Westford USA, Aug. 04, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research of the Southeast Asia Galvanized Steel market, increasing use of high-strength galvanized steel, rising demand for pre-painted galvanized steel, growing adoption of galvanized steel in renewable energy projects, expanding application scope in the manufacturing sector, surging demand for galvanized steel in the transportation industry, rising preference for sustainable and eco-friendly materials, advancements in galvanizing technology, increasing emphasis on corrosion resistance, the growing popularity of modular construction methods, expanding export opportunities are the market trends promoting the growth.
Browse in-depth TOC on "Southeast Asia Galvanized Steel Market"
- Pages - 242
- Tables - 92
- Figures - 74
Galvanized steel is a type of steel that has been coated with a layer of zinc. The zinc coating protects the steel from corrosion, making it more durable and long-lasting. Galvanized steel is often used in applications where corrosion resistance is important, such as roofing, fencing, and siding.
Prominent Players in Southeast Asia Galvanized Steel Market
- Thai Steel
- BlueScope Lysaght
- POSCO
- Hota Group
- Southern Steel
- Yusen Steel
- Guangdong Yuyao Steel
- China Steel
- Nippon Steel
- JFE Steel
- Dongbu Steel
- Toyo Kohan
- Hyundai Steel
- Sumitomo Metal Industries
- Hansteel
- Tata Steel
- Ispat Indo
- Alliance Galvanizing
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Hot-dip Galvanized Steel Demand to Grow Substantially in the Forecast Period
Hot-dip galvanized steel dominated the global market owing to its superior corrosion resistance. It is also used in various industries, including construction, automotive, consumer appliances, and more. Its versatility and durability make it a preferred choice for a wide range of applications, from roofing and siding to structural components and automotive parts.
Construction is the Leading Application Segment
In terms of application, construction is the leading segment due to the growing construction industry. In addition, galvanized steel can be easily fabricated and shaped according to the specific requirements of construction projects. It can be used in various forms, such as sheets, coils, pipes, and profiles, catering to the diverse needs of the construction industry.
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Vietnam is the Fastest Growing Market Due to Growing Industrialization
Region-wise, Vietnam is one of the largest growing markets with a huge emphasis on industrialization. The country has invested in infrastructure development projects, including transportation, energy, and construction. These projects drive the demand for galvanized steel in applications such as bridges, highways, power transmission towers, and building structures. In addition, it has emerged as a manufacturing hub, attracting foreign investments and becoming a major exporter of goods. This export-oriented manufacturing sector requires galvanized steel to produce export-oriented goods, contributing to the demand for galvanized steel.
A recent report thoroughly analyzes the major players operating within the Southeast Asia Galvanized Steel market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Southeast Asia Galvanized Steel .
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Key Developments in Southeast Asia Galvanized Steel Market
- In February 2023, Thai Steel acquired BlueScope Lysaght's galvanizing assets in Thailand. This acquisition gave Thai Steel a major player in the galvanized steel market in Thailand. BlueScope Lysaght is a leading provider of galvanized steel, and it has a strong track record of innovation. This acquisition will allow Thai Steel to expand its product offerings and reach new markets.
Key Questions Answered in Southeast Asia Galvanized Steel Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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