Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Silicon Steel Market by Type (Oriented Electrical Steel, Non-Grain Oriented Electrical Steel), By Application (Automotive, Construction, Home Appliance, Machinery, Other) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Silicon Steel Market by Type (Oriented Electrical Steel, Non-Grain Oriented Electrical Steel), By Application (Automotive, Construction, Home Appliance, Machinery, Other) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 134969 3300 Chemical & Material 377 235 Pages 5 (49)
                                          

Market Overview:


The global silicon steel market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for silicon steel from various end-use industries, such as automotive, construction, home appliance, machinery and others. Silicon steel is used in a wide range of applications owing to its excellent properties such as high strength-to-weight ratio, good formability and weldability. In addition, it also has low electrical resistance and helps in reducing power losses in electrical equipment. These factors are expected to drive the demand for silicon steel over the forecast period. Based on type, non-grain oriented electrical steel is projected to account for a larger share of the global silicon steel market during the forecast period from 2018 to 2030. Non-grain oriented electrical steels are mainly used in transformers owing their better magnetic properties as compared with grain oriented steels.


Global Silicon Steel Industry Outlook


Product Definition:


Silicon steel is a type of steel that contains silicon in its alloy. This addition to the alloy makes the steel more resistant to rust and corrosion, as well as making it softer and more malleable than other types of steel. Silicon steel is often used in the production of electrical wiring, as it does not corrode easily and can handle high voltages without breaking.


Oriented Electrical Steel:


Oriented electrical steel is a type of silicon-based alloy which consists of manganese, nickel and iron. It has the composition of about 68% silicon, 16% carbon and 12% iron. Oriented electrical steel has high permeability to electricity; it can be easily drawn out into wires by applying an electric current. This property makes it suitable for making wire insulations in power plants and other applications where high insulation resistance is required.


Non-Grain Oriented Electrical Steel:


Non-grain oriented electrical steel is a type of silicon steel that contains less than 15% carbon and more than 75% iron. It has high electrical resistance and can be used in applications where grain oriented products failed or could not be used.


Application Insights:


Automotive was the largest application segment in 2017 and accounted for a market share of over 30% in terms of revenue. The rising demand for lightweight materials with high strength has resulted in an increased use of silicon steel products. Automotive applications include engine, transmission components, body structure, and others such as beams, sheets & bars, structural parts & panels.


The home appliances segment is expected to witness the fastest growth rate over the forecast period owing to increasing demand from Asia Pacific region where costomers prefer affordable products with premium quality features at a reasonable price range. Consumers are focusing on purchasing energy efficient appliances that consume low power levels thereby supporting the product demand across various end-use industries globally.


Regional Analysis:


Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to rising product demand from key applications including automotive, construction, machinery, and others. China is one of the largest producers as well as consumers of steel in this region owing to its large manufacturing sector.


The country has been witnessing strong economic growth on account of increasing foreign investments coupled with a rebounding housing sector since 2015. In addition, robust industrial production numbers have contributed significantly toward regional GDPs along with high domestic consumption for infrastructure development across major cities such as Shanghai and Beijing thus far during 2018-19 fiscal year (July 2019).


Growth Factors:


  • Increasing demand from the automotive and electrical industries for silicon steel in order to improve performance and efficiency.
  • Growing demand for silicon steel in renewable energy applications, such as wind turbines and solar panels, due to its superior strength and light weight.
  • Rising production of consumer electronics, such as smartphones and tablets, which require high-quality silicon steel components for their internal circuitry.
  • Increasing use of silicon steel in construction projects as a result of its superior strength-to-weight ratio compared to traditional materials like concrete or metal alloys.

Scope Of The Report

Report Attributes

Report Details

Report Title

Silicon Steel Market Research Report

By Type

Oriented Electrical Steel, Non-Grain Oriented Electrical Steel

By Application

Automotive, Construction, Home Appliance, Machinery, Other

By Companies

POSCO, Tata Steel, Nippon Steel & Sumitomo Metal, ArcelorMittal, Shougang, Hyundai Steel, Ansteel Group, China Baowu Steel Group, JFE Steel Corporation, Benxi Steel Group, Hesteel Group, United States Steel Corporation, Nucor Corporation, China Steel Corporation, Shagang Group, Steel Authority of India Limited, NLMK Group, Maanshan Steel, ThyssenKrupp, JSW Steel Ltd, Valin Steel Group

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year

2021

Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year

2030

Number of Pages

235

Number of Tables & Figures

165

Customization Available

Yes, the report can be customized as per your need.


Global Silicon Steel Market Report Segments:

The global Silicon Steel market is segmented on the basis of:

Types

Oriented Electrical Steel, Non-Grain Oriented Electrical Steel

The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.

