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Electrical Steel Coatings Market Size

Report ID: GMI10877
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Published Date: August 2024
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Report Format: PDF

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Electrical Steel Coatings Market Size

Electrical Steel Coatings Market was valued at around USD 304 million in 2023 and is anticipated to register a CAGR of over 5.3% between 2024 and 2032. The demand for electrical steel coatings is driven by the increasing need for energy-efficient transformers and electric motors, as industries and utilities aim to reduce energy losses.

 

Electrical Steel Coatings Market

The rise of renewable energy projects and smart grids also boosts demand, as these systems require high-performance electrical components. Additionally, the growth of the electric vehicle market is accelerating the need for advanced coatings to enhance the efficiency and durability of electric drivetrains. Stricter regulations on energy efficiency and environmental impact are further pushing manufacturers to adopt high-quality coatings. Overall, these factors are collectively driving the growth of the market. Thus, the market is expected to attain a market value of over USD 490 million by 2032.

 

The high cost of advanced electrical steel coatings presents a significant challenge for the market. These coatings, essential for improving energy efficiency and durability, often involve complex manufacturing processes and expensive raw materials, driving up costs. As a result, some manufacturers, especially in cost-sensitive regions, may hesitate to adopt these coatings, limiting their market penetration. Additionally, the cost barrier can slow down the widespread implementation of energy-efficient technologies. This price sensitivity could hinder the market's growth, particularly in regions with tight budget constraints.

 

Authors: Kiran Pulidindi, Manish Verma
Frequently Asked Question(FAQ) :
What is the size of electrical steel coatings market?
Market size for electrical steel coatings was valued at around USD 304 million in 2023 and is anticipated to register a CAGR of over 5.3% between 2024 and 2032, driven by the increasing need for energy-efficient transformers and electric motors.
Why is the demand for C5 type electrical steel coatings increasing?
How big is Asia Pacific electrical steel coatings market?
Who are the key players in electrical steel coatings industry?

Report Content

Chapter 1   Methodology & Scope

1.1    Market scope & definition

1.2    Base estimates & calculations

1.3    Forecast calculation

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid sources

1.4.2.2    Public sources

Chapter 2   Executive Summary

2.1    Industry 3600 synopsis

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.1.1    Key manufacturers

3.1.2    Distributors

3.1.3    Profit margins across the industry

3.2    Industry impact forces

3.2.1    Growth drivers

3.2.2    Market challenges

3.2.3    Market opportunity

3.2.3.1    New opportunities

3.2.3.2    Growth potential analysis

3.3    Raw material landscape

3.3.1    Manufacturing trends

3.3.2    Technology evolution

3.3.2.1    Sustainable manufacturing

3.3.2.1.1    Green practices

3.3.2.1.2    Decarbonization

3.3.3    Sustainability in raw materials

3.3.4    Pricing trends (USD/Ton), 2021 – 2032

3.3.4.1    North America

3.3.4.2    Europe

3.3.4.3    Asia Pacific

3.3.4.4    Latin America

3.3.4.5    Middle East & Africa

3.4    Regulations & market impact

3.5    Porter’s analysis

3.6    PESTEL analysis

Chapter 4   Competitive Landscape, 2023

4.1    Company market share analysis

4.2    Competitive positioning matrix

4.3    Strategic outlook matrix

Chapter 5   Market Size and Forecast, Coatings Type, 2021-2032 (USD Million, Kilo Tons)

5.1    Key trends

5.2    C2

5.3    C3

5.4    C4

5.5    C5

5.6    C6

5.7    Other (custom formulations, experimental coatings)

Chapter 6   Market Size and Forecast, Material Type, 2021-2032 (USD Million, Kilo Tons)

6.1    Key trends

6.2    Chrome free

6.3    Chrome-containing

6.4    Formaldehyde-free

6.5    MgO

6.6    Other (ceramic, fluoropolymers)

Chapter 7   Market Size and Forecast, By Application, 2021-2032 (USD Million, Kilo Tons)

7.1    Key trends

7.2    Transformers

7.3    Electric motors

7.4    Generators

7.5    Inductors

7.6    Other (magnetic sensors, relays)

Chapter 8   Market Size and Forecast, By Region, 2021-2032 (USD Million, Kilo Tons)

8.1    Key trends

8.2    North America

8.2.1    U.S.

8.2.2    Canada

8.3    Europe

8.3.1    Germany

8.3.2    UK

8.3.3    France

8.3.4    Italy

8.3.5    Spain

8.3.6    Russia

8.3.7    Rest of Europe

8.4    Asia Pacific

8.4.1    China

8.4.2    India

8.4.3    Japan

8.4.4    Australia

8.4.5    South Korea

8.4.6    Malaysia

8.4.7    Indonesia

8.4.8    Rest of Asia Pacific

8.5    Latin America

8.5.1    Brazil

8.5.2    Mexico

8.5.3    Argentina

8.5.4    Rest of Latin America

8.6    MEA

8.6.1    Saudi Arabia

8.6.2    South Africa

8.6.3    UAE

8.6.4    Rest of MEA

Chapter 9   Company Profiles

9.1    AK Steel Holding Corporation

9.2    ArcelorMittal SA

9.3    Baosteel

9.4    Chemetall GmbH

9.5    Cogent Power Limited

9.6    Dorf Ketal Chemicals

9.7    Filtra Catalysts and Chemicals Ltd.

9.8    JFE Steel Corporation

9.9    Nippon Steel & Sumitomo Metal Corporation (NSSMC)

9.10    Polaris Laser Laminations, LLC

9.11    POSCO

9.12    Proto Laminations Inc.

9.13    Rembrandtin Lack GmbH Nfg. KG

9.14    Steel Authority of India Limited (SAIL)

9.15    Tata Steel

9.16    Thyssenkrupp AG

Authors: Kiran Pulidindi, Manish Verma
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Premium Report Details

Base Year: 2023

Companies covered: 16

Tables & Figures: 210

Countries covered: 25

Pages: 160

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