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Electrical Steel Coatings Market Trends

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

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Electrical Steel Coatings Market Trends

The electrical steel coatings industry is experiencing trends driven by the increasing emphasis on energy efficiency and sustainability. There is a growing demand for coatings that enhance the performance of transformers and electric motors, particularly in renewable energy and electric vehicle applications. Manufacturers are focusing on developing environmentally friendly coatings that meet stringent regulatory standards. Additionally, advancements in coating technologies are enabling better insulation and reduced energy losses. The market is also witnessing a shift towards chrome-free and formaldehyde-free coatings as part of the industry's move towards safer and greener products.

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

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.

The C5 segment of electrical steel coatings industry is expected to reach USD 198.1 million by 2032, due to their superior performance in high-stress applications, such as transformers and electric motors that operate in demanding environments.

Asia Pacific market is expected to reach USD 219.35 million by 2032, due to its rapidly expanding industrial base, growing energy infrastructure, and significant investments in renewable energy projects.

AK Steel Holding Corporation, ArcelorMittal SA, Baosteel, Chemetall GmbH, Cogent Power Limited, Dorf Ketal Chemicals, Filtra Catalysts and Chemicals Ltd., JFE Steel Corporation, Nippon Steel & Sumitomo Metal Corporation (NSSMC), and Polaris Laser Laminations, LLC.