Europe Electrical Steel Market, By Product Type (Grain Oriented Electrical Steel, Non-Grain Oriented Electrical Steel), Application (Inductors, Motors, Transformers), Thickness (0.23 mm, 0.27 mm, 0.30 mm, 0.35 mm, 0.5 mm, 0.65 mm, Others), Core Losses (Less Than 0.9 w/kg, 90 w/kg to 0.99 w/kg, 1.00 w/kg to 1.29 w/kg, 1.30 w/kg to 1.39 w/kg and Above 1.39 w/kg), Flux Density (Less Than 1.65 Tesla, 1.65 Tesla to 1.69 Tesla, 1.69 Tesla to 1.73 Tesla, 1.73 Tesla to 1.76 Tesla and Above 1.76 Tesla), End User (Automotive, Manufacturing, Energy, Household Appliance, Construction, Fabrication) – Industry Trends and Forecast to 2029.
Europe Electrical Steel Market Analysis and Size
The rising demands for electrical steel across major sectors is the vital factor boosting the growth of the market over the forecasted period of 2022-2029. For instance, in 2021, revenue in electrical steel market's energy sector increased quickly. Moreover, the rise in non-grain electrical steel segment and the construction of thermal power plants are also the factors boosting the growth of the market over the forecasted period.
The global electrical steel market was valued at USD 3.20 billion in 2021 and is expected to reach USD 4.99 billion by 2029, registering a CAGR of 5.70% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Europe Electrical Steel Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Grain Oriented Electrical Steel, Non-Grain Oriented Electrical Steel), Application (Inductors, Motors, Transformers), Thickness (0.23 mm, 0.27 mm, 0.30 mm, 0.35 mm, 0.5 mm, 0.65 mm, Others), Core Losses (Less Than 0.9 w/kg, 90 w/kg to 0.99 w/kg, 1.00 w/kg to 1.29 w/kg, 1.30 w/kg to 1.39 w/kg and Above 1.39 w/kg), Flux Density (Less Than 1.65 Tesla, 1.65 Tesla to 1.69 Tesla, 1.69 Tesla to 1.73 Tesla, 1.73 Tesla to 1.76 Tesla and Above 1.76 Tesla), End User (Automotive, Manufacturing, Energy, Household Appliance, Construction, Fabrication)
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Countries Covered
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Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe
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Market Players Covered
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Akzo Nobel N.V. (Netherlands), PPG Industries Inc., (U.S.), The Sherwin-Williams Company (U.S.), RPM International Inc., (U.S.), NIPSEA GROUP (Japan), Arkema (France), Cardolite Corporation (U.S.), BASF SE (Germany), Evonik Industries AG (Germany), Reichhold LLC 2, (U.S.), DSM (Netherlands), Qualipoly Chemical Corp. (Taiwan), Arakawa Chemical Industries,Ltd. (Japan), Alberdingk Boley (U.S.), Eternal Materials Co.,Ltd. (Taiwan), Wacker Chemie AG (Japan) and DIC CORPORATION (Japan)
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Market Opportunities
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Market Definition
Electrical steel is a magnetic material with enhanced electrical properties and is widely used across applications such as small relays, solenoids, electric motors, generators and other electromagnetic devices. They can decrease the dissipation of heat, an issue that results in energy wastage. They are actively being used in the interior decoration and can be folded and painted easily. They have a wide range of applications in batteries and home appliances as well.
Europe Electrical Steel Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High usage for construction purposes
Aluminum coatings are extensively used across construction industries. They are widely used in the building and construction sector to set the electric flow of current from the grid to domestic places through electrical steel rods, increasing its demands in developing regions. The expansion of end-use industries, coupled with the increase in urbanization and population, will further propel the growth rate of the electrical steel market.
