Global Electrical Steel Sheet Varnish Market Set for 6.4% CAGR Growth, Targeting USD 984 Million by 2031

LOS ANGELES, United States: The report is a fine example of comprehensive and accurate research study on the global Electrical Steel Sheet Varnish market. It digs deep into critical aspects of the global Electrical Steel Sheet Varnish market, including market dynamics, competition, regional advancement, and segmentation. It provides verified market figures such as CAGR, market share, revenue, volume, production, consumption, gross margin, and price. The global Electrical Steel Sheet Varnish market is segmented by type, application, and geography. The report is compiled with the use of latest primary and secondary research methodologies and tools. Buyers can ask for customization of the report as per their needs. You can also purchase specific sections of the report if your requirement is not for the complete research study.

The global market for Electrical Steel Sheet Varnish was estimated to be worth US$ 632 million in 2024 and is forecast to a readjusted size of US$ 984 million by 2031 with a CAGR of 6.4% during the forecast period 2025-2031.

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The electrical steel sheet varnish market is poised for significant evolution in 2025, driven by surging demand for energy-efficient electrical equipment and stringent environmental regulations. This specialized coating, critical for reducing core losses in transformers, motors, and generators, is gaining traction as industries prioritize sustainability and performance. With the global electrical steel market projected to grow at a 6.5% CAGR from 2024 to 2032, the varnish segment is a key enabler, enhancing magnetic properties and durability.

A major catalyst is the booming electric vehicle (EV) sector, which relies on high-efficiency motors coated with advanced varnishes. In 2025, EV production is expected to rise by 20% globally, amplifying demand for electrical steel sheet varnish. Renewable energy projects, particularly wind and solar, further fuel this trend, as governments push for net-zero targets. For instance, the EU's Green Deal and China's carbon neutrality goals are spurring investments in grid expansion, where varnished electrical steel is indispensable.

The electrical steel sheet varnish market in 2025 is not without risks. Economic uncertainties and geopolitical tensions could disrupt supply chains, while competition from composite materials threatens traditional steel's dominance. Still, the market's trajectory is upward, fueled by innovation, policy support, and user demand for efficiency.

Competitive Analysis

The report sheds light on key trends of the competitive landscape and explores go-to-market strategies adopted by leading companies operating in the global Electrical Steel Sheet Varnish market. The authors of the report have examined the competitiveness of some of the prominent names of the Electrical Steel Sheet Varnish industry. As part of their extensive research, the authors have analyzed almost all business tactics of market leaders, which include contracts, affiliations, mergers and acquisitions, increasing market presence, and geographical expansion. Readers can become aware of the specifications of products and services offered by top players of the global Electrical Steel Sheet Varnish market. In addition, they will be able to study about their competitors and global market presence.

Details of Electrical Steel Sheet Varnish Market Segmentation: -

Segment by Key Manufacturers:

KANSAI HELIOS Austria
Beckers Group
Voltatex(Axalta)
thyssenkrupp Steel
Waelzholz
Quaker Houghton
ELANTAS Beck (ALTANA)
JYOTI ENTERPRISE
Korona Group
Suzhou Jufeng Electrical Insulation System
Jiangmen Xinhui District Xinrixu Electronic Materials
Jiangsu Huarong Insulation Materials
XJ INSULATION MATERIALS
Guangzhou Faith
Xi'an Xidian Electrical Materials
Jiaxing Qinghe Gaoli Insulation

Segment by Type

C3
C5
C6
Others

Segment by Application

Transformer
Electric Vehicle
Industrial
Others

Our impartial and unbiased approach toward market research is one of the major benefits offered with this research study. While internal analysis holds great importance in market research, secondary research helps guide changes during the preparation of a research report. We don't simply take the word of third parties; we always look for justification and validation before using their data or information in our research study. We have attempted to give a holistic view of the global Electrical Steel Sheet Varnish market and benchmark almost all-important players of the industry, not just the prominent ones. As we focus on the realities of the global Electrical Steel Sheet Varnish market, be rest assured that you are on the right path to receiving the right information and accurate data.

