1 Global Hot-dip Galvanized Steel Coil Market Outlook
The global Hot-dip Galvanized Steel Coil market is projected to exhibit substantial growth in the coming years, with a CAGR of 3.6% from 2024 to 2033, reaching a total market size of $102543.92 million USD in 2024. Hot dipped galvanized steel coil is made of carbon steel coated in zinc utilizing the hot-dip process. Hot-dip galvanized steel coil has unique technical properties and is widely used in many industries. Especially in industries that require resistance to atmospheric corrosion, exceptional strength and durability. Including construction, home appliance, automotive, general industrial, etc.
Figure Global Hot-dip Galvanized Steel Coil Market Size and Growth Rate (2024-2033)
2 Hot-dip Galvanized Steel Coil Market Growth Drivers and Constraints
The growth of the hot-dip galvanized steel coil market is influenced by several driving factors. The construction industry’s expansion, due to global population growth, increasing disposable income, and urbanization, has led to a surge in infrastructure investments. This, in turn, has increased the demand for hot-dip galvanized steel coil in applications such as roofing, walls, and structural components. The home appliance industry’s demand for corrosion-resistant materials has also been a significant factor, with hot-dip galvanized steel coil being a popular choice for manufacturing parts like air conditioner casings and refrigerator backs.
However, the market faces challenges that could limit its growth. Raw material price fluctuations pose a significant risk, as the industry is heavily dependent on steel and zinc, whose prices are subject to market supply and demand dynamics. High capital barriers, due to the substantial initial investment required for production lines and the need to maintain inventory, present a challenge for smaller enterprises looking to enter the market. Additionally, customer resource barriers exist, as established relationships between suppliers and large industry players like automakers and construction companies can be difficult for new competitors to break into.
3 Hot-dip Galvanized Steel Coil Market Innovations and M&A Activities
In terms of technology innovation, the hot-dip galvanized steel coil market has seen advancements that focus on improving product quality and performance. These innovations aim to meet the growing demand for higher strength and more durable steel coils. Corporate mergers and acquisitions have also played a significant role in shaping the market landscape, with major players expanding their reach and strengthening their market positions through strategic acquisitions.
For instance, the report mentions the expansion of JM Steel with the acquisition of Five Star Roll Form LLC, enhancing its capabilities in flat-rolled steel products. Similarly, BlueScope’s acquisition of Coil Coatings, the second-largest metal coating and painting company in the U.S., signifies a significant step in the company’s U.S. expansion strategy. These moves not only indicate a consolidation within the industry but also highlight the strategic importance of technology and market presence in driving business growth.
In conclusion, the hot-dip galvanized steel coil market is poised for steady growth, driven by global infrastructure development and the demand for durable materials in various industries. Despite challenges such as raw material price volatility and high entry barriers, the market’s potential for innovation and the strategic maneuvers of key players will continue to shape its trajectory in the coming years.
4 Global Hot-dip Galvanized Steel Coil Market Analysis by Type
In 2024, the global forecasted revenue for hot-dip galvanized steel coil is anticipated to be $102,543.92 million USD, with a slight increase from the previous year. This revenue is segmented by type, where the thinner than 3mm category is projected to generate $58,095.51 million USD, capturing a market share of 56.65%. Conversely, the thicker than 3mm category is expected to contribute $44,448.41 million USD, securing a 43.35% share of the market. These figures underscore the dominance of the thinner steel coil in the market, yet they also highlight the substantial revenue generated by the thicker counterpart, indicating a balanced demand across different product types.
Table Global Hot-dip Galvanized Steel Coil Market Size and Share by Type in 2024
|
Type |
Market Size in 2024 (M USD) |
Market Share in 2024 (%) |
|---|---|---|
|
Thickness < 3mm |
58095.51 |
56.65% |
|
Thickness＞3mm |
44448.41 |
43.35% |
5 Global Hot-dip Galvanized Steel Coil Market Analysis by Application
In 2024, the global forecasted consumption of hot-dip galvanized steel coil is projected to reach 149,669.6 K Tons, with different applications claiming varying market shares. The construction sector is anticipated to lead with a consumption of 67,736.9 K Tons, accounting for a 45.26% share of the total market. The home appliance industry follows with 20,020.7 K Tons, representing a 13.38% market share. The automotive sector is also significant, forecasting a consumption of 44,106.6 K Tons, which translates to a 29.47% market share. General industrial use is expected to consume 11,974.5 K Tons, capturing 8.00% of the market. Lastly, other applications are projected to account for 5,830.9 K Tons, or 3.90% of the total consumption. These figures reflect the diverse utilization of hot-dip galvanized steel coil across various industries, with construction and automotive applications being the most dominant consumers.
