Galvanization can be defined as the process of coating zinc to metals such as iron or steel to prevent the process of rusting. Rusting not only makes the outer appearance of the metal unpleasant, but also reduces the tensile strength of the metal, thereby affecting the overall lifespan of the metal. Galvanization can be done through different processes.
However, hot-dip galvanization and electrogalvanization are the common types. Hot-dip galvanization helps deposit a thick layer of zinc coating on the surface of the metal, while electrogalvanization is applied when a thin layer of zinc coating is required. Hot-dip galvanizing (HDG) is the process of dipping steel bar in a container or kettle containing zinc in molten state.
HDG metals offer several advantages such as durability, abrasion resistance, uniform protection, and complete coverage. HDG metals are employed in a wide range of applications in industrial, power, utility, petrochemical, and construction projects due to their unmatched durability.
The coating on the surface of the metal is uniform in design, i.e. its thickness is the same across the edges as in flat surfaces. HDG metals maintain their corrosion resistance properties and fulfill the intended design life when exposed to UV rays, snow, concrete, submerged in water, embedded in sand, or any other harsh environment.
Based on furnace type, the market for hot-dip galvanization can be segmented into ceramic and steel kettle. Based on the type of combustion system, the market can be segregated into oil, gas, and electric. In terms of end-user industry, the market for hot-dip galvanization can be divided into building & construction, automotive, electric & electronics, and others.
The market for hot-dip galvanization is anticipated to expand significantly during the forecast period owing to the expansion of end-user industries. Rise in demand for hot-dip galvanization considering its low initial cost; easy availability; and high durability, sustainability, and longevity is the primary factor driving the hot-dip galvanization market.
Development in the construction industry is anticipated to offer opportunities to the hot-dip galvanization market, as hot-dip galvanized products are used as bars, rods, and sheets in infrastructure development. Increase in renovation activities coupled with the rise in investment in residential and commercial projects is estimated to boost the construction industry. This, in turn, is projected to propel the hot-dip galvanization market during the forecast period.
Geographically, Asia Pacific held significant share of the global hot-dip galvanization market in 2015 owing to the burgeoning construction and automotive industries. The construction industry in Asia Pacific has been expanding due to the rise in commercial and industrial construction in developing economies such as India and China.
Demand for construction in residential and commercial sectors has been increasing owing to several factors such as rise in per capita income and spending, GDP growth, and urbanization in several economies in Asia Pacific such as Singapore, Malaysia, and Thailand.
Thus, growth in construction activities is likely to augment the hot-dip galvanization market in the region. Asia Pacific is followed by Europe and North America. Europe holds large share of the hot-dip galvanization market due to the presence of a strong automotive industry.
The hot-dip galvanization market in Latin America is anticipated to register strong growth owing to the development in residential and commercial construction projects in the region. Rapid infrastructural development in the Middle East & Africa is estimated to boost the demand for construction materials, thereby driving the hot-dip galvanization market in the region.
Major players operating in the hot-dip galvanization market are Hasco Thermic, WESTECH, GIMECO IMPIANTI SRL, C. H. Evensen Industriovner AS, Srs Hot Dip Galvanizer, and CORROS METALS.