Mg-Al-Zn Coated Steel Market Set to Reach USD 35 Million By 2027

Facts and Factors Market Research has published a new report titled “Europe Mg-Al-Zn Coated Steel Market By Type (Thin Carbon Steel, Thick Carbon Steel, and Conventional Carbon Steel) and By Application (Automotive, Specialized Greenhouse Structures, Construction, Electric Power Communication, and Industrial Heating, Ventilation, and Air Conditioning (HVAC)): Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”. According to the report, the Europe Mg-Al-Zn Coated Steel market is predicted to be valued at approximately USD 16 million in 2018 and is expected to reach a value of around USD 35 million by 2027, at a CAGR of around 8.7% between 2019 and 2027.

Magnesium Aluminum Zinc alloy is the most common kind of heat-treatable commercial alloy that is utilized in metallurgical coatings and structural components due to its light-weight and high corrosion resistance. In addition to this, in this alloy magnesium, aluminum, and zinc elements are available in different proportions. For instance, the proportion of magnesium in the alloy is 96%, the proportion of Aluminum is 3%, and that of zinc is 1%. The proportion of these elements may vary in the alloy. For example, the Magnesium Aluminum Zinc alloy may comprise 93% of Mg, 6% of Al, and 1% of Zn or 93.5% of Zn, 3.5% of Al, and 3% of Mg.

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Furthermore, Magnesium aluminum zinc alloy is also available in myriad forms including foils, rods, and other shapes. It can be availed in a variety of dimensions & sizes. Magnesium aluminum zinc coated steel is today available easily in different measurements including bulks.

Massive demand for Mg-Al-Zn coated steel in the automotive sector to boost the market growth

Large-scale use of the product in the automotive industry will pave the way for the growth of the Mg-Al-Zn coated steel market in Europe. Apart from this, massive utilization of the Mg-Al-Zn coated steel in the countries of Europe will further drive the business growth over the forecast period.

Moreover, the excellent corrosion resisting feature of the alloy is projected to create a huge demand for the product in the construction activities. Nonetheless, oscillating costs of the product will result in the stagnated growth of the market over the forecast timeframe. However, innovations in the functions of the product along with its burgeoning demand across the developing countries will encourage market trends. This will also reduce the negative impact of the hindrances on the market over the forecast timeline.

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Thick carbon steel to dominate the type segment by 2027

The segmental growth during the forecast timeline is attributed to the massive demand for the thick carbon steel type across the European countries.

Automotive segment to record highest CAGR over the forecast period

The segment is predicted to register the highest growth rate of more than 5% during the period from 2019 to 2027. The growth of the segment in Europe is attributed to the massive use of Mg-Al-Zn coated steel in the automotive sector. Apart from this, the huge presence of major vehicle manufacturers in the region will further contribute towards the segmental growth during the forecast period.

Browse the full “Europe Mg-Al-Zn Coated Steel Market By Type (Thin Carbon Steel, Thick Carbon Steel, and Conventional Carbon Steel) and By Application (Automotive, Specialized Greenhouse Structures, Construction, Electric Power Communication, and Industrial Heating, Ventilation, and Air Conditioning (HVAC)): Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027” Report at http://bit.ly/2t7FDtz

UK to make major revenue contributions towards the European market by 2027

The growth of the market in the UK is attributed to lucrative product demand in various sectors across the country during the forecast period. The product has garnered immense popularity across the country as a result of its corrosion resisting features.

Some of the major players in the business include AGRANA Beteiligungs-AG, ASR GROUP, Associated British Foods plc, BayCo, Inc., TRADIN ORGANIC AGRICULTURE B.V., Wilmar International Ltd., DW Montgomery & Company, E.I.D. - Parry (India) Limited, Florida Crystals Corporation, International Sugars Inc., Louis Dreyfus Company, Pronatec AG, Raízen, Samruddhi Organic Farm (India) Private Limited, TEREOS INTERNACIONAL S.A., Cargill, Inc., and BioCore.

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This report segments the Europe Mg-Al-Zn coated steel market as follows:

Europe Mg-Al-Zn Coated Steel Market: By Type Analysis

Thin Carbon Steel
Thick Carbon Steel
Conventional Carbon Steel

Europe Mg-Al-Zn Coated Steel Market: By Application Analysis

Automotive
Specialized Greenhouse Structures
Construction
Electric Power Communication
Industrial Heating, Ventilation, and Air Conditioning (HVAC)

Europe Mg-Al-Zn Coated Steel Market: Country-wise Segment Analysis

Europe
France
The UK
Spain
Germany
Italy
Nordic Countries
Denmark
Finland
Iceland
Sweden
Norway
Benelux Union
Belgium
The Netherlands
Luxembourg
Rest of Europe

Key Pointers Addressed by the Report

Historical data and forecast analysis of the market
Drivers and Restraints affecting market dynamics
Exhaustive analysis about the future market trends
Comprehensive information about the leading market segments and region
Strategic developments made by the competitive players and in-depth analysis about its impact on market growth

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