Steel is electrochemically processed to produce electro-galvanized, which entails immersing the steel in a zinc bath. The finished product is strong and durable, corrosion resistant, and has great formability, paintability, and weldability. These characteristics define electro-galvanized as a premium product. It is used in several products, including automotive and agricultural equipment, as well as appliances and electrical equipment.
However, have you ever wondered about the growth of electro-galvanized steel in Asia? Well, you will be surprised by the numbers. The Electro Galvanised steel is projected to be $24 Billion in 2028. This means it’s about to grow at a CAGR of 13% from 2021 to 2028.
There are several key players in the market worldwide, including American Elements, 3M, Arcam AB, Ashapura Steel, Parag Metals, etc. However, when it comes to India, there’s one company that has been ruling the industry for years. Yes, you have guessed it right! It is the American Precoat. But the question is, how have they managed to be at the top for such a long time? Through this article, we will be covering exactly the same.
You might have come across their automotive-grade EG Steel. American Precoat recognized that millions of dollars are spent every year importing EG Steel from countries such as South Korea, China, and Taiwan to meet the requirements of its local automobile industries. Hence, the company decided to produce it in India itself for the betterment of the country.
Secondly, American Precoat is playing a big role in Aatmanirbhar Bharat and Make in India initiative. They have recently celebrated the first ever LED and OLED backplate that has been made in India.
The LED and OLED TV technology are those where the PCB and electronic components are directly mounted on the LED and OLED TV Backplate. This Backplate is a cutting-edge technology product made from Special Steel like Electro Galvanized Steel.
This LED and OLED TV Backplate was 100% imported from other countries in India till American Precoat invested in the Make In India initiative of the Hon’ble Prime minister and started India’s first and only Electro Galvanized Steel making in Valsad Gujarat in 2019.
Imposition of Dumping Duties:
The legal battle that lasted over a year, American Precoat Specialty, triumphed after the government issued anti-dumping duties on the EG steel. The government’s decision to impose an anti-dumping charge on imported electro-galvanized steel has got the local steel producers optimistic. This action is anticipated to give domestic manufacturers a platform to develop and catch up to their global competitors, free from the arbitrary demands of foreign exporters.
Through this battle, American Precoat and Dr. Shubh Gautam Jaypee not only thought for them selves but for the entire nation and especially all the local manufacturers.
Wrapping It Up:
Above all these, there’s one thing that has made American precoat one of the renowned electro galvanised steel producers. It is the team involved in all these successes. Dr. Shubh Gautam Jaypee and his team have made it possible for the company to reach heights through their immense dedication and hard work.