Report Highlights

1. Comprehensive pricing analysis on the basis of product, application, and regional segments

2. Detailed assessment of the vendor landscape and leading companies to help understand the level of competition in the global Electrical Steel Sheet Varnish market

3. Deep insights about regulatory and investment scenarios of the global Electrical Steel Sheet Varnish market

4. Analysis of market effect factors and their impact on the forecast and outlook of the global Electrical Steel Sheet Varnish market

5. A roadmap of growth opportunities available in the global Electrical Steel Sheet Varnish market with the identification of key factors

6. Exhaustive analysis of various trends of the global Electrical Steel Sheet Varnish market to help identify market developments.

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Table of Contents

1 Market Overview
1.1 Electrical Steel Sheet Varnish Product Introduction
1.2 Global Electrical Steel Sheet Varnish Market Size Forecast
1.2.1 Global Electrical Steel Sheet Varnish Sales Value (2020-2031)
1.2.2 Global Electrical Steel Sheet Varnish Sales Volume (2020-2031)
1.2.3 Global Electrical Steel Sheet Varnish Sales Price (2020-2031)
1.3 Electrical Steel Sheet Varnish Market Trends & Drivers
1.3.1 Electrical Steel Sheet Varnish Industry Trends
1.3.2 Electrical Steel Sheet Varnish Market Drivers & Opportunity
1.3.3 Electrical Steel Sheet Varnish Market Challenges
1.3.4 Electrical Steel Sheet Varnish Market Restraints
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered

2 Competitive Analysis by Company
2.1 Global Electrical Steel Sheet Varnish Players Revenue Ranking (2024)
2.2 Global Electrical Steel Sheet Varnish Revenue by Company (2020-2025)
2.3 Global Electrical Steel Sheet Varnish Players Sales Volume Ranking (2024)
2.4 Global Electrical Steel Sheet Varnish Sales Volume by Company Players (2020-2025)
2.5 Global Electrical Steel Sheet Varnish Average Price by Company (2020-2025)
2.6 Key Manufacturers Electrical Steel Sheet Varnish Manufacturing Base and Headquarters
2.7 Key Manufacturers Electrical Steel Sheet Varnish Product Offered
2.8 Key Manufacturers Time to Begin Mass Production of Electrical Steel Sheet Varnish
2.9 Electrical Steel Sheet Varnish Market Competitive Analysis
2.9.1 Electrical Steel Sheet Varnish Market Concentration Rate (2020-2025)
2.9.2 Global 5 and 10 Largest Manufacturers by Electrical Steel Sheet Varnish Revenue in 2024
2.9.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Electrical Steel Sheet Varnish as of 2024)
2.10 Mergers & Acquisitions, Expansion

3 Segmentation by Type
3.1 Introduction by Type
3.1.1 C3
3.1.2 C5
3.1.3 C6
3.1.4 Others
3.2 Global Electrical Steel Sheet Varnish Sales Value by Type
3.2.1 Global Electrical Steel Sheet Varnish Sales Value by Type (2020 VS 2024 VS 2031)
3.2.2 Global Electrical Steel Sheet Varnish Sales Value, by Type (2020-2031)
3.2.3 Global Electrical Steel Sheet Varnish Sales Value, by Type (%) (2020-2031)
3.3 Global Electrical Steel Sheet Varnish Sales Volume by Type
3.3.1 Global Electrical Steel Sheet Varnish Sales Volume by Type (2020 VS 2024 VS 2031)
3.3.2 Global Electrical Steel Sheet Varnish Sales Volume, by Type (2020-2031)
3.3.3 Global Electrical Steel Sheet Varnish Sales Volume, by Type (%) (2020-2031)
3.4 Global Electrical Steel Sheet Varnish Average Price by Type (2020-2031)

