Hot Dip Galvanized Steel Pipe Market Size, Share & Industry Analysis, By Product Type (Round hot dip galvanized steel pipes, Square hot dip galvanized steel pipes, Rectangular hot dip galvanized steel pipes), By Application (Architecture, Mining Industry, Chemical Industry, Power Industry, Automobile Industry, Others) And Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Hot dip galvanizing is special method, where zinc-iron alloy layers are formed by a metallurgical process. A clean steel is soaked in molten zinc, providing a protective coating to the steel. As zinc is more active as compared to the steel, in situation of eletric-chemical corrosion, zinc undergoes corrosion first and protects steel pipe. Moreover, these pipes are environmentally friendly and offer longer durability.
The hot dip galvanized steel pipe market is primarily driven by the strong demand for corossion resistant storage oil tank and oil transportation pipes in the oil & gas and hydro industries. Further, galvanised hot dip pipes can be quickly welded and are ideal for applications at high temperatures. This is because the barrier coating of the pipes is sturdy and standardized, which assists in long-term safety and makes them ideal for both indoor and outdoor conditions. It is projected that this widespread usage would stimulate the growth of the hot dip galvanised steel pipe industry. However, the volatility in prices of the key raw materials affects the growth of hot dip galvanized steel pipe market. Moreover, the strong presence of substitutes is likely to impede market growth.
Key Market Driver -
Increasing demand for corrosion resistance metal is driving the market.
Key Market Restraint -
Volatility in prices coupled with availability of substitutes is likely to restrict the market growth.
Market Segmentation:
Based on type, the market for hot dip galvanized steel pipe is further segmented into round hot dip galvanized steel pipes, square hot dip galvanized steel pipes, and rectangular hot dip galvanized steel pipes Based on application, the market for hot dip galvanized steel pipeis further segmented into architecture, mining industry, chemical industry, power industry, automobile industry, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Players Covered:
The global & regional players operating in the hot dip galvanized steel Pipe market includes Garg Tube Limited, Xiamen Landee Industries, AK Steel, Hunan Prime Steel Pipe, ArcelorMittal, Nippon Steel Sumitomo Metal, POSCO, Nucor, United States Steel (USS), JSW Steel, Essar Steel and others.
Key Insights
- New Advancements in Production Technologies
- Key Trends in the hot dip galvanized steel pipe market
- New Product Launches, Expansions, Key Players
- Ranking of Key Players in the Marke
Regional Analysis:
North America dominates the global hot dip galvanized steel pipes market in 2019. The market growth is mainly driven by the increased use of galvanised hot dip steel pipes in the chemical industry. According to the American Galvanizers Association, more than 600 kilo tons of zinc is consumed annually in North America to produce 200 kilo tons of hot-dip galvanised steel for the post-manufacturing process and 400 kilo tons for the continuous galvanising process. In Asia Pacific, the market is primarily driven by power industry. The increasing needs for higher standard products for high-voltage transmission, transportation, and communications has fuelled the market growth in the region. In August 2020, a 35.67% anti-dumping duty was imposed by the Government of Thailand on China-origin hot-dipped galvanised coils and sheets. This is expected to have a negative effect on China's steel exports, thereby boosting domestic production of hot-dip galvanised goods. Such factors are likely to increase the supply of hot-dip galvanised steel and further accelerate the market growth. Europe secures a decent market share in the hot dip galvanized steel pipes market. The market is primarily driven mostly by plumbing or tubing purpose, which can withstand corrosion from water and other elements. The UK and Ireland have more than 60 hot dip galvanising plants across the globe. This has fuelled the demand and competition for hot dip galvanized steel pipes in the region. The Middle East and Latin America show slow growth in the market owing to the lack of skilled manufacturers in the region.
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Segmentation
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- Ongoing
- 2023
- 2019-2022
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