Applications

Automotive, Construction, Home Appliance, Machinery, Other

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

  1. POSCO
  2. Tata Steel
  3. Nippon Steel & Sumitomo Metal
  4. ArcelorMittal
  5. Shougang
  6. Hyundai Steel
  7. Ansteel Group
  8. China Baowu Steel Group
  9. JFE Steel Corporation
  10. Benxi Steel Group
  11. Hesteel Group
  12. United States Steel Corporation
  13. Nucor Corporation
  14. China Steel Corporation
  15. Shagang Group
  16. Steel Authority of India Limited
  17. NLMK Group
  18. Maanshan Steel
  19. ThyssenKrupp
  20. JSW Steel Ltd
  21. Valin Steel Group

Global Silicon Steel Market Overview


Highlights of The Silicon Steel Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Oriented Electrical Steel
    2. Non-Grain Oriented Electrical Steel
  1. By Application:

    1. Automotive
    2. Construction
    3. Home Appliance
    4. Machinery
    5. Other
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Silicon Steel Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Global Silicon Steel Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?


Silicon steel is a type of steel that contains silicon. Silicon steel is stronger than regular steel, but it is also more brittle. This makes it less ideal for use in things like tools and weapons, but it makes it a good choice for things like construction materials and cars.

Some of the key players operating in the silicon steel market are POSCO, Tata Steel, Nippon Steel & Sumitomo Metal, ArcelorMittal, Shougang, Hyundai Steel, Ansteel Group, China Baowu Steel Group, JFE Steel Corporation, Benxi Steel Group, Hesteel Group, United States Steel Corporation, Nucor Corporation, China Steel Corporation, Shagang Group, Steel Authority of India Limited, NLMK Group, Maanshan Steel, ThyssenKrupp, JSW Steel Ltd, Valin Steel Group.

The silicon steel market is expected to grow at a compound annual growth rate of 5.5%.

                                            
1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Silicon Steel Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Silicon Steel Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Silicon Steel Market - Supply Chain
   4.5. Global Silicon Steel Market Forecast
      4.5.1. Silicon Steel Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Silicon Steel Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Silicon Steel Market Absolute $ Opportunity

5. Global Silicon Steel Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Silicon Steel Market Size and Volume Forecast by Type
      5.3.1. Oriented Electrical Steel
      5.3.2. Non-Grain Oriented Electrical Steel
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Silicon Steel Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Silicon Steel Market Size and Volume Forecast by Application
      6.3.1. Automotive
      6.3.2. Construction
      6.3.3. Home Appliance
      6.3.4. Machinery
      6.3.5. Other
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Silicon Steel Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Silicon Steel Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Silicon Steel Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Silicon Steel Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Silicon Steel Demand Share Forecast, 2019-2029

9. North America Silicon Steel Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Silicon Steel Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Silicon Steel Market Size and Volume Forecast by Application
      9.4.1. Automotive
      9.4.2. Construction
      9.4.3. Home Appliance
      9.4.4. Machinery
      9.4.5. Other
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Silicon Steel Market Size and Volume Forecast by Type
      9.7.1. Oriented Electrical Steel
      9.7.2. Non-Grain Oriented Electrical Steel
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Silicon Steel Demand Share Forecast, 2019-2029

10. Latin America Silicon Steel Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Silicon Steel Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Silicon Steel Market Size and Volume Forecast by Application
      10.4.1. Automotive
      10.4.2. Construction
      10.4.3. Home Appliance
      10.4.4. Machinery
      10.4.5. Other
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Silicon Steel Market Size and Volume Forecast by Type
      10.7.1. Oriented Electrical Steel
      10.7.2. Non-Grain Oriented Electrical Steel
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Silicon Steel Demand Share Forecast, 2019-2029

11. Europe Silicon Steel Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Silicon Steel Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Silicon Steel Market Size and Volume Forecast by Application
      11.4.1. Automotive
      11.4.2. Construction
      11.4.3. Home Appliance
      11.4.4. Machinery
      11.4.5. Other
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Silicon Steel Market Size and Volume Forecast by Type
      11.7.1. Oriented Electrical Steel
      11.7.2. Non-Grain Oriented Electrical Steel
   11.8. Basis Point Share (BPS) Analysis by Type
   11.9. Y-o-Y Growth Projections by Type
   11.10. Market Attractiveness/Growth Potential Analysis
      11.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Silicon Steel Demand Share, 2019-2029

12. Asia Pacific Silicon Steel Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Silicon Steel Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Silicon Steel Market Size and Volume Forecast by Application
      12.4.1. Automotive
      12.4.2. Construction
      12.4.3. Home Appliance
      12.4.4. Machinery
      12.4.5. Other
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Silicon Steel Market Size and Volume Forecast by Type
      12.7.1. Oriented Electrical Steel
      12.7.2. Non-Grain Oriented Electrical Steel
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Silicon Steel Demand Share, 2019-2029

