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JSW Steel is expanding its product mix to minimise India's reliance on coated steel imports by introducing JSW Magsure, an indigenous Made in India product. This makes JSW Steel the first and only Indian steel manufacturer to manufacture and market a Zinc-Magnesium-Aluminum alloy-coated steel product in the Indian market. JSW Steel is the patent holder of JSW Magsure's distinct chemical composition.
JSW Magsure is widely used in applications that require high corrosivity. Since 2020, the Indian market for Zinc-Magnesium-Aluminum alloy-coated steel has increased by more than sixfold, from around 15,000 metric tonnes to around 120,000 in FY24. Imports have met all of the market's requirements thus far.
During the current fiscal, India's requirement for Zinc-Magnesium-Aluminium alloy coated steel is expected to double to 2.5 lakh tonnes at a market value of ₹2,200 crores. This demand will be driven mainly by the renewable energy sector.
This special steel is supplied by a handful of global majors using patented technologies. India's heavy reliance on imports of Zinc-Magnesium-Aluminium alloy-coated steel creates significant supply limitations. JSW Steel's JSW Magsure aims to address the supply limitation by offering an indigenous Made in India product with the shortest delivery timelines.
It is expected that improved availability will spur demand for JSW Magsure not only from the domestic renewable energy sector but also from other allied end uses. Besides the domestic market, JSW Steel is also exploring significant export opportunities for JSW Magsure in Europe and the Middle East.
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