Table Global Hot-dip Galvanized Steel Coil Consumption and Share by Application in 2024
|
Application |
Consumption in 2024 (K Tons) |
Market Share in 2024 (%) |
|---|---|---|
|
Construction |
67736.9 |
45.26% |
|
Home Appliance |
20020.7 |
13.38% |
|
Automotive |
44106.6 |
29.47% |
|
General Industrial |
11974.5 |
8.00% |
|
Others |
5830.9 |
3.90% |
6 Global Hot-dip Galvanized Steel Coil Market Analysis by Region
In 2024, the global Hot-dip Galvanized Steel Coil market revenue by region demonstrated a significant distribution. Particularly China, led the market with robust domestic demand, supportive policies, and a strong manufacturing base. China was estimated to generate a revenue of $49848.99 million, holding a market share of 48.61%. The region’s share in terms of revenue was more than half of the global market revenue, and it is expected to maintain this dominance during the forecast period due to increasing construction ventures, automotive manufacturing, and investments in renewable energy initiatives. Europe followed with a revenue of $16880.61 million, capturing a 16.46% market share. The North America contributed $11754.72 million in revenue, securing a 11.47% market share. These figures underscore the varying contributions of each region to the overall Hot-dip Galvanized Steel Coil market revenue in 2024.
Figure Global Hot-dip Galvanized Steel Coil Market Share by Region in 2024
7 Top 3 Companies of Global Hot-dip Galvanized Steel Coil Market
7.1 Nippon Steel
Company Introduction and Business Overview:
Nippon Steel Corp., headquartered in Tokyo, Japan, is Japan’s largest steel conglomerate. The company’s main products include steel plates, bar steel, steel pipes, special steel, secondary steel products, milled iron and steel blocks, and other processed steel products.
Products Offered:
Nippon Steel’s Hot-dip Galvanized Steel Coil Product Portfolio features a range of high-quality products designed to meet diverse industry needs. Among these is SuperDyma™, a zinc-coated steel sheet that incorporates aluminum, magnesium, and silicon in its coating. This unique alloy provides extreme corrosion resistance, making it ideal for structural steel applications. The product’s advanced properties allow it to withstand a wide range of environmental conditions without compromising its integrity, contributing to its reputation as a preferred choice in various construction and manufacturing sectors.
Sales Revenue in Latest Year:
Nippon Steel recorded a revenue of USD 3,123.35 million, demonstrating its strong position in the industry..
7.2 ArcelorMittal
Company Introduction and Business Overview:
ArcelorMittal is the world’s leading steel and mining company. ArcelorMittal’s steelmaking operations, finishing facilities and mining facilities supply key markets: automotive, appliances, tubing, packaging, construction, energy, heavy equipment, transportation and more. ArcelorMittal’s steel is made using innovative processes that use less energy, significantly reduce carbon emissions and reduce costs. ArcelorMittal manufactures steel for electric vehicles and renewable energy infrastructure that will support the transformation of society in this century.
Products Offered:
ArcelorMittal’s Hot-dip Galvanized Steel Coil Product Portfolio encompasses a variety of steel products that cater to different market demands. Their galvanized steel is produced through a continuous process that includes cleaning, annealing, and coating, resulting in a two-sided zinc-coated product. They offer Galvannealed, which is a zinc coating heat-treated and transformed into an iron/zinc alloy, enhancing painting and weldability. ArcelorMittal also produces Spangle, which minimizes zinc crystallization through alloy additions in the zinc bath, providing a uniform surface. Temper rolling further improves the surface, locking in mechanical properties and desired surface roughness. To protect the zinc surface from oxidation or white rust, an oil or chemical treatment is applied. These GI (Galvanized Iron) products are known for their overall corrosion resistance, non-flaking properties, and cost-effectiveness, making them among the most reliable and economical steel sheet products available in the market today.
Sales Revenue in Latest Year:
The company’s revenue was USD 2,320.92 million, reflecting its substantial contribution to the market..
7.3 POSCO
Company Introduction and Business Overview:
POSCO is the world’s sixth largest steel producer and an industry leader in developing advanced customer solutions. POSCO has been named the world’s most competitive steelmaker by World Steel Dynamics for the 12th consecutive year (as of 2021), and at Davos 2019, POSCO was named a “Lighthouse Factory” by the World Economic Forum for leading innovation in manufacturing. POSCO pursues “Corporate Citizenship: Building a Better Future Together”. POSCO will be a valuable member of society, growing with various stakeholders such as employees, shareholders, customers, suppliers, suppliers and local communities.
Products Offered:
POSCO’s Hot-dip Galvanized Steel Coil Product Portfolio is centered around GI/GI(H) products, which are galvanized steel sheets with exceptional plating reliability, rust inhibition, and cost-effectiveness. GI is processed on a cold rolled plate, while GI(H) is processed on a hot rolled plate, and both result in fine zinc crystallization that suppresses normal zinc crystallization. These products are ideal for a multitude of industries due to their good plating reliability and rust inhibition properties.
Sales Revenue in Latest Year:
POSCO achieved a revenue of USD 2,018.20 million, with a gross margin of 22.59%, indicating its strong financial health and market performance.