Electrical Steel Market Is Forecast To Exhibit An Annual Growth Of 6% By The End Of 2031

Global Electrical Steel Industry Current Scenario and Future Outlook

The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The Electrical Steel industry suffered a huge setback due to halted production and a limited supply of raw materials.

With the vaccination process picking up pace in countries like China, India, the U.S., the U.K., and Germany, manufacturers are gradually heading towards the road to recovery with an improved supply chain and streamlined production activities.

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Segmental Overview

By Product Type:

Grain-Oriented Electrical Steel
Non-Grain Oriented Electrical Steel

By Application:

Electric Steel for Inductors
Electric Steel for Motors
Electric Steel for Transformers

By End Use:

Electrical Steel for Automobiles
Electrical Steel for Manufacturing
Electrical Steel for Energy Generation
Electrical Steel for Household Appliances
Electrical Steel for Other End Uses

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Infrastructure Expansion in the U.S. is Fueling Demand for Electrical Steel

The Electrical Steel chemical industry in the U.S. suffered a huge setback due to the coronavirus outbreak in 2022, halting operations in industries such as construction, automotive, and pharmaceutical.


However, with the gradual resumption of production activities and improvements in the supply chain globally, manufacturers operating in the Electrical Steel chemical industry are gearing up to retain the industry's post-pandemic status.


Rising demand for Electrical Steel dispersants from the construction and oil & gas industry is driving the Electrical Steel chemical industry in the U.S. Electrical Steel dispersants are widely used in the construction industry, and the anticipated growth is attributable to the wide expanse of real estate in the country.



Increasing housing infrastructure projects are propelling Electrical Steel dispersant sales, thus augmenting the growth of the Electrical Steel chemical industry. The presence of leading players in the country is also driving sales and export in the Electrical Steel chemical industry.

Competitive Landscape

Prominent manufacturers in the market for electrical steel are leveraging strategic collaborations and partnerships to increase their production capacity and meet the rising demand.

In July 2021, ArcelorMittal invested US$ 25 million in Form Energy as part of its XCarbTM innovation fund. Through this investment, Arcelor will provide raw iron, tailored to specific requirements, to Form Energy for their battery technology, which includes electrical steel.

China Baowu Steel Group Corp is a Chinese state-owned iron and steel business based in Shanghai. It is currently one of the world's largest steel businesses. It manufactures and exports steel goods such as special steel, stainless steel, and carbon steel to over 40 countries.

It is also one of the world's leading steel suppliers to sectors such as automobiles, petrochemicals, nuclear power, home appliances, metallurgy, energy, equipment manufacturing, electronic devices, and astronautics.

U.K is Capitalizing on Electrical Steel Binders for Sustainable Construction Activities

The U.K. has been at the forefront in terms of technological advancements and the adoption of sustainable technology in production globally, which is a key factor augmenting the growth of the Electrical Steel chemical industry.


In 2022, the country suffered huge setbacks due to the adverse effects caused by the COVID-19 pandemic. However, manufacturers operating in the Electrical Steel chemical industry are striving to achieve the pre-pandemic status by opting for various Electrical Steel and inElectrical Steel growth strategies.


In the U.K, the growth of the Electrical Steel industry can be attributed to the surging demand for Electrical Steel binders. The environment-friendly nature, low energy consumption, and cost-effectiveness offered by Electrical Steel binders are key factors leading the sales and demand.

Growing urbanization and rapid increments in infrastructure activities across the country are fueling the demand for Electrical Steel binders, thus creating lucrative opportunities for several players operating in the Electrical Steel chemical industry in the upcoming decade.

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China is Incorporating Electrical Steel Pigments in Textiles and Visual Arts

The global hub for the Electrical Steel chemical industry, China, is picking up pace in its post-covid recovery, due to the timely eradication of the virus. With little to no restrictions, most production-related activities have resumed across the country, acting as anchors for various local and global manufacturers.


China is a lucrative ground for the Electrical Steel industry due to the presence of leading manufacturers and several industries such as textile, pharmaceutical, plastic, and paint. Due to the abundance of these industries, the demand for Electrical Steel pigments is also gaining immense traction in China.

Electrical Steel pigments are non-toxic, cost-effective, and offer good color strength, making them a favorable choice for usage in various end-use sectors. Increasing the use of Electrical Steel pigments in plastics, textiles, paints, and coatings will continue driving the growth in the Electrical Steel industry.

Additionally, the wide range of unique shades available in Electrical Steel pigments makes them a preferred choice for visual arts as well. The consumption of Electrical Steel pigments in high-tech applications such as photo-reprographics, optoelectronic displays, and optical data storage are fueling the demand for Electrical Steel pigments and creating lucrative opportunities for players operating in the Electrical Steel industry.

India Will Showcase High Demand for Speciality Electrical Steel

India is emerging as a lucrative market for the Electrical Steel chemical industries for players across the world. With gradual resumptions in the restrictions on movement, the country is slowly getting back on track to achieve post-pandemic status in the coming years.


The Electrical Steel industry in India is capitalizing on various sectors such as paints, pharmaceuticals, adhesives, pesticides, and dyes, making it one of the most important industries in the country.

Leading players operating in the Electrical Steel industry are focusing on enhancing their product portfolio by adding specialty chemicals such as polymer additives, water treatment chemicals, and lubricating additives, which will further drive growth and sales in the industry in the upcoming decade.

The newly discovered natural gas reserves in the country will also enable manufacturers to procure diverse Electrical Steel and will continue augmenting the growth of the Electrical Steel chemical industry.

Key Long-Term Trends

The global Electrical Steel industry is gradually recovering in 2021 and is expected to gain momentum in the upcoming years. With a noteworthy surge in activities in industries such as infrastructure, construction, pharmaceutical, and oil & gas, the Electrical Steel industry will show an upward trend in the coming years. Some new trends that are augmenting the market growth are:

Chemoinformatic
The Electrical Steel industry will largely benefit from chemoinformatic due to various factors such as the ease of evaluating specific properties of large compounds. The use of computational and informational techniques will help manufacturers gain insights into the new and existing chemicals and how to incorporate them into Electrical Steel chemical products.

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This release was published on openPR.