Galvanizing Market - Forecast(2023 - 2028)

Report Code: CMR 13434 Report Format: PDF + Excel

Galvanizing Market Overview

Galvanizing market size is forecast to grow at a CAGR of 4.9% during 2022-2027. Galvanization is the process of providing abrasion resistance to the metals such as iron or steel by using a zinc coating to prevent rusting. Rusting reduces the overall lifespan of the metals by reducing the tensile strength and making the outer appearance unpleasant of the metal. Galvanization can be done through different processes such as hot-dip galvanization and electro-galvanization, which are the most common galvanizing methods. The rise in demand for galvanized metals in the appliances, automotive, and construction industries is increasing the growth of the galvanizing market. Additionally, the increase in renovation activities in the construction industry, with the government's rise in investments in residential and commercial projects, is estimated to propel the galvanizing industry during the forecast period.

COVID-19 Impact

The COVID-19 outbreak widely affected the galvanizing market over the year 2020. Owing to the nationwide lockdown, the production process of various goods in the end-use industry declined due to the non-functioning of the manufacturing plants. The domestic sales and export of different raw materials have also witnessed a halt during the COVID-19 outbreak. Economies of each sector got affected and resulted in stagnation of activities across the industries that uses galvanizing metals. For instance, according to Eurostat, In April 2021, construction production decreased by 1.6% in the E.U. compared with March 2021; in the euro area, the decrease amounted to 2.2%. Additionally, after an unprecedented decline in March and April (-25.4%), construction in the E.U. region increased dynamically in May 2020 (21.6%) but has since stagnated. Thus, once the building, construction, and transportation activities get back on track and start functioning with total capacity, the market for galvanizing is estimated to incline in the upcoming years.

Report Coverage

The report: "Galvanizing Market – Forecast (2022-2027)" by IndustryARC covers an in-depth analysis of the following segments of the galvanizing market.

By Type: Hot-Dip Galvanizing, Electro Galvanizing, Cold Galvanizing, Zinc Galvanizing, Centrifugal Galvanizing, Trivalent Galvanizing, Roto Barrel Galvanizing, Mechanical Galvanizing, Bolts and Nuts Galvanizing, and Others.
By Combustion Chamber Type: Oil, Gas, Electric, and Others.
By Application: Fencing, Metal Framing, Staircase, Steel Joists, Rails, Nails, Tubing, Poles, and Others.
By End-Use Industry: Building and Construction (Residential Construction, Commercial Construction, Industrial, and Infrastructure), Transportation (Aerospace, Marine, Automotive, and Others), Electrical & Electronics, Wind & Solar Industries, Energy Industry, Telecommunications Industry, and Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa).

Key Takeaways

  • North America dominates the galvanizing market owing to the rising growth and increasing investments in the construction industry. For instance, according to the Department for Promotion of Industry and Internal Trade (DPIIT), till December 2020, FDI in the construction industry stood at US$ 23.99 billion.
  • The rise in the adoption of galvanizing technology in the transportation industry due to its non-corrosive properties is estimated to surge the market growth.
  • The increasing demand for zinc coating in various industries such as the wind and solar energy industry with properties such as anti-rust and tensile strength will drive the growth of the galvanizing market in the forecast period.
  • However, rising environmental and health effects due to the toxicity of zinc can hinder the growth of the galvanizing market.

Figure: North America Galvanizing Market Revenue, 2021-2027 (US$ Billion)

North America Galvanizing Market Revenue

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Galvanizing Market Segment Analysis – By Type

The Hot-dip Galvanizing (HDG) segment held the largest share in the galvanizing market in 2021. Hot-dip galvanizing (HDG) is the process of dipping steel bar in a kettle containing zinc in a molten state for zinc coating on metal. There are several advantages of HDG metals, such as durability, longevity, sustainability, uniform protection, abrasion resistance, low initial cost, and easy availability. Due to such properties, HDG metals are used in a wide range of applications such as in energy, utility, chemical and petrochemical, and construction projects. Moreover, the hot-dip galvanization market is expected to benefit from growth in the construction industry, as hot-dip galvanized goods are utilized as bars, rods, and sheets in infrastructure development. For instance, according to Invest India, by 2025, the building and construction industry is expected to reach US$ 1.4 trillion. Thus, the rising growth of several end-use industries will expand the market growth for hot-dip galvanizing during the forecast period.

Galvanizing Market Segment Analysis – By Combustion Chamber Type

The oil segment held the largest share in the galvanizing market in 2021. Thermal energy is generated inside the combustion chambers at the onset of the galvanizing furnace process to keep the molten zinc under the range of optimal temperature. On heating, oil stays warm for a longer time and is cost-efficient compared to electric systems. The type of fuel decides the heating intensity within the enclosure. Since kerosene-based fuels are most efficiently burned, only a fraction of the air takes part in the combustion process inside the combustion chamber. Thus, increased usage of oil-fired combustion chambers will drive the growth of the galvanizing market in the forecast period.