4 Segmentation by Application
4.1 Introduction by Application
4.1.1 Transformer
4.1.2 Electric Vehicle
4.1.3 Industrial
4.1.4 Others
4.2 Global Electrical Steel Sheet Varnish Sales Value by Application
4.2.1 Global Electrical Steel Sheet Varnish Sales Value by Application (2020 VS 2024 VS 2031)
4.2.2 Global Electrical Steel Sheet Varnish Sales Value, by Application (2020-2031)
4.2.3 Global Electrical Steel Sheet Varnish Sales Value, by Application (%) (2020-2031)
4.3 Global Electrical Steel Sheet Varnish Sales Volume by Application
4.3.1 Global Electrical Steel Sheet Varnish Sales Volume by Application (2020 VS 2024 VS 2031)
4.3.2 Global Electrical Steel Sheet Varnish Sales Volume, by Application (2020-2031)
4.3.3 Global Electrical Steel Sheet Varnish Sales Volume, by Application (%) (2020-2031)
4.4 Global Electrical Steel Sheet Varnish Average Price by Application (2020-2031)

5 Segmentation by Region
5.1 Global Electrical Steel Sheet Varnish Sales Value by Region
5.1.1 Global Electrical Steel Sheet Varnish Sales Value by Region: 2020 VS 2024 VS 2031
5.1.2 Global Electrical Steel Sheet Varnish Sales Value by Region (2020-2025)
5.1.3 Global Electrical Steel Sheet Varnish Sales Value by Region (2026-2031)
5.1.4 Global Electrical Steel Sheet Varnish Sales Value by Region (%), (2020-2031)
5.2 Global Electrical Steel Sheet Varnish Sales Volume by Region
5.2.1 Global Electrical Steel Sheet Varnish Sales Volume by Region: 2020 VS 2024 VS 2031
5.2.2 Global Electrical Steel Sheet Varnish Sales Volume by Region (2020-2025)
5.2.3 Global Electrical Steel Sheet Varnish Sales Volume by Region (2026-2031)
5.2.4 Global Electrical Steel Sheet Varnish Sales Volume by Region (%), (2020-2031)
5.3 Global Electrical Steel Sheet Varnish Average Price by Region (2020-2031)
5.4 North America
5.4.1 North America Electrical Steel Sheet Varnish Sales Value, 2020-2031
5.4.2 North America Electrical Steel Sheet Varnish Sales Value by Country (%), 2024 VS 2031
5.5 Europe
5.5.1 Europe Electrical Steel Sheet Varnish Sales Value, 2020-2031
5.5.2 Europe Electrical Steel Sheet Varnish Sales Value by Country (%), 2024 VS 2031
5.6 Asia Pacific
5.6.1 Asia Pacific Electrical Steel Sheet Varnish Sales Value, 2020-2031
5.6.2 Asia Pacific Electrical Steel Sheet Varnish Sales Value by Region (%), 2024 VS 2031
5.7 South America
5.7.1 South America Electrical Steel Sheet Varnish Sales Value, 2020-2031
5.7.2 South America Electrical Steel Sheet Varnish Sales Value by Country (%), 2024 VS 2031
5.8 Middle East & Africa
5.8.1 Middle East & Africa Electrical Steel Sheet Varnish Sales Value, 2020-2031
5.8.2 Middle East & Africa Electrical Steel Sheet Varnish Sales Value by Country (%), 2024 VS 2031

