Galvanizing Plant market shows positive growth across the globe

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 In this business-centric blog, we are going to highlight the galvanizing plant market across the globe with a special focus on hot dip galvanizing plant.

Before we take a deep dive into the subject, it makes sense to learn about galvanization.



Understanding galvanization

In simple language, galvanization is a scientifically designed process of applying a layer of zinc over iron and steel. As a result, the metal develops excellent properties and features, including resistance to rust or corrosion, durability, longevity, sustainability, uniform protection, abrasion resistance, low initial cost, and easy availability 

Rusting is one of the biggest enemies of metal, reducing the overall lifespan of metal and metal-made items.

The market size of the galvanizing-based industry

According to a leading market research company, the galvanizing market size is expected to grow at a CAGR of 4.9% during 2022-27, riding on the rise in economic activities globally post-COVID pandemic. The hot dip plant segment held the largest share of the galvanizing market in 2021. For the benefit of readers, hot-dip galvanizing (HDG) is a scientifically designed process of immersing steel and iron-made items in molten lava of zinc in a kettle

Impact of COVID -19

Similar to any other economic activity, COVID -19 outbreak widely affected the galvanizing market over the year 2020. Owing to the global lockdown, the manufacturing and supply of a wide range of goods and items in the end-use industry declined substantially. Demand for hot dip galvanizing plant didn't remain untouched. It too dipped considerably. The production process of different types of goods in the end-use industry declined substantially due to the non-functioning of manufacturing plants globally.

 Industries that draw benefits from galvanizing plants and the galvanization process
 

According to reputed market research, the hot dip galvanizing plant industry is showing positive growth trends, backed by increased demand in a variety of industries and sectors, including 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 a host of others.

 End used items

Talking about the end user items, galvanized steel has found usage in fencing, staircase, metal framing, steel joists, nails, rails, tubing, poles, rooftops, shades, railing, car frames, auto frames, etc. Building and construction industry held the largest share of the galvanizing market in the year 2021. Experts are of the opinion that it is estimated to grow at a CAGR of 4.2% during the financial period between 2022-27

Emerging economies provide a boost to galvanizing industry

Building and construction activities are witnessing rapid growth in emerging economies, such as India and China. Let’s understand this with an example, according to the International Trade Administration, the revenue from the construction industry reportedly increased from US$ 968 billion in 2019 to US$ 1.1 trillion in 2021 in China. North America dominated the galvanizing market with a substantial share of 45% in 2021, backed by consistent building and construction activities in the USA, Canada, and Mexico.

Conclusion

The post-COVID era appears bright for the galvanization industry, especially hot dip galvanizing plant. This report clearly shows that galvanizing industry can now take a sigh of relief.

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