Economic Expansion in China and India to Boost Growth in Global Galvanized Steel Market




Technavio’s market research analysts have estimated that the galvanized steel market will grow at a CAGR of more than 5% by 2022. Technavio’s analysts have identified the economic growth in China and India to be one of the critical factors driving market growth. Steel is considered as pivotal for any country’s economic growth. China and India are the largest crude steel producers in the world. The rapid transformation of the economy and infrastructure in China is driving the galvanized steel market. The growth of manufacturing industries in China is the major reason for triggering the demand for galvanized steel. Moreover, India is one of the major markets to produce galvanized steel products owing to the country's growing construction activities. The easy availability of raw materials and skilled and cost-effective labor is expected to drive the galvanized steel market in APAC.

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Global galvanized steel market: Economic growth in China and India
Steel is of strategic importance to any nation. China and India is among the largest crude steel producers in the world, and India is expected to become the second-largest producer of crude steel during the forecast period. The galvanized steel market in China has been majorly driven by the speedy transformation of its economy and infrastructure. The boom in the infrastructure and manufacturing industry is an important factor propelling the demand for galvanized steel in the country.

According to a senior analyst at Technavio for metals and minerals, “The rapid infrastructural development in China and India are the critical drivers for galvanized steel products. The per capita consumption of galvanized steel is likely to grow because of the rising infrastructure and construction projects for roads, railways, and highways. The easy availability of raw materials and skilled and cost-effective labor is anticipated to drive the galvanized steel market in APAC.”

Global galvanized steel market: Market segmentation and overview

This market research report segments the global galvanized steel market by product form (sheets and strips, structures, and pipes and tubes) and main regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors affecting the market, including drivers, opportunities, trends, and industry-specific challenges.
Based on product form, the sheets and strips segment held the largest market share in 2017, accounting for nearly 59% of the market. This segment is expected to dominate the global market throughout the forecast period.

APAC led the global galvanized steel market in 2017, accounting for a market share of close to 66%. The market in this region is anticipated to grow steadily through 2022.

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Location: United States

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