HomePress-release

Redding, California - June 7, 2024

South East Asia Galvanized Steel Market to be Worth $25.9 Billion by 2031

South East Asia Galvanized Steel Market by Product Type (Hot-dipped Galvanized Steel, Electro-galvanized Steel), Application (Building and Construction, Automotive, White Goods, Shipbuilding, Other Applications), and Country - Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled, ‘South East Asia Galvanized Steel Market by Product Type (Hot-dipped Galvanized Steel, Electro-galvanized Steel), Application (Building and Construction, Automotive, White Goods, Shipbuilding, Other Applications), and Country - Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the South East Asia galvanized steel market is expected to reach $25.9 billion by 2031, at a CAGR of 14.6% during the forecast period, 2023-2031. By volume, this market is expected to reach 27.6 million tons by 2031, at a CAGR of 13.8% during the forecast period 2023-2031.

The growth of the South East Asia galvanized steel market is driven by increasing infrastructure investments, rising demand in the construction industry, and rising GDPs in the region. However, the volatility in raw material prices, regulatory compliance and standards, and decline in the purchase of Chinese steel among south East ASIAN countries due to changing international trade dynamics may restrain market growth.

Furthermore, technological advancements in the galvanized steel manufacturing process and the establishment of the ASEAN economic community are expected to create market growth opportunities. However, high manufacturing costs pose a significant challenge to the market’s growth.

The South East Asia galvanized steel market is segmented into product type (hot-dipped galvanized steel {hot-dipped zinc coated galvanized steel, hot-dipped aluminum coated galvanized steel, hot-dipped Sn-zinc coated galvanized steel, hot-dipped zinc-magnesium-aluminum alloy coated galvanized steel, hot-dipped zinc-aluminum-silicon alloy coated galvanized steel, hot dipped zinc-aluminum-magnesium-silicon alloy coated galvanized steel} and electro-galvanized steel {electrolytic zinc-coated galvanized steel, electrolytic zinc-nickel alloy-coated galvanized steel, electrolytic nickel-coated galvanized steel, electrolytic zinc-Sn-nickel alloy-coated galvanized steel, electrolytic phosphate-treated galvanized steel}) and application (building and construction {trusses, roofs, frames, exterior wall, interior wall, pipes and ducts, purlins, decking, and other building and construction applications}, shipbuilding, automotive, white goods {refrigerators, washing machines, air-conditioning, microwave ovens, other white goods appliances}, and other appliances {electrical transmission towers, telecom towers, steel furniture, office equipment, miscellaneous applications}). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on product type, the South East Asia galvanized steel market is segmented into hot-dipped galvanized steel and electro-galvanized steel. In 2024, the hot-dipped galvanized steel segment is expected to account for the larger share of above 76.9% of the South East Asia galvanized steel market. This segment's large market share can be attributed to the various factors as hot-dipped galvanized steel provides numerous environmental and economic benefits to achieve sustainable designs. Also, it can prevent costly and damaging corrosion protection inspections and maintenance. Hot-dip galvanized steel can withstand the effects of corrosion for decades is maintenance-free, and ensures these structures will stand strong long into the future.

Hot-dipped galvanizing facilitates tight bonding of zinc coating with the steel, and it has a low peeling tendency due to its low-friction surface. Due to such factors, hot-dipped galvanized coatings are considered highly ductile since they can maintain their full corrosion protection even after being heavily formed. Moreover, hot-dipped galvanized steel can be welded using a variety of welding methods, including resistance, laser, and arc welding.

Moreover, the hot-dipped galvanized steel segment is projected to register the highest CAGR during the forecast period.

Based on application, the South East Asia galvanized steel market is segmented into building & construction, shipbuilding, automotive, white goods, and other appliances. In 2024, the building & construction segment is expected to account for the largest share of above 70.4% of the South East Asia galvanized steel market. This segment's large market share can be attributed to the various factors of galvanized steel having numerous measurable benefits when it is used as a crucial ingredient in buildings and construction purposes. Steel frames for buildings, whether residential or commercial, are often galvanized to shield against rust and corrosion, making them particularly advantageous in humid or coastal areas. This protection extends to the building’s structural components, safeguarding them from moisture, environmental elements, and other corrosive factors. Galvanized steel is an affordable, low-maintenance option, ideal for metal buildings due to its durability.

Galvanized steel beams and columns offer robust structural support, ensuring the stability and safety of buildings over the long term. Additionally, galvanized steel can be more cost-effective compared to other steel coatings. Its low maintenance requirements and reduced labor costs after construction make it an economical choice. Unlike other coatings, galvanized steel surfaces do not need harsh chemical treatments to prevent corrosion. Simple periodic wiping a few times a year is sufficient to keep the surface corrosion-free. The necessity for durable and low-maintenance building materials fuels the demand for galvanized steel in construction. As infrastructure development accelerates, particularly in emerging markets, the use of galvanized steel is anticipated to increase significantly. Additionally, advancements in galvanizing technologies and a growing emphasis on sustainable construction practices are further enhancing its adoption.

