JSW Steel eyes 50% market share in coated steel area; introduces alloy

31 May 2024 CW Team

JSW Steel has set its sights on capturing 50% of the coated steel market with the introduction of zinc-magnesium-aluminium alloy coated steel. With a hefty investment of Rs 5 billion, JSW has established a capacity of 0.9 million tonnes in Karnataka and Maharashtra. This ambitious move aims to position JSW as a dominant player in the segment within a year.

The rollout of JSW Magsure, the alloy-coated steel product, marks a significant milestone for the company, making it the sole Indian manufacturer in this category. By diversifying its product range, JSW aims to reduce India's dependence on imported coated steel.

Anticipating a surge in demand, particularly from the renewable energy sector, JSW Steel is eyeing both domestic and international markets. The Indian market for zinc-magnesium-aluminium alloy coated steel has witnessed substantial growth, with projections indicating a doubling of demand in the current fiscal year.

This specialised type of galvanised steel offers enhanced corrosion protection, making it ideal for various applications, including solar installations, silos, guardrails, and AC components. Jayant Acharya, Joint Managing Director & CEO, JSW Steel, emphasised the strategic importance of JSW Magsure in fulfilling India's burgeoning needs while aligning with national goals for renewable energy and self-reliance. (Source: ET Infra)

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