Galvanized Steel Market - 5.18% CAGR Growth to 2020

PUNE, India, October 28, 2016 /PRNewswire/ --

The global galvanized steel market analyst says one of the latest trends in the market is increase in use of GFRP rebars. GFRP rebars have many advantages over traditional steel rebars and in future will take the market share of galvanized steel. These are made of corrosion resistance and have high-strength glass fibers bound by epoxy resin. This unique combination makes an engineering system which had superior properties. These do not require extra concrete cover, catholic protection, and anti-shrink additives. These are cost effective as compared to galvanized steel. GFRP rebars do not rust or corrode, unlike steel rebars. These are ideal for applications involving water or brine such as retaining walls, canals, swimming pools, offshore platforms, and aquariums.

Complete report on galvanized steel market spread across 72 pages, analyzing 7 major companies and providing 42 data exhibits now available at http://www.sandlerresearch.org/global-galvanized-steel-market-2016-2020.html.

The analysts forecast global galvanized steel market to grow at a CAGR of 5.18% during the period 2016-2020. According to the galvanized steel market report, one of the primary drivers in the market is upgrading of existing transmission and distribution networks. Global investments in transmission and distribution infrastructure will amount approximately $8.4 trillion by 2040. Galvanized steel has wide applications such as equipment buildings, platforms, stairs, and handrails. Piping and its fittings consume massive amounts of galvanized steel in water reticulation, cooling water, and fire protections systems.

APAC is the fastest-growing region in the galvanized steel market and is anticipated to occupy around 68% of the overall market revenue by 2020. The primary reason for this region's growth is the high demand for galvanized steel flat-rolled products coming from the automobile and construction sectors. Moreover, with China being the largest producer of galvanized steel market especially metal-coated steel sheets will accelerate steel production in the region in the coming years.

Galvanized sheets and strips dominated the galvanized steel market and accounted for around 61% of the total market share in 2015. Much of the segment's growth can be attributed to the growing demand coming from the construction and infrastructure industry, which accounts for around 38% of the overall market share. Galvanized sheets and strips are used for several construction purposes including doors, sashes, walls, shutters, fences, beams, columns, partitions, under-ceiling units, carports, verandas, and storerooms.