13. Middle East & Africa Silicon Steel Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Silicon Steel Market Size and Volume Forecast by Country
      13.2.1. Saudi Arabia
      13.2.2. South Africa
      13.2.3. UAE
      13.2.4. Rest of Middle East & Africa (MEA)
   13.3. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Silicon Steel Market Size and Volume Forecast by Application
      13.4.1. Automotive
      13.4.2. Construction
      13.4.3. Home Appliance
      13.4.4. Machinery
      13.4.5. Other
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Silicon Steel Market Size and Volume Forecast by Type
      13.7.1. Oriented Electrical Steel
      13.7.2. Non-Grain Oriented Electrical Steel
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Silicon Steel Demand Share, 2019-2029

14. Competition Landscape
   14.1. Global Silicon Steel Market: Market Share Analysis
   14.2. Silicon Steel Distributors and Customers
   14.3. Silicon Steel Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. POSCO
         14.4.1.1. Overview
         14.4.1.2. Financials
         14.4.1.3. Developments
         14.4.1.4. Strategic Outlook
      14.4.2. Tata Steel
         14.4.2.1. Overview
         14.4.2.2. Financials
         14.4.2.3. Developments
         14.4.2.4. Strategic Outlook
      14.4.3. Nippon Steel & Sumitomo Metal
         14.4.3.1. Overview
         14.4.3.2. Financials
         14.4.3.3. Developments
         14.4.3.4. Strategic Outlook
      14.4.4. ArcelorMittal
         14.4.4.1. Overview
         14.4.4.2. Financials
         14.4.4.3. Developments
         14.4.4.4. Strategic Outlook
      14.4.5. Shougang
         14.4.5.1. Overview
         14.4.5.2. Financials
         14.4.5.3. Developments
         14.4.5.4. Strategic Outlook
      14.4.6. Hyundai Steel
         14.4.6.1. Overview
         14.4.6.2. Financials
         14.4.6.3. Developments
         14.4.6.4. Strategic Outlook
      14.4.7. Ansteel Group
         14.4.7.1. Overview
         14.4.7.2. Financials
         14.4.7.3. Developments
         14.4.7.4. Strategic Outlook
      14.4.8. China Baowu Steel Group
         14.4.8.1. Overview
         14.4.8.2. Financials
         14.4.8.3. Developments
         14.4.8.4. Strategic Outlook
      14.4.9. JFE Steel Corporation
         14.4.9.1. Overview
         14.4.9.2. Financials
         14.4.9.3. Developments
         14.4.9.4. Strategic Outlook
      14.4.10. Benxi Steel Group
         14.4.10.1. Overview
         14.4.10.2. Financials
         14.4.10.3. Developments
         14.4.10.4. Strategic Outlook
      14.4.11. Hesteel Group
         14.4.11.1. Overview
         14.4.11.2. Financials
         14.4.11.3. Developments
         14.4.11.4. Strategic Outlook
      14.4.12. United States Steel Corporation
         14.4.12.1. Overview
         14.4.12.2. Financials
         14.4.12.3. Developments
         14.4.12.4. Strategic Outlook
      14.4.13. Nucor Corporation
         14.4.13.1. Overview
         14.4.13.2. Financials
         14.4.13.3. Developments
         14.4.13.4. Strategic Outlook
      14.4.14. China Steel Corporation
         14.4.14.1. Overview
         14.4.14.2. Financials
         14.4.14.3. Developments
         14.4.14.4. Strategic Outlook
      14.4.15. Shagang Group
         14.4.15.1. Overview
         14.4.15.2. Financials
         14.4.15.3. Developments
         14.4.15.4. Strategic Outlook
      14.4.16. Steel Authority of India Limited
         14.4.16.1. Overview
         14.4.16.2. Financials
         14.4.16.3. Developments
         14.4.16.4. Strategic Outlook
      14.4.17. NLMK Group
         14.4.17.1. Overview
         14.4.17.2. Financials
         14.4.17.3. Developments
         14.4.17.4. Strategic Outlook
      14.4.18. Maanshan Steel
         14.4.18.1. Overview
         14.4.18.2. Financials
         14.4.18.3. Developments
         14.4.18.4. Strategic Outlook
      14.4.19. ThyssenKrupp
         14.4.19.1. Overview
         14.4.19.2. Financials
         14.4.19.3. Developments
         14.4.19.4. Strategic Outlook
      14.4.20. JSW Steel Ltd
         14.4.20.1. Overview
         14.4.20.2. Financials
         14.4.20.3. Developments
         14.4.20.4. Strategic Outlook

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