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 w2031.’
According to the latest publication from Meticulous Research®, the Southeast Asia galvanized steel market is projected to reach $25.9 billion by 2031, growing at a CAGR of 14.6% from 2023 to 2031. By volume, the market is expected to reach 27.6 million tons by 2031, at a CAGR of 13.8% during the same period.
The market's growth is driven by increasing infrastructure investments, rising demand in the construction industry, and growing GDPs in the region. However, volatility in raw material prices, regulatory compliance, and a decline in the purchase of Chinese steel due to changing international trade dynamics may restrain growth.
Technological advancements in galvanized steel manufacturing and the establishment of the ASEAN Economic Community are expected to create growth opportunities. Conversely, high manufacturing costs pose significant challenges.
The Southeast Asia galvanized steel market is segmented by product type and application. The product type segment includes hot-dipped galvanized steel (hot-dipped zinc coated, hot-dipped aluminum coated, hot-dipped Sn-zinc coated, hot-dipped zinc-magnesium-aluminum alloy coated, hot-dipped zinc-aluminum-silicon alloy coated, and hot-dipped zinc-aluminum-magnesium-silicon alloy coated) and electro-galvanized steel (electrolytic zinc-coated, electrolytic zinc-nickel alloy-coated, electrolytic nickel-coated, electrolytic zinc-Sn-nickel alloy-coated, and electrolytic phosphate-treated). Applications include building and construction (trusses, roofs, frames, exterior walls, interior walls, pipes and ducts, purlins, decking, and other applications), shipbuilding, automotive, white goods (refrigerators, washing machines, air-conditioning units, microwave ovens, and other 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 regional and country levels.
In 2024, hot-dipped galvanized steel is expected to account for the larger market share, over 76.9%, due to its numerous environmental and economic benefits, such as corrosion resistance and low maintenance. This segment is also projected to register the highest CAGR during the forecast period.
The building and construction segment is expected to account for the largest market share, over 70.4%, due to galvanized steel's durability and low maintenance. The white goods segment is projected to register the highest CAGR during the forecast period due to the large portion of steel used in manufacturing.
By country, Vietnam is expected to hold the largest market share, over 37.7%, driven by rapid industrialization and extensive infrastructure development. Indonesia is projected to register the highest CAGR of 16.7%, driven by its large automotive sector and role as a manufacturing hub.
Key players in the Southeast 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- [email protected]
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research