Galvanizing Market Segment Analysis – By Application

The steel joists segment held the largest share in the galvanizing market in 2021. Galvanizing is majorly used to provide extreme toughness and abrasion resistance to the surface of metals. In construction and automotive sectors, galvanizing metals can be used for fencing, staircase, metal framing, steel joists, nails, rails, tubing, poles, and others, in manufacturing plants, airplane hangars, hospitals, retail stores, garages, and others. Galvanized steel is considered to be more flame resistant in comparison to PVC piping. It is more powerful than aluminum piping, which can be used under freezing conditions without any damage. Steel joist for roof and floor construction provides structural strength and results in substantial savings in construction activities. Larsen & Toubro, in India, in 2019, won contracts for building hospitals, commercial complexes, and manufacturing capacity. The orders range between 2,500 crores (US$ 336.6 million) to 5000 crores (US$ 673.2 million), falling under the large category. Thus, such investments will drive the demand for steel joists type applications and raise the market's growth over the forecast period.

Galvanizing Market Segment Analysis – By End Use Industry

Building and construction industry held the largest share in the galvanizing market in 2021 and is estimated to grow at a CAGR of 4.2% during 2022-2027. In the building and construction industry, galvanizing metals find usage in numerous applications such as fencing, metal framing, staircase, steel joists, rails, nails, tubing, poles, and others. In recent years, with the rising building and construction activities, the demand for galvanizing metals is also set to rise. The building and construction activities are increasing rapidly in emerging economies such as India, the United States, China, and other countries. For instance, according to the International Trade Administration, in China, the revenue from the construction industry reportedly increased from US$ 968 billion in 2019 to US$ 1.1 trillion in 2021. Thus, with the construction sector's growth, the galvanizing market will rise further over the forecast period.

Galvanizing Market Segment Analysis – By Geography

North America dominated the galvanizing market with a share of 45% in 2021, owing to the increasing building and construction activities in the countries such as the USA, Canada, and Mexico. North America region is expected to see significant growth in the market during the forecast period, with the increasing number of automobiles and construction projects and growing demand for appliances. For instance, according to World Bank Organization, the building and construction industry reached US$ 11.9 trillion in 2020, with an increase of about 4.2% from 2019. In the USA, the application of galvanizing is increasing, such as in washing machines, computer parts, air conditioning housings, hairdryers, and others. The zinc coating reduces corrosion and prevents minerals from depositing inside the pipelines, such as in sewer systems and farm irrigation. Also, rising government investment in construction, automotive, electrical & electronics, and other sectors is predicted to uplift the region's galvanizing market growth.

Galvanizing Market Drivers

Increasing demand for galvanizing metals in Transportation Industry

Galvanizing in the transportation industry provides significant advantages in preventing rust and corrosion on automotive body parts. It involves applying a zinc coating to anti-corrosive metal parts through different processes such as hot-dip galvanization and electro-galvanization. Furthermore, with formulations availability, iron and steel marine structures are protected by galvanizing to adhere to wet substrates, such as coating water tanks, outfall structures, fish ladders, and dams. In recent years the rising production of automotive has further raised the demand for galvanizing. For instance, according to Organisation Internationale des Constructeurs d'Automobiles (OICA), in Brazil, motor vehicle production increased from 23,87,967 units in 2018 to 24,48,490 units in the year 2019. Similarly, in Malaysia, the production of motor vehicles increased from 5,20,526 units in 2018 to 5,34,115 units in the year 2019. Additionally, according to the International Trade Administration (ITA), in China, the government anticipates automobile manufacturing to reach 35 million by 2025, making China the world's largest vehicle market. Thus, increasing automation production will require more automotive components, which will drive the galvanizing market during the forecast period.

Rising usage of galvanizing metals in Wind and Solar Energy Sector

Many wind turbine and solar panel manufacturers are now showing an increased interest in galvanizing. Researchers are seeking to improve the galvanizing's performance, such as making it more impact resistant. As a result, zinc coating is frequently employed in the wind and solar energy industry. Any interruption in solar and wind turbine projects work will disrupt continuous services and the addition of undesirable costs. Due to this reason, hot-dip galvanizing has been used as the preferred method for corrosion protection in the wind and solar industry. The rising production of new wind farms will further drive the demand for galvanizing market in the upcoming years. For instance, a joint venture (including Toshiba, Hitachi, Zosen Corp, and JFE Steel) plans to build the world's largest offshore wind farm off the coast of Fukushima, Japan, with up to 143 floating turbines. The wind farm is projected to be operational by 2025. Thus, it is anticipated that with the growth of the wind and solar energy industry, there will be an upsurge in demand for galvanizing, which will subsequently drive the market growth during the forecast period.

