The Galvanized Steel Market is being driven by Economic growth in China and India
The Galvanized Steel Market is expected to grow at a CAGR of 5.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 51.9 billion. In the oil and gas sector, galvanized steel pipes are indispensable due to their robustness and thermal stability. These pipes are subjected to extreme environmental and chemical conditions during exploration, refining, and transportation processes. Galvanized steel's superior properties, including superior stress crack resistance against oil and gas, low hydrocarbon and methane permeability, corrosion resistance, and impact strength, make it the preferred choice for this industry. The mechanical strength and toughness of galvanized steel pipes ensure they can withstand the demanding requirements of the oil and gas sector.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
224 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.2% |
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Market growth 2025-2029 |
USD 51.9 billion |
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Market structure |
fragmentation |
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YoY growth 2024-2025(%) |
4.9 |
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Key countries |
China, India, Japan, US, South Korea, Germany, Canada, UK, Brazil, France, China, US, India, Japan, and South Korea |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Galvanized Steel Market encompasses various products such as pre-galvanized steel and galvannealed steel, featuring zinc-aluminum coatings for enhanced protection. Galvanized steel comes in various thicknesses and weights, with elongation and hardness properties ensuring durability and longevity. Its long lifespan, minimal maintenance, and safety features make it a preferred choice for numerous applications. Advanced technologies, production methods, testing, inspection, and certification ensure top-notch quality. Logistics, warehousing, distribution, installation, repair, and replacement are integral parts of the market's supply chain.
In the expansive metals and mining industry, the segment focused on steel production represents a significant portion. This market encompasses manufacturers and suppliers of galvanized steel sheets and coils, as well as those involved in the hot-dip galvanizing process and zinc coating application. The global steel market, a key component of this sector, is projected to expand due to escalating demand for steel, particularly in China, where infrastructure development initiatives have fueled construction activity. This growth is driven by the inherent corrosion resistance properties of galvanized steel, making it a preferred choice for various industrial applications.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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