Galvanized coil is a kind of steel coil that has been coated with zinc on both sides. It is widely used in various industries because of its advantages of strength, durability, toughness and corrosion resistance. Galvanized coil can be produced by two main processes: continuous hot dip galvanizing and electrogalvanizing. The former involves passing the steel through a molten zinc bath, and the latter involves applying zinc through electrolytic treatment.
Recently, the global market for galvanized coil has witnessed some significant developments. According to a report by Market Watch, the global pre painted galvanized steel coil market is expected to grow at a compound annual growth rate (CAGR) of 6.8% from 2023 to 2030, reaching a value of USD 33.7 billion by 2030. The report attributes this growth to the increasing demand for pre painted galvanized steel coil in various sectors such as construction, automotive, appliances and industrial machinery.
Another report by Market Watch states that the global hot-dip galvanized steel coil market size is projected to reach USD 86.9 billion by 2031, registering a CAGR of 5.2% from 2023 to 2031. The report cites the factors such as rising urbanization, industrialization, infrastructure development and environmental awareness as the drivers for the growth of this market segment.
These reports indicate that galvanized coil is a promising product that has a huge potential in the future. Galvanized coil manufacturers and suppliers should seize this opportunity and provide high-quality products and services to their customers.