However, the white goods segment is projected to register the highest CAGR during the forecast period. This segment's high growth is attributed to the large portion of steel used for its manufacture. An electro-galvanized steel sheet with a coating weight of 20 g/m2 is normally used for white goods. This is to restrain red rust on steel by taking advantage of the preferential corrosion of zinc under general conditions.

Based on country, the South East Asia galvanized steel market is segmented into Indonesia, Vietnam, Singapore, Thailand, Malaysia, the Philippines, and the Rest of South East Asia. In 2024, Vietnam is expected to account for the largest share of above 37.7% of the South East Asia galvanized steel market. Several key factors drive Vietnam’s significant market share in galvanized steel. Rapid industrialization and extensive infrastructure development are major contributors to the rising demand for galvanized steel. As various industries expand, there is an increased need for durable and corrosion-resistant materials, particularly in construction, automotive, electronics, and other sectors.

The construction industry, in particular, is a major consumer of galvanized steel, utilizing it for roofing, fencing, structural components, and other applications. Vietnam's booming construction sector, propelled by urbanization, real estate development, and large-scale infrastructure projects, significantly boosts the demand for galvanized steel. This trend is expected to continue as the country progresses in its industrial and urban growth.

However, Indonesia is projected to register the highest CAGR of 16.7% during the forecast period. The growth of this regional market can be attributed to various factors, as the automotive sector in Indonesia is one of the largest in South East Asia. Galvanized steel is extensively used in vehicle manufacturing for body panels, chassis, and other components due to its strength and corrosion resistance. The growth in the automotive industry significantly boosts the demand for galvanized steel. Additionally, Indonesia's role as a manufacturing hub for various industries creates numerous export opportunities, further driving the demand for galvanized steel. Export-oriented industries depend on high-quality materials like galvanized steel to meet international standards and remain competitive in South East Asian markets. These factors collectively contribute to the market's growth during the forecast period.

Key Players

The key players operating in the South East Asia galvanized steel market include Essar Steel India Limited (India), Nippon Steel Corporation (Japan), POSCO (South Korea), JFE Holdings, Inc. (Japan), JTL Infra Limited (India), NS BlueScope steel limited (Australia), Hoa Sen Group (Vietnam), Hoa Phat Group (Vietnam), Dongkuk Steel Group (South Korea), Chinh Dai Industrial Co. Ltd (Vietnam), FiW Steel Sdn. Bhd. (Malaysia), Galvaco Industries Sdn. Bhd. (Malaysia), Nam Kim Steel Joint Stock Company (Vietnam), Tata Steel Limited (India), and Hyundai Steel Co., Ltd. (South Korea).

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5019

Key Questions Answered in the Report:

What are the high-growth market segments in terms of product type and application?
What is the historical market size for galvanized steel in South East Asia?
What are the market forecasts and estimates for 2024–2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the South East Asia galvanized steel market?
Who are the major players in the South East Asia galvanized steel market, and what are their market shares?
What is the competitive landscape like?
What are the recent developments in the South East Asia galvanized steel market?
What are the different strategies adopted by major market players?
What are the trends and high-growth countries?
Who are the local emerging players in the South East Asia galvanized steel market, and how do they compete with other players?

Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

3D Printing

5G Technology

Advanced Chemical & Materials

Agrochemicals

Algae Products

Alternative Proteins

Animal Health

Artificial Intelligence

Automotive Technologies

Big Data Analytics

Climate Technologies

Edible Insects

Electric Vehicle

Food & Agriculture Technologies

Hydrogen Technologies

Internet Of Things

In Vitro Diagnostics

Laboratory Instrumentation

Language Learning Technologies

Medical Technologies

Next Generation Technologies

Processing & Packaging Technologies

Robotics & Automation

Smart Technologies

Water & Wastewater Technologies

Miscellaneous / Others

Redding, California - June 7, 2024

South East Asia Galvanized Steel Market to be Worth $25.9 Billion by 2031

South East Asia Galvanized Steel Market by Product Type (Hot-dipped Galvanized Steel, Electro-galvanized Steel), Application (Building and Construction, Automotive, White Goods, Shipbuilding, Other Applications), and Country - Forecast to 2031

Recommended Readings

Advanced Chemical &
Materials

Food & Agriculture
Technologies

Next Generation
Technologies

Processing & Packaging
Technologies

Water & Wastewater
Technologies