Summary : 2024 global Zn-Al-Mg coated steel
demand: 58M tons, 2025 forecast 62M tons (high-end share up). Mg-Al-Zn coated
carbon steel market: $22.8B in 2024, $27.5B in 2025. China (largest producer,
>30% output in 2023, Shandong/Guangdong leading) expands via Belt and Road.
U.S. steel tariffs hit exports, reshape markets.
In 2024, the global total demand for
zinc-aluminum-magnesium (Zn-Al-Mg) coated steel reached 58 million tons, and it
is expected to grow to 62 million tons by 2025. Driven by the increasing demand
from emerging sectors such as new energy vehicles and smart home appliances,
the market share of high-end Zn-Al-Mg coated steel is projected to rise from
25% in 2024 to 30% in 2025.
According to CCM observations, the global
market size of magnesium-aluminum-zinc coated carbon steel was $22.838 billion
in 2024 and is expected to reach $27.459 billion in 2025.
China's
Position
China is the world's largest producer of
Zn-Al-Mg coated steel. In 2023, its production volume was approximately 3
million tons, accounting for over 30% of the global total. With continuous
efforts by Chinese enterprises in technological innovation, product
development, and market expansion, the competitiveness of China's Zn-Al-Mg
coated steel products in the international market has gradually increased, and
its position in the global industrial chain has become increasingly important.
In terms of production, Shandong Province
produced approximately 1 million tons of Zn-Al-Mg coated steel in 2023,
accounting for 15% of the national total; Guangdong Province produced about 0.8
million tons, accounting for 12% of the national total. It can be seen that
Shandong in North China and Guangdong in South China have a certain scale of
production, while the production share in other regions is relatively
scattered, indicating an unbalanced regional distribution of production.
With the help of the "Belt and
Road" initiative, Chinese enterprises can further expand overseas markets,
increase product exports, and improve international market share. For example,
cooperating with countries rich in resources but with relatively weak steel
industries to establish Zn-Al-Mg coated steel production bases can not only
meet local market demand but also radiate to surrounding areas.
The "Belt and Road" initiative
has promoted technological exchanges and cooperation among countries. Chinese
enterprises can collaborate with scientific research institutions and
enterprises in countries along the route to jointly develop new technologies
and products, improve the performance and quality of Zn-Al-Mg coated steel, and
meet the needs of different markets. At the same time, they can also absorb
foreign advanced technologies and experience to further enhance the
technological level and innovation capabilities of China's Zn-Al-Mg coated
steel industry.
Impact
of U.S. Tariff Policies
The U.S. tariff increases on imported steel
products have directly raised the cost of Zn-Al-Mg coated steel entering the
U.S. market. For export enterprises, the price competitiveness of their
products has declined. For example, although the direct export volume of
China's coated steel plates to the U.S. accounts for a low proportion of the
total export volume, it has still been affected, with fluctuations in export
volume during 2022-2024.
Some international purchasers may turn to
suppliers from other countries due to price increases caused by tariffs,
leading to order losses and declining export earnings for relevant export
enterprises, which in turn affects their production scale and economic
benefits.
In addition, tariff policies have also
changed the global market pattern of Zn-Al-Mg coated steel. On the one hand,
domestic U.S. steel enterprises have enhanced their competitiveness in the
domestic market due to tariff protection and may expand their production scale
to seize the market share originally held by imported products. On the other
hand, to cope with trade barriers, other countries and regions may strengthen
regional trade cooperation, forming new trade patterns. For example, some
countries may increase trade exchanges within the Asia-Pacific region and
reduce their dependence on the U.S. market, which will prompt adjustments in
the trade flow and market distribution of global Zn-Al-Mg coated steel.
About CCM:
CCM is the leading market intelligence provider for China's agriculture, chemicals, food & feed and life science markets. Founded in 2001, CCM offers a range of content solutions, from price and trade analysis to industry newsletters and customized market research reports. CCM is a brand of Kcomber Inc.
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