Opportunities
- Rising benefits of electrical steel
Electrical steel is a soft magnetic material with enhanced electrical properties that create certain lucrative growth opportunities over the forecasted period. Electrical steel is widely used across applications such as small relays, solenoids, electric motors, generators, and other electromagnetic devices. They are also silicon or lamination steel and are mainly used in the construction or automotive sectors. The most widely used commercially available electrical steel contains about 3.25% Si as higher silicon content, proving to be an improved solution for enhanced magnetic and electrical properties. These latest technological innovations and developments will further expand the market's future growth.
Restraints/Challenges
- Fluctuations in raw material prices
The inconsistent raw material prices have a direct negative impact on the overall market's growth. The rising prices of steel have majorly negatively impacted the market. As a result, these fluctuations will pose a major challenge to the aluminum coatings market growth rate.
This electrical steel market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the electrical steel market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Electrical Steel Market
The recent outbreak of coronavirus harmed the electrical steel market. The market faced disruption in supply chains, lesser availability of workforce, fluctuations in prices, and availability of raw materials, which hampered the market largely. However, with the gradual upliftment of restriction and restoration of business operations, the steel industry is expected to grow steadily. Also, the market is estimated to revive as individual regulatory bodies relax these enforced lockdowns. The suspended and canceled operations will continue, and the market is estimated to expand
Recent Developments
- In 2021, JFE Steel Corporation signed a memorandum with JSW Steel Limited (JSW) to perform a feasibility study to develop a grain-oriented electrical steel sheet production and sales joint-venture firm in India.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Europe Electrical Steel Market Scope
The electrical steel market is segmented on the basis of product type, application, thickness, core losses, flux density and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Grain Oriented Electrical Steel
- Non-Grain Oriented Electrical Steel
- Fully Processed
- Semi-Processed
Application
- Inductors
- Motors
- 1 HP – 100 HP
- 101 HP – 200 HP
- 201 HP – 500 HP
- 501 HP – 1000 HP
- Above 1000 HP
- Transformers
- Transmission
- Portable
- Distribution
Thickness
- 0.23 mm
- 0.27 mm
- 0.30 mm
- 0.35 mm
- 0.5 mm
- 0.65 mm
- Others
Core Losses
- Less Than 0.9 w/kg
- 90 w/kg to 0.99 w/kg
- w/kg to 1.29 w/kg
- 1.30 w/kg to 1.39 w/kg
- Above 1.39 w/kg
Flux Density
- Less Than 1.65 Tesla
- 1.65 Tesla to 1.69 Tesla
- 1.69 Tesla to 1.73 Tesla
- 1.73 Tesla to 1.76 Tesla
- Above 1.76 Tesla
End User
- Automotive
- Manufacturing
- Energy
- Household Appliance
- Construction
- Fabrication
Electrical Steel Market Regional Analysis/Insights
The electrical steel market is analyzed and market size insights and trends are provided by product type, applications, thickness, core losses, flux density and end user as referenced above.
The countries covered in the electrical steel market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.
Germany dominates the market in terms of market share and market revenue and will continue to flourish dominance during the forecast period of 2022-2029. The market growth in this region is attributed to the increasing demand by power generation industries within the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Electrical Steel Market Share Analysis
The electrical steel market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to electrical steel market.
Some of the major players operating in the electrical steel market are
- AkzoNobel N.V. (Netherlands)
- PPG Industries Inc., (U.S.)
- The Sherwin-Williams Company (U.S.)
- RPM International Inc., (U.S.)
- NIPSEA GROUP (Japan)
- Arkema (France)
- Cardolite Corporation (U.S.)
- BASF SE (Germany)
- Evonik Industries AG (Germany)
- Reichhold LLC 2, (U.S.)
- DSM (Netherlands)
- Qualipoly Chemical Corp. (Taiwan)
- Arakawa Chemical Industries,Ltd. (Japan)
- Alberdingk Boley (U.S.)
- Eternal Materials Co.,Ltd. (Taiwan)
- Wacker Chemie AG (Japan)
- DIC CORPORATION (Japan)
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