES

8.1. JMT Steel
- 8.1.1. Company overview
- 8.1.2. Key executives
- 8.1.3. Company snapshot
- 8.1.4. Operating business segments
- 8.1.5. Product portfolio
- 8.1.6. Business performance
- 8.1.7. Key strategic moves and developments
8.2. Jain Steel Industries
- 8.2.1. Company overview
- 8.2.2. Key executives
- 8.2.3. Company snapshot
- 8.2.4. Operating business segments
- 8.2.5. Product portfolio
- 8.2.6. Business performance
- 8.2.7. Key strategic moves and developments
8.3. Manaksia Steels Limited
- 8.3.1. Company overview
- 8.3.2. Key executives
- 8.3.3. Company snapshot
- 8.3.4. Operating business segments
- 8.3.5. Product portfolio
- 8.3.6. Business performance
- 8.3.7. Key strategic moves and developments
8.4. DANA Steel
- 8.4.1. Company overview
- 8.4.2. Key executives
- 8.4.3. Company snapshot
- 8.4.4. Operating business segments
- 8.4.5. Product portfolio
- 8.4.6. Business performance
- 8.4.7. Key strategic moves and developments
8.5. Sanghvi Metal
- 8.5.1. Company overview
- 8.5.2. Key executives
- 8.5.3. Company snapshot
- 8.5.4. Operating business segments
- 8.5.5. Product portfolio
- 8.5.6. Business performance
- 8.5.7. Key strategic moves and developments
8.6. Tianjin Tianyingtai Steel Pipe Co.Ltd
- 8.6.1. Company overview
- 8.6.2. Key executives
- 8.6.3. Company snapshot
- 8.6.4. Operating business segments
- 8.6.5. Product portfolio
- 8.6.6. Business performance
- 8.6.7. Key strategic moves and developments
8.7. Hebei Shengtian Group Seamless Steel Pipe Co., Ltd
- 8.7.1. Company overview
- 8.7.2. Key executives
- 8.7.3. Company snapshot
- 8.7.4. Operating business segments
- 8.7.5. Product portfolio
- 8.7.6. Business performance
- 8.7.7. Key strategic moves and developments
8.8. Steel tubes india
- 8.8.1. Company overview
- 8.8.2. Key executives
- 8.8.3. Company snapshot
- 8.8.4. Operating business segments
- 8.8.5. Product portfolio
- 8.8.6. Business performance
- 8.8.7. Key strategic moves and developments
8.9. UNITED STEEL INDUSTRY CO., LTD
- 8.9.1. Company overview
- 8.9.2. Key executives
- 8.9.3. Company snapshot
- 8.9.4. Operating business segments
- 8.9.5. Product portfolio
- 8.9.6. Business performance
- 8.9.7. Key strategic moves and developments
8.10. YIEH
- 8.10.1. Company overview
- 8.10.2. Key executives
- 8.10.3. Company snapshot
- 8.10.4. Operating business segments
- 8.10.5. Product portfolio
- 8.10.6. Business performance
- 8.10.7. Key strategic moves and developments