ELECTRICAL STEEL MARKET ANALYSIS

Electrical Steel Market, by Type (Grain-oriented (Hi-Permeability (HiB), Conventional GOES, Laser magnetic domain refinement (LMDR)), Non-grain oriented (Fully Processed, Semi Processed)), by Application (Transformer (Distribution, Transmission, Portable), Motors (1hp - 100hp, 101hp – 200hp, 201hp – 500hp, 501hp-1000hp, Above 1001hp), Inductors), and by Region (North America, Latin America, Europe, Asia-pacific, Middle East & Africa)

Published In : Jun 2023
Code : CMI3961
Pages :150
Formats :
Excel and PDF
Industry : Advanced Materials

Market News

Electric Steel Market: Recent Developments

In May 2021, JFE Steel Corporation and JSW Steel Limited (JSW) agreed to explore the possibility of forming a joint venture company in India to produce and sell grain-oriented electrical steel sheets.

In November 2020, Nippon Steel stated that it would spend about US$ 1 Billion to enhance its electrical steel sheet operations at two sites in Japan. In the first half of 2023, after a number of steps to boost capacity and quality go into full effect, production capacity is projected to rise by almost 40%.

March 2021, ArcelorMittal's Saint Chély d'Apcher, France factory, which produces iCARe electrical steels for the automobile industry, received an investment of €13 Billion. By modernizing production to satisfy the needs of the growing electro-mobility market, the factory will be able to produce state-of-the-art non-grain-oriented (NO) iCARe electrical steel grades thanks to the investment.

In May of 2021, JFE Steel Corporation and JSW Steel Limited (JSW) agreed to work together on a feasibility study for establishing a joint venture company in India dedicated to the manufacturing and marketing of grain-oriented electrical steel sheets.