Electrical Steel Market Insights, Trends and Forecast up to 2025
Electrical steel, also known as iron-silicon alloy, is used to provide high permeability for economical and efficient functioning of electrical transformers. It is available in different grades such as M-2, M-3, M-4, M-5, and M-6. It is usually developed in cold rolled strips with thickness of less than 2 mm. Electrical steel plays an important role in transmission, generation, and distribution of electrical power. It is an alloy that contains silicon (Si:5Fe) from zero to 6.5%, while commercial alloys typically have silicon content of about 3.2%. Silicon increases the electrical resistance of the steel, which narrows the hysteresis loop of the material and decreases the induced eddy currents.
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Electrical steel increases electrical resistance between laminations and provides resistance to corrosion or rust. It also reduces eddy currents and acts as lubricant during die cutting. Electrical steel can also be used as various coatings (organic and inorganic), depending upon the application of the steel. Electrical steel is costlier than mild steel. This can be one of the restraints of electrical steel over mild steel. The magnetic affect in electrical steel can be mitigated by engraving the surface of the sheet mechanically or with a laser.
The global electrical steel market can be segmented based on type, application, end-use, and geography. Based on type, the market can be divided into grain-oriented electrical steel, pole sheet electrical steel, and non-oriented electrical steel. Non-oriented electrical steel is further sub-segmented into non-oriented semi-processed electrical steel and non-oriented fully processed electrical steel. Grain-oriented electrical steel is a vital material used in the manufacture of high performance generators and energy-efficient transformers. Grain-oriented electrical steel provides enhanced magnetic properties in the rolling direction of the sheet. Non-oriented electrical steel is used in the manufacture of rotating machines of various sizes. It is also used in small transformers and different electromagnetic applications for size between 0.10 mm and 1.00 mm thickness.
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Based on application, the electrical steel market can be split into transformers, generators, motors with the energy transport and transmission networks and other small size units for the industrial machines, household appliances, and automotive sector. Transformers is a key application segment of the electrical steel market due to the increase in demand for energy across the globe. This is expected to drive the transformers segment during the forecast period. Furthermore, the need for upgrading distribution networks and transmission equipment is likely to boost the transformers segment. Based on end-use industry, the market can be divided into energy, manufacturing, automobiles, household appliances, and others (including construction and fabrication). Rise in industrialization in developing and developed economies is also anticipated to drive the energy segment in the Asia Pacific region. This is projected to boost the electrical steel market.
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