Electrical Steel Coatings Market

Global Electrical Steel Coatings Market Analysis and Opportunity Assessment by Coating Type, Material Type, Application, End-Use, Region, and Country – Forecast 2022 – 2032

The market is expected to generate an incremental $ opportunity of US$ 258.0Mn between 2022 and 2032

Category: Chemicals & Materials

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ID: CVC-00458

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Format: PDF+Excel Dataset

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Published Date: October 2022

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Pages: 320

Electrical Steel Coatings Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Electrical Steel Coatings Market grew at a CAGR of 4.9% between 2017-2021 and is estimated to be US$ 312.7Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.2% and is expected to reach a valuation of US$ 570.7Mn by 2032 end.

Insulating silicon steel sheets used in motors and generators are pigmented coatings called electrical steel coatings. To reduce corrosion, eddy current losses, hysteresis losses, and anomalous losses during electrical equipment construction like transformers and motors, these special coatings are being used more and more. In addition, they provide good thermal stability and surface insulation resistance.

Electrical steel coatings have grown to be crucial solutions to guarantee the effectiveness of motors, transformers, and generators. These coatings are primarily employed to insulate the electrical steel sheets used in the fabrication of the magnetizable core of these electrical devices, blocking the flow of electricity and lowering eddy currents.

Therefore, increased production and use of electrical machinery like transformers, generators, and motors will continue to fuel the growth of the global electrical industry.

Market Dynamic

DEVELOPMENT OF LOW-COST COATINGS WITH GOOD QUALITY TO BOOST THE ELECTRICAL STEEL COATINGS MARKET

Exclusive coatings firms may have considerable growth prospects if higher-quality coatings with cheaper costs can be developed. Market participants can take advantage of the possibility of providing high-quality goods at more affordable prices, particularly those engaged in producing electrical steel coatings.

Although major steel producers are building their own coatings production facilities, the cost of large-scale production, R&D, and acquiring raw materials are thought to be the fundamental drivers of successful backward integration. As a result, it will open up opportunities for producers worldwide, eventually leading to market growth for electrical steel coatings.

The market for electrical steel coatings will also benefit from increased demand for electrical equipment, including transformers, generators, and motors in the booming automotive and power sectors.

THE ELECTRICAL STEEL COATINGS MARKET IS FACING RULES AND REGULATIONS PUT IN PLACE TO REDUCE ENERGY USAGE AND POLLUTION

Exclusive coatings firms may have considerable growth prospects if higher-quality coatings with cheaper costs can be developed. Market participants can take advantage of the possibility of providing high-quality goods at more affordable prices, particularly those engaged in producing electrical steel coatings.

Even though major steel producers are building their own coatings production facilities, the cost of large-scale production, R&D, and the acquisition of raw materials are thought to be the fundamental drivers of successful backward integration. As a result, it will open up opportunities for producers worldwide, eventually leading to market growth for electrical steel coatings.

The market for electrical steel coatings will also benefit from increased demand for electrical equipment, including transformers, generators, and motors in the booming automotive and power sectors.

Electrical Steel Coatings Market

Market Segments Covered in Report

By Coating Type:

  • C2
  • C3
  • C4
  • C5
  • C6

By Material Type:

  • Chrome Free
  • Chrome-containing
  • Formaldehyde-free
  • MgO

By Application:

  • Grain-oriented
  • Non-grain Oriented

By End-Use:

  • Transformers
  • Motors
  • Others

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Which end-use segment is projected as the most lucrative segment?

The Transformers segment is projected as the most lucrative segment.

Why is the grain-oriented segment leading the way in the electrical steel coatings market?

Due to its increasing use across numerous end-use industries, grain-oriented electrical steel is anticipated to hold the biggest market share globally for electrical steel coatings during the forecast period.

Grain-oriented electrical steel is a noteworthy material that can produce magnetic flux while at rest and without rotating. Because of this, grain-oriented electrical steel is useful for making transformers. It is commonly utilized in laminated, wrapped, or punched sheets.

For the manufacture of massive, high-performance generators and energy-efficient transformers, grain-oriented electrical steel is a crucial component. Therefore, the target segment’s growth over the next ten years will be fueled by an increase in the use of transformers and generators in the industrial and power & energy sectors.

Which is the most commonly used coating type in the global market?

In the electrical steel coatings market between 2023 and 2032, the C5 coating type is anticipated to hold the bulk of the market share. The C5 coating type uses a chemical process and an inorganic filler to create an insulating coating with high electrical resistance. C5 layers provide excellent surface resistivity before and after stress reduction annealing (SRA).

