Southeast Asia Galvanized Steel Market Size, Share, Growth Analysis, By Application(building and construction, automobile, white goods, shipbuilding), By Type(hot-dipped and electro-galvanized steel), By Region - Industry Forecast 2024-2031
Report ID:
SQMIR15O2029 |
Region:
Regional |
Published Date: February, 2024
Pages:
242
|Tables:
63
|Figures:
65
Southeast Asia Galvanized Steel Market Insights
Southeast Galvanized Steel Market size was USD 10.29 billion in 2019 and USD 11.633 in 2019 and it is expected to reach a valuation of USD 30.91 billion in 2019, at a CAGR of 13% during the forecast period (2024-2031).
The Southeast Asian region's expanding GDPs and increased infrastructure investments are two main drivers of this industry. In addition, the region's rapid urbanization, expanding automobile markets, and creation of the ASEAN economic community provide firms in this market with appealing development prospects.
Construction of warehouses has expanded in emerging nations like China and India due to the online retail sector's rapid expansion. Pre-engineered warehouses are one of the fastest-growing segments in this market. Industries including the automotive, logistics and warehousing, pharmaceutical, fast-moving consumer goods, and the pre-engineered building industry have substantial growth potential. Numerous producers of pre-engineered buildings collaborate with other logistics firms or create their own internal logistics capabilities.
Infrastructure improvement is a priority for the governments of many developing countries, which has increased demand for galvanized steel. The market for l is growing as a result of this. The primary drivers of the market's development are also the qualities and traits of galvanized steel. These qualities include great dependability, rust-freeness, and resistance to corrosion. It is inexpensive, making it a top choice for many construction projects, including the construction of homes and businesses. It is being used more often and more affordably than ordinary steel in a variety of industrial applications, which is helping the market for it to grow. Additionally, the declining price of zinc is a major factor in the market growth. Manufacturers are being influenced by this tendency to look into potential new markets for their products. This in turn is encouraging the worldwide market to grow. One of the main factors driving the market's rise is the building and construction sector's growing awareness of and preference for galvanized steel.
US Galvanized Steel Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hot-dipped
Fastest Growth
Hot-dipped
Growth Rate
13% CAGR
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Southeast Asia Galvanized Steel Market Segmental Analysis
The Southeast Asia Galvanized Steel market is segmented on the basis of application, type and region. On the basis of application the market is divided into building and construction, automobile, white goods, shipbuilding, and other applications. On the basis of type the market is divided into hot-dipped and electro-galvanized steel.
Southeast Galvanized Steel MarketAnalysis by Product Type
The segment of Southeast Asia's galvanized steel market with the biggest share in 2021 was hot-dipped galvanized steel. The significant market share of this category is primarily due to its reduced price, extraordinarily long lifespan, low maintenance requirements, harder coating, and compatibility with all types of adhesives. Since they may continue to provide complete corrosion protection even after being severely shaped, hot-dipped galvanized coatings are regarded as being extremely ductile. Moreover, a number of welding techniques, including resistance, laser, and arc welding, can be used to join hot-dipped galvanized steel.
Southeast Galvanized Steel Market Analysis by Application
The Southeast Asian galvanized steel market is primarily divided into the following application categories: building and construction, automobile, white goods, shipbuilding, and other uses. In 2021, the building and construction industry held the greatest market share for galvanized steel in Southeast Asia. The significant market share of this industry is mostly attributable to its various and quantifiable advantages, including affordability, low maintenance requirements, and resistance to corrosion. Roofs, trusses, frames, purlins, pipes and ducts, inner walls, and many more structures are made of galvanized steel. But over the projection period, the white goods category is anticipated to have the greatest CAGR. Stoves, refrigerators, freezers, washers, dryers, dishwashers, and air conditioners are examples of white goods. It is primarily employed in these appliances because of its corrosion-free and extremely ductile qualities.
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Southeast Asia Galvanized Steel Market Regional Insights
Geographically, Vietnam dominated the Southeast Asian galvanized steel market in 2021. A big portion of this market may be credited to the country's expanding industrial parks, warehouses, and logistics facilities, as well as to the population's rising spending power, which drives up demand for autos in the nation. VinFast, a Vietnamese manufacturer of electric vehicles, started constructing a battery manufacturing facility in the province of Ha Tinh in 2021. The first phase of the project is expected to cost USD 173.7 million. VinFast is doing this to capitalize on the growing consumer interest in electric vehicles. The market in Southeast Asia, however, was dominated by Indonesia in 2021, accounting for the second-largest share. The expanding steel sector and government efforts to enhance Indonesia's infrastructure are primarily responsible for this nation's substantial contribution. By 2028, Indonesia's government hopes to become one of the ten largest economies in the world. The core of this objective is the expansion of Indonesia's manufacturing industry.
