Home > Polymers & Advanced Materials > High Magnetic Induction Grain-oriented Silicon Steel Market

High Magnetic Induction Grain-oriented Silicon Steel Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI4350

High magnetic induction grain-oriented silicon steel market will show substantial growth from 2021 to 2027 due to surging R&D investments and constant technological advancements. The limitations of electrical steel have paved the path for efficient core materials in the manufacturing and infrastructure of electrical vehicles.

High magnetic induction grain-oriented silicon steel is typically a type of grain-oriented silicon steel alloy, generally called electrical steel, that is made from a chain of annealing as well as rolling treatments and exhibits high permeability.

The growing advancements in the power sector coupled with the rising efforts on mitigating global environmental issues will fuel the product demand. However, the rising preference for amorphous steel may pose a threat to the market progression.

Based on product types, the high magnetic induction grain-oriented silicon steel industry is segmented into cold and hot rolling. Out of these, the market share from the cold rolled grain oriented (CRGO) stainless steel will expand with rising preference for core materials in power and distribution transformers. On account of their low hysteresis and high knee saturation characteristics, these products find extensive adoption for enhancing productivity and offering ease of winding. The soaring demand for lower losses reduced magnetostriction and high resistivity as well as laminating for allowing compact core designs are other factors adding to the market remuneration.

The high magnetic induction grain-oriented silicon steel market size is anticipated to show inclination from power applications. This is ascribing to its increasing utility as wound, punched, or laminated sheets in a wide range of transformers. The surging requirement for electricity, mainly in the APAC region has led to ramped-up power installation plans. The increasing emphasis on extending the transformer grid for enhanced electricity across the household and commercial sector will play a crucial role in the industry growth.

Regionally, the market demand for high magnetic induction grain-oriented silicon steel in the Asia Pacific is expected to rise with the increasing need for energy. The region is also home to a prominent number of market participants that are consistently coming up with several marketing strategies for business expansion. 

For instance, in May 2018, Thyssenkrupp announced its plans for manufacturing cold-rolled grain-oriented electrical steel in Nashik, India, and ramping up its plant output capacity to 35,000 tonnes per year. The proliferating product consumption and production rate, mainly in India and China will additionally favor the regional growth.

Some of the leading players in the high magnetic induction grain-oriented silicon steel market include Thyssenkrupp, JFE Steel Corporation (JFE Holdings), Nippon Steel&Sumitomo Metal, Cogent Power Limited, Posco, AK Steel Intl., Baosteel (SASAC of the State Council), Cogent power, and Arnold Magnetic Technologies Corp.

Apart from focusing on innovations as well as strategic team-ups, such as acquisitions and partnerships, these entities are working on introducing novel production plants for strengthening their geographical footprint in an attempt to sustain competition.

For instance, in April 2020, JFE Shoji acquired Cogent Power, a major electrical steel processing company from Tata Steel. The acquisition helped the firm to gain a powerful foothold to provide transformer cores and to cater to the automotive sector in North America.

COVID-19 pandemic effect on high magnetic induction grain-oriented silicon steel market trends

The COVID-19 crisis not only led to significant turmoil in the global economy but also posed unprecedented challenges to various industries worldwide. Apart from creating roadblocks for the automotive and electric vehicles sector in terms of shuttered operations, it also brought delays in production plant establishments and projects.

However, the industry witnessed considerable demand from the power vertical on account of the imposition of the stringent lockdown policies and work-from-home derivatives that necessitated a consistent supply of electricity in the residential space.

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

Buy Now

Access to only 1 person; cannot be shared; cannot be printed
Access for 2 to 5 users only within same department of one company
Access to a company wide audience; includes subsidiary companies or other companies within a group of companies

Budget constraints? Get in touch with us for special pricing

Request Discount

Our Market Research Reports Include:

  • Market snapshot
  • Market Segmentation
  • Value Chain Analysis
  • Growth Dynamics
  • Potential Market Opportunities
  • Regulatory Overview
  • Technology Evolution
  • Innovation & Sustainability