Galvanizing Market Challenges

High Installation Cost and Detrimental Nature of Galvanization Will Hamper the Market Growth

Despite galvanizing properties such as longevity and corrosion resistance, galvanized coatings can still be subjected to chipping, cracking, and other damages. In addition, there are environmental hazards by the galvanized pipes and bollards. Their rust might flow into the nearby drains, therefore polluting waterways and impacting animal life. Furthermore, the high cost of galvanization might add up to a lot of money. Since the final installation price of the piping increases, the pipes or bollards are replaced rather than fixed if they are damaged, resulting in more significant expenditures. Thus, the increasing cost, damage, non-eco-friendly nature of galvanization will create hurdles for the market's growth. 

Galvanizing Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the galvanizing market. Galvanizing top 10 companies include:

  1. ArcelorMittal
  2. AZZ Inc.
  3. A.K. Steel Corporation
  4. Nucor
  5. Baosteel Co. Ltd
  6. HBIS Group
  7. Nippon Steel & Sumitomo Metal Corporation
  8. Valmont Industries Inc
  9. Gerdau S.A.
  10. Posco 

Acquisitions/Technology Launches

In August 2021, SAIL-Bokaro Steel Plant developed a high-strength galvanized coil with a yield strength greater than 350 MPa and a high coating thickness of 450 GSM. Indigenously forged steel from the Hot-Dip Galvanizing Line (HDGL) at Cold Rolling Mill-3 (CRM-3) of SAIL-Bokaro Steel Plant will strengthen the mission of "Atmanirbhar Bharat" to fulfill the rising demand for this type of particular steel in the country. 

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1. Galvanizing Market- Market Overview
    1.1 Definitions and Scope
2. Galvanizing Market - Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Combustion Chamber Type
    2.3 Key Trends by Application
    2.4 Key Trends by End Use Industry
    2.5 Key Trends by Geography
3. Galvanizing Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Galvanizing Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Galvanizing Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Galvanizing Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Galvanizing Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Galvanizing Market – By Type (Market Size -US$ Million/Billion)
    8.1 Hot-Dip Galvanizing
    8.2 Electro Galvanizing
    8.3 Cold Galvanizing
    8.4 Zinc Galvanizing
    8.5 Centrifugal Galvanizing
    8.6 Trivalent Galvanizing
    8.7 Roto Barrel Galvanizing
    8.8 Mechanical Galvanizing
    8.9 Bolts And Nuts Galvanizing
    8.10 Others
9. Galvanizing Market – By Combustion Chamber Type (Market Size -US$ Million/Billion)
    9.1 Oil
    9.2 Gas
    9.3 Electric
    9.4 Others
10. Galvanizing Market – By Application (Market Size -US$ Million/Billion)
    10.1 Fencing
    10.2 Metal Framing
    10.3 Staircase
    10.4 Steel Joists
    10.5 Rails
    10.6 Nails
    10.7 Tubing
    10.8 Poles
    10.9 Others
11. Galvanizing Market – By End Use Industry (Market Size -US$ Million/Billion)
    11.1 Electrical & Electronics
    11.2 Wind & Solar Industries
    11.3 Energy Industry
    11.4 Telecommunications Industry
    11.5 Transportation
        11.5.1 Aerospace
        11.5.2 Marine
        11.5.3 Automotive
            11.5.3.1 Passenger Cars
            11.5.3.2 Light Commercial Vehicles
            11.5.3.3 Heavy Commercial Vehicle
        11.5.4 Others
    11.6 Building & Construction
        11.6.1 Residential Construction
            11.6.1.1 Independent homes
            11.6.1.2 Row homes
            11.6.1.3 Large apartment buildings
        11.6.2 Commercial Construction
            11.6.2.1 Hospitals and Healthcare Infrastructure
            11.6.2.2 Educational Institutes
            11.6.2.3 Hotels and Restaurants
            11.6.2.4 Banks and Financial Institutions
            11.6.2.5 Airports
            11.6.2.6 Hyper and Super Market
            11.6.2.7 Shopping Malls
            11.6.2.8 Others
        11.6.3 Industrial
            11.6.3.1 Manufacturing Plants
            11.6.3.2 Industrial Plants
            11.6.3.3 Warehouses
            11.6.3.4 Others
        11.6.4 Infrastructure
            11.6.4.1 Tunnels and Mining
            11.6.4.2 Dams
            11.6.4.3 Bridges
            11.6.4.4 Roads
            11.6.4.5 Others
    11.7 Others
12. Galvanizing Market - By Geography (Market Size -US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zeeland
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Galvanizing Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Galvanizing Market – Industry/Segment Competition Landscape Premium
    14.1 Market Share at Global Level - Major companies
    14.2 Market Share by Key Region - Major companies
15. Galvanizing Market – Key Company List by Country Premium Premium
16. Galvanizing Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"