Thailand is the fourth-largest vehicle export and assembly center in Asia. By the end of 2020, Thailand's car sector had a severe 21% fall in sales. The government's recent limitations in Thailand that were put in place in June 2021 to stop the spread of the delta variety resulted in a 30–40% decrease in the demand for steel in the building and construction industry. Due to the suspension, Tata Steel Thailand (TSTH) claimed a 20–30% reduction in sales. Due to a scarcity of parts brought on by the pandemic, Toyota Motors Thailand briefly halted vehicle manufacturing at its Ban Pho, Samrong, and Gateway facilities in July 2021. Galvanized steel is used in the production of a number of automobile components, including bumpers, body panels, and car frames. Consequently, the stoppage of vehicle production had a big impact.
- Largest
- Fastest
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Southeast Asia Galvanized Steel Market Dynamics
Southeast Galvanized Steel Market Drivers
Rapid Industrialization to Boost Market Demand
- The expansion of this industry is primarily driven to regional economic growth and growing infrastructure spending in Southeast Asia. Market companies have enormous development potential due to the region's rapid urbanization, expanding automobile markets, and the creation of the ASEAN economic community.
Southeast Galvanized Steel Market Restraints
Stringent Regulations to Hinder Market Growth
- The region's fast urbanization, expanding automobile markets, and the development of the ASEAN economic community somewhat restrain the expansion of this industry. Southeast Asian nations reduce their purchases of Chinese steel. Chinese-made induction furnaces are prohibited in ASEAN nations.
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Southeast Asia Galvanized Steel Market Competitive Landscape
The market for galvanized steel is fragmented and has several well-established companies. Malaysia, Japan, Thailand, and China are the primary nations with the largest market share. JFE Steel, ArcelorMittal, Baosteel, Gerdau, NSSMC, and POSCO Nucor are significant market participants. To enhance their market share, these businesses are concentrating on strategic partnerships, mergers, and acquisitions.
Southeast Galvanized Steel Market Top Player's Company Profiles
- Nippon Steel Corporation (Japan)
- POSCO (South Korea)
- JFE Holdings Inc. (Japan)
- JTL Infra Ltd. (India)
- NS BlueScope steel limited (Singapore)
- Hoa Sen Group (Vietnam)
- Hoa Phat Group (Vietnam)
- DONGKUK Steel Group (South Korea)
- Nam Kim Steel Joint Stock Company (Vietnam)
- Chinh Dai Industrial Co. Ltd (Vietnam)
Southeast Galvanized Steel Market Recent Developments
- In April 2021, Nippon Steel will introduce ZAM®-EX high corrosion-resistant coated steel sheets for international markets. ZAM®-EX, highly corrosion-resistant coated steel sheets, will be introduced by Nippon Steel Corporation (Nippon Steel) for international markets. Since 2000, SuperDyma (SD) and ZAM coated steel sheets from Nippon Steel and the former Nippon Steel Nisshin Co., Ltd. (NSN) have been sold in foreign markets. Even after the two businesses merged in April 2020, the new business kept offering both ZAM and SD. Customers' expectations will be met by the increased adaptability for highly corrosion-resistant coated steel sheets.
- In August 2022, JFE Shoji Corporation (President: Toshinori Kobayashi; hereinafter referred to as "JFE Shoji") and its subsidiary JFE Shoji America Holdings, Inc. (CEO: Junji Yamada; hereinafter referred to as "JFESAHD") have reached an agreement with the shareholders of California Expanded Metal Products Co. (CEO: Ted Poliquin; registered office in Los Angeles County, California; hereinafter referred to as "CEMCO")
Southeast Asia Galvanized Steel Key Market Trends
- The market for galvanized steel will have potential opportunities to grow considerably as a consequence of increased product consumption in the building sector. Initially, this form of steel was not often employed for structural reasons in structures due to its expensive cost. The availability and pricing of this steel have, however, significantly grown over the past 10 years due to technological advancements that have also improved its corrosion resistance and endurance.
Southeast Asia Galvanized Steel Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Southeast Asia Galvanized Steel market analysis, the explosive growth of the automotive sector and the rising demand for Galvanized steel from a wide range of industries, including the chemical, petrochemical, food and beverage, oil and gas, and power generation sectors, among others, are some of the key factors promoting the market's expansion.
| Report Metric | Details |
|---|---|
| Growth Rate | 13% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Southeast Asia Galvanized Steel Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Southeast Asia Galvanized Steel Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Southeast Asia Galvanized Steel Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Southeast Asia Galvanized Steel Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Southeast Asia Galvanized Steel Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Southeast Asia Galvanized Steel Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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