Punch and die lifetimes will be increased when stamping procedures that include organic materials. When used to prevent the sticking of cold-rolled motor lamination steel and semi-processed non-oriented electrical steel during quality anneals, C5A has a thinner coating than C5AS.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

  • With a market share of 52.7%, the electrical steel coatings market in the Asia Pacific Region is one of the most profitable markets globally. It is anticipated to expand at a rapid rate over the forecast period. The booming automotive sector, rising government spending on building the infrastructure for electricity, and the accessibility of electrified steel coatings at significantly reduced prices all contribute to the market’s growth.
  • Throughout the forecast period, the U.S. will continue to dominate the worldwide electrical steel coatings market, with a market share of about 7% in 2023. The U.S. market for electrical steel coatings is being driven by the rapid growth of the nation’s power infrastructure, the growing demand for improved transformer and motor efficiency, and a strong presence from major manufacturers.

Competition Analysis

Leading producers of electrical steel coatings are currently concentrating on business expansion and new product launches, as well as research and development of organic-based electrical steel coatings to increase their market share.

The key developments in the Global Electrical Steel Coatings Market:

  • In August 2021, to satisfy a crucial demand of impending environmental legislation, the Austrian industrial coatings business Rembrandtin asserts to have created the first chromium-free electrostrip coating for grain-oriented electrical steel used in distribution transformers.
  • In April 2019, Thyssenkrupp began operating its production line for grain-oriented electrical steel coatings in Nashik. This aided the business in expanding its market share in India.

A list of some of the key suppliers present in the market are:

  • Axalta Coating Systems Ltd.
  • ThyssenKrupp AG
  • Rembrandtin Lack GmbH Nfg. KG
  • POSCO
  • Baosteel
  • Nippon Steel & Sumitomo Metal Corporation (NSSMC)
  • ArcelorMittal SA
  • JFE Steel Corporation
  • Filtra Catalysts and Chemicals Ltd.
  • Polaris Laser Laminations, LLC
  • Wuhan Iron & Steel (GROUP) CORP.
  • Proto Laminations Inc.
  • AK Steel Holding Corporation
  • Cogent Power Limited
  • Chemetall GmbH

Report Coverage and Highlights

  • Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
  • Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
  • The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
  • Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
  • Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
  • Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
  • Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
  • Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
  • Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
  • Strategic market analysis, recommendations, and future headways on crucial winning strategies.
Research ScopeDetails
Forecast period2022-2032
Historical data available for2017-2021
Market analysisUSD Million for Value and Tons for Volume, and CAGR from 2022 to 2032
Key regions coveredNorth America, Latin America, Europe, Asia-Pacific, Middle East, and Africa
Key countries coveredUS, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt
Key segments coveredBy Coating Type, Material Type, Application, End-Use, and Region
Customization scopeAvailable upon Request
Pricing and purchase optionsAvailable upon Request

Frequently Asked Questions

In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 6.2%.

Development of low-cost coatings with good quality to boost the electrical steel coatings market.

Major global Electrical Steel Coatings Market players are Axalta Coating Systems Ltd., Thyssenkrupp AG, Rembrandtin Lack GmbH Nfg. KG, POSCO, Baosteel, Nippon Steel & Sumitomo Metal Corporation (NSSMC), ArcelorMittal SA, JFE Steel Corporation, Filtra Catalysts and Chemicals Ltd., Polaris Laser Laminations, LLC, Wuhan Iron & Steel (GROUP) CORP., Proto Laminations Inc., AK Steel Holding Corporation, Cogent Power Limited, Chemetall GmbH

Asia Pacific Region is expected to account for the largest market revenue share in the Global Electrical Steel Coatings market.

