Press release
Electrical Steel Coatings Market is Estimated to Reach USD 366.27 Million by the end of 2028: Cognitive Market Research
Electrical Steel Coatings Market is Estimated to Reach USD 366.27 Million by the end of 2028: Cognitive Market Research
Electrical steel is also referred to as silicon steel because silicon is the primary addicting ingredient. Electrical steel coatings are pigmented coatings that insulate motor and generator silicon steel sheets. A material that can be magnetized and demagnetized is required to assure the efficiency of motors or generators. This condition is completely met by electrical steel.
In transformers, generators, and motors, electrical steel is commonly utilized. There are two types of electrical steels: grain-oriented and non-oriented electrical steels. Grain-oriented electrical steel (GOES) is a kind of cold-rolled electrical steel that contains 3% silicon and is used in the core of transformers. Non-oriented electrical steel has a cubic texture, which is commonly used in motors and generators.
Electrical steel coatings are done in the form of lamination, sheet, wrap, and others. This coating is widely used in automobile electrification. Hence, with the rising electric vehicle industry, there is high demand for electrical steel coatings.
Market Insight:
• Global Electrical Steel Coatings Market expected to reach USD 366.27 Million by the end of 2028, growing at a CAGR of 5.16% between 2021 and 2028.
• Chrome free Revenue is estimated to reach at USD 288.49 Million in 2028
To know more The Electrical Steel Coatings Market Insight click here: https://www.cognitivemarketresearch.com/electrical-steel-coatings-market-report
Market Drivers:
• Increasing industrialization and manufacturing, especially in developing countries
One of the important factors that help to grow the developing countries is industrialization. Industrialization of developing countries involves the global shifting of environmentally destructive industries from developed to developing countries. There are some factors which supports the market to increase the growth ratio. Among them one factor is geographical region which plays the important role for any market growth. Developing countries, also known as the emerging markets, are creating huge opportunities for the global growth.
Power and distribution transformers play a vital role in the industrial sector such as automobile industry, electrochemical industry, teel manufacturing industry etc. It ensures appropriate, safe and careful usage of power supply and eliminate unnecessary power issues. Moreover, the increasing demand for renewable energy and efficient transformers and high-performance generators is also creating the corridor for the electrical steel strip.
The electrical steel coatings are the substances/pigments which provide the insulation and also ensure the efficiency of transformer, motors or generators. It also helps to serve to lengthen the shelf-life products. Hence, growing industrialization is driving the growth of electrical steel coatings market.
Increasing demand for the consumer and medical appliances and devices
• Restraints for Electrical Steel Coatings Market
Shortage of raw material and price volatility
• Opportunities for Electrical Steel Coatings Market
Growing trend of automotive electrification
Cognitive Market Research Company's Research Methodology - https://www.cognitivemarketresearch.com/research-methodology
Market Segmentation:
Product:
• Chrome free
The chromium-free coating is a one-component coating that can be diluted with water. This coating offers superior corrosion resistance, interlayer electrical resistance, substrate adhesion, and resistance to cutting-edge rusting. The newly developed Chrome-free coatings C6N8-G and C6NM have increased performance.
• Chrome containing
For decades, a chrome-containing electrical steel coating has been the standard. Cr-containing coatings remain the most used electric steel coatings because of their excellent corrosion-inhibiting and self-healing properties.
• Formaldehyde free
• MgO
Application:
Transformer
Transformer components are made of electrical steel. Grain-oriented electrical steel (GOES) is a type of cold-rolled electrical steel coating used in the core of transformers. Electrical steel is the fundamental core material of distribution transformers, power transformers, and miniature transformers in the form of laminated, wrapped or punched sheets. Electrical steel coatings in transformers assist to minimize energy consumption and greenhouse gas emissions.
• Motor
Non-oriented electrical steel (NO) is a popular motor core material because it is cost-effective and fits the demands of high-efficiency, high-power motors. Electrical steel coatings are pigmented coatings that insulate motors' silicon steel sheets. They assist in minimizing eddy current and energy loss in magnetic cores by raising the resistance between laminates, and they help to enhance the electrical efficiency of electrical motors after they are applied.
• Others
Get free sample pages of latest published Electrical Steel Coatings Market Report: https://www.cognitivemarketresearch.com/electrical-steel-coatings-market-report
Competitive Analysis for Electrical Steel Coatings Market:
Axalta Coating Systems, Thyssenkrupp, Rembrandtin Lack GmbH, AK Steel Holding Corporation, Cogent Power Limited, Chemetall, ArcelorMittal, JFE Steel Corporation, Filtra Catalysts and Chemicals, Polaris Laser Lamination, Wuhan Iron & Steel, Proto Laminations
• Axalta Coating Systems
Axalta Coating System specializes in offering energy and coating solution in the market. The company has wide range product portfolio, which includes wire enamels, impregnating resin, electrical steel coating. These products are used as insulation materials for motors, transformer and other products.
NEWS:
March 2021
• Axalta has engaged in partnership with Anhui Shengran Insulating Materials Co. Ltd.
Axalta has engaged in partnership with Anhui Shengran Insulating Materials Co. Ltd to expand its energy solution product portfolio in the market and accelerated the value of technological solution, coating and other.
• Thyssenkrupp Steel Europe AG
ThyssenKrupp Europe is engaged in the manufacturing of high-tech steel products used for coating and processing application. The company built modern facilities for production of portfolio. The products included in the portfolio are blue mint, hot strip, precision strip, electrical steel strips, packaging steel, sheet or coated products, composite, and byproducts. Additionally, the company is known for supplying its carbon steel product line across several regions.
Related Report:
• Electrical Steel Sheets Market- https://www.cognitivemarketresearch.com/electrical-steel-sheets-market-report
• Grain Oriented Electrical Steel Market- https://www.cognitivemarketresearch.com/grain-oriented-electrical-steel-market-report
• Cold Rolled Electrical Steel- https://www.cognitivemarketresearch.com/cold-rolled-electrical-steel-market-report
• Silicon Electrical Steel Market- https://www.cognitivemarketresearch.com/silicon-electrical-steel-market-report
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
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About Cognitive Market Research:
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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