India's JSW Steel Limited has started producing zinc-magnesium-aluminium alloy coated steel products, branded as 'Magsure.' This marks the first time an Indian company has manufactured and marketed such a product domestically. The company has patented the unique chemical composition of Magsure, which is designed for use in high-corrosive environments. Since 2020, the Indian market for this type of steel has grown sixfold, from 15,000 tonnes to 120,000 tonnes in 2023-24.
The entire domestic demand was previously met through imports. For the current fiscal year, India's requirement is expected to double to 250,000 tonnes with a market value of $265 million, driven mainly by the renewable energy sector. JSW Steel is also exploring significant export opportunities for Magsure in Europe and the Middle East