  1. Executive Summary
    • Global Market Snapshot
    • Key Success Factors
    • Strategic Analysis and Recommendations
  2. Market Overview
    • Market Taxonomy
    • Market Definitions
  3. Research Methodology
    • Preliminary Investigation & Research Design
    • Secondary Research & Primary Research
    • Data Analysis & Econometric Modelling
    • Expert Data Validation
  4. Key Emerging Trends Analysis
    • Supply-Side Trends
    • Demand-Side Trends
  5. Global Electrical Steel Coatings Market Value (US$ Mn) and Volume (Tons) Analysis
    • Global Market Value (US$ Mn) Analysis, 2017 – 2032
    • Incremental $ Opportunity Index, 2022-2032
    • Global Market Volume (Tons) Analysis, 2017 – 2032
  6. Global Electrical Steel Coatings Market Pricing Analysis
    • Regional Level Pricing Analysis and Forecast
      • Manufacturers Level Pricing
      • Distributor Level Pricing
    • Global Pricing Analysis Benchmark
    • Cost Breakdown Analysis
  7. Cross-Sectional Analysis
    • Cross Analysis of Fuel Type W.R.T. Packaging Fuel Type
  8. Supply Vs. Demand Analysis
    • Regional Supply Vs. Demand Gap Assessment
    • Top Producing Countries Analysis
  9. Market Background
    • Macroeconomic Factors
    • Forecast Factors
    • Market Dynamics
      • Driver
      • Restraint
      • Opportunity
    • Supply Chain Analysis
      • List Raw Fuel Type Suppliers
      • List of Manufacturers
      • List of Distributors
      • List of Packagings
      • Packagings Consumption Analysis
      • Average Profitability Margin Analysis
    • Covid-19 Impact Assessment
      • Economy/Cluster Projections
      • Covid-19 Economic Assessment
      • Impact on Target Market
      • Recovery Scenario
    • Regulatory Framework
      • Regulations of Key Countries
      • Potential Impact of Regulations
    • Porter’s Five Forces Analysis
    • Packaging Landscape
  10. Global Electrical Steel Coatings Market 2017 – 2032 by Coating Type
    • Introduction
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Coating Type [Value (US$ Mn) and Volume (Tons) Analysis]
      • C2
      • C3
      • C4
      • C5
      • C6
    • Market Attractiveness Analysis by Coating Type
  11. Global Electrical Steel Coatings Market 2017 – 2032 by Material Type
    • Introduction
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Material Type [Value (US$ Mn) and Volume (Tons) Analysis]
      • Chrome Free
      • Chrome-containing
      • Formaldehyde-free
      • MgO
    • Market Attractiveness Analysis by Material Type
  12. Global Electrical Steel Coatings Market 2017 – 2032 by Application
    • Introduction
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Application [Value (US$ Mn) and Volume (Tons) Analysis]
      • Grain-oriented
      • Non-grain Oriented
    • Market Attractiveness Analysis by Application
  13. Global Electrical Steel Coatings Market 2017 – 2032 by End-Use
    • Introduction
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By End-Use [Value (US$ Mn) and Volume (Tons) Analysis]
      • Transformers
      • Motors
      • Others
    • Market Attractiveness Analysis by End-Use
  14. Global Electrical Steel Coatings Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032 by Region
    • Introduction
    • Key Market Trends
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Region [Value (US$ Mn) and Volume (Tons) Analysis]
      • North America
      • Latin America
      • Europe
      • Asia-Pacific
      • Middle East
      • Africa
    • Market Attractiveness Analysis by Region
  15. North America Electrical Steel Coatings Market Historical Analysis 2017 – 2021 and Forecast 2022-2033
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • U.S.
        • Canada
      • By Coating Type
      • By Material Type
      • By Application
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Coating Type
      • By Material Type
      • By Application
      • By End-Use
  1. Latin America Electrical Steel Coatings Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Brazil
        • Mexico
        • Rest of Latin America
      • By Coating Type
      • By Material Type
      • By Application
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Coating Type
      • By Material Type
      • By Application
      • By End-Use
  1. Europe Electrical Steel Coatings Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Germany
        • Italy
        • France
        • UK
        • Spain
        • Netherlands
        • Norway
        • Russia
        • Rest of Europe
      • By Coating Type
      • By Material Type
      • By Application
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Coating Type
      • By Material Type
      • By Application
      • By End-Use
  1. Asia-Pacific Electrical Steel Coatings Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • China
        • Japan
        • South Korea
        • India
        • Indonesia
        • Thailand
        • Vietnam
        • Australia & New Zealand
        • Rest of Asia-Pacific
      • By Coating Type
      • By Material Type
      • By Application
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Coating Type
      • By Material Type
      • By Application
      • By End-Use
  1. Middle East Electrical Steel Coatings Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Pricing Analysis
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Saudi Arabia
        • Turkey
        • U.A.E.
        • Rest of the Middle East
      • By Coating Type
      • By Material Type
      • By Application
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Coating Type
      • By Material Type
      • By Application
      • By End-Use
  1. Africa Electrical Steel Coatings Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Pricing Analysis
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • South Africa
        • Nigeria
        • Egypt
        • Rest of Africa
      • By Coating Type
      • By Material Type
      • By Application
      • By End-Use
    • Market Attractiveness Analysis
      • By Country
      • By Coating Type
      • By Material Type
      • By Application
      • By End-Use
  2. Competition Analysis
    • Tier Structure Breakdown
    • Market Share Analysis
    • Packaging Capacity Analysis
    • Company Footprint Analysis
      • Packaging Footprint of Players
      • Regional Footprint of Players
      • Channel Footprint of Players
    • Brand Preference Analysis
    • Competition Dashboard
  3. Company Profiles
    • Axalta Coating Systems Ltd.
      • Company Overview
      • Packaging & Financial Portfolio
      • Packaging Facilities
      • Recent Developments
      • SWOT Analysis
      • Strategy Overview
    • ThyssenKrupp AG
    • Rembrandtin Lack GmbH Nfg. KG
    • POSCO
    • Baosteel
    • Nippon Steel & Sumitomo Metal Corporation (NSSMC)
    • ArcelorMittal SA
    • JFE Steel Corporation
    • Filtra Catalysts and Chemicals Ltd.
    • Polaris Laser Laminations, LLC
    • Wuhan Iron & Steel (GROUP) CORP.
    • Proto Laminations Inc.
    • AK Steel Holding Corporation
    • Cogent Power Limited
    • Chemetall GmbH
  4. Assumptions and Acronyms

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