6 Segmentation by Key Countries/Regions
6.1 Key Countries/Regions Electrical Steel Sheet Varnish Sales Value Growth Trends, 2020 VS 2024 VS 2031
6.2 Key Countries/Regions Electrical Steel Sheet Varnish Sales Value and Sales Volume
6.2.1 Key Countries/Regions Electrical Steel Sheet Varnish Sales Value, 2020-2031
6.2.2 Key Countries/Regions Electrical Steel Sheet Varnish Sales Volume, 2020-2031
6.3 United States
6.3.1 United States Electrical Steel Sheet Varnish Sales Value, 2020-2031
6.3.2 United States Electrical Steel Sheet Varnish Sales Value by Type (%), 2024 VS 2031
6.3.3 United States Electrical Steel Sheet Varnish Sales Value by Application, 2024 VS 2031
6.4 Europe
6.4.1 Europe Electrical Steel Sheet Varnish Sales Value, 2020-2031
6.4.2 Europe Electrical Steel Sheet Varnish Sales Value by Type (%), 2024 VS 2031
6.4.3 Europe Electrical Steel Sheet Varnish Sales Value by Application, 2024 VS 2031
6.5 China
6.5.1 China Electrical Steel Sheet Varnish Sales Value, 2020-2031
6.5.2 China Electrical Steel Sheet Varnish Sales Value by Type (%), 2024 VS 2031
6.5.3 China Electrical Steel Sheet Varnish Sales Value by Application, 2024 VS 2031
6.6 Japan
6.6.1 Japan Electrical Steel Sheet Varnish Sales Value, 2020-2031
6.6.2 Japan Electrical Steel Sheet Varnish Sales Value by Type (%), 2024 VS 2031
6.6.3 Japan Electrical Steel Sheet Varnish Sales Value by Application, 2024 VS 2031
6.7 South Korea
6.7.1 South Korea Electrical Steel Sheet Varnish Sales Value, 2020-2031
6.7.2 South Korea Electrical Steel Sheet Varnish Sales Value by Type (%), 2024 VS 2031
6.7.3 South Korea Electrical Steel Sheet Varnish Sales Value by Application, 2024 VS 2031
6.8 Southeast Asia
6.8.1 Southeast Asia Electrical Steel Sheet Varnish Sales Value, 2020-2031
6.8.2 Southeast Asia Electrical Steel Sheet Varnish Sales Value by Type (%), 2024 VS 2031
6.8.3 Southeast Asia Electrical Steel Sheet Varnish Sales Value by Application, 2024 VS 2031
6.9 India
6.9.1 India Electrical Steel Sheet Varnish Sales Value, 2020-2031
6.9.2 India Electrical Steel Sheet Varnish Sales Value by Type (%), 2024 VS 2031
6.9.3 India Electrical Steel Sheet Varnish Sales Value by Application, 2024 VS 2031

7 Company Profiles
7.1 KANSAI HELIOS Austria
7.1.1 KANSAI HELIOS Austria Company Information
7.1.2 KANSAI HELIOS Austria Introduction and Business Overview
7.1.3 KANSAI HELIOS Austria Electrical Steel Sheet Varnish Sales, Revenue, Price and Gross Margin (2020-2025)
7.1.4 KANSAI HELIOS Austria Electrical Steel Sheet Varnish Product Offerings
7.1.5 KANSAI HELIOS Austria Recent Development
7.2 Beckers Group
7.2.1 Beckers Group Company Information
7.2.2 Beckers Group Introduction and Business Overview
7.2.3 Beckers Group Electrical Steel Sheet Varnish Sales, Revenue, Price and Gross Margin (2020-2025)
7.2.4 Beckers Group Electrical Steel Sheet Varnish Product Offerings
7.2.5 Beckers Group Recent Development
7.3 Voltatex(Axalta)
7.3.1 Voltatex(Axalta) Company Information
7.3.2 Voltatex(Axalta) Introduction and Business Overview
7.3.3 Voltatex(Axalta) Electrical Steel Sheet Varnish Sales, Revenue, Price and Gross Margin (2020-2025)
7.3.4 Voltatex(Axalta) Electrical Steel Sheet Varnish Product Offerings
7.3.5 Voltatex(Axalta) Recent Development
7.4 thyssenkrupp Steel
7.4.1 thyssenkrupp Steel Company Information
7.4.2 thyssenkrupp Steel Introduction and Business Overview
7.4.3 thyssenkrupp Steel Electrical Steel Sheet Varnish Sales, Revenue, Price and Gross Margin (2020-2025)
7.4.4 thyssenkrupp Steel Electrical Steel Sheet Varnish Product Offerings
7.4.5 thyssenkrupp Steel Recent Development
7.5 Waelzholz
7.5.1 Waelzholz Company Information
7.5.2 Waelzholz Introduction and Business Overview
7.5.3 Waelzholz Electrical Steel Sheet Varnish Sales, Revenue, Price and Gross Margin (2020-2025)
7.5.4 Waelzholz Electrical Steel Sheet Varnish Product Offerings
7.5.5 Waelzholz Recent Development
7.6 Quaker Houghton
7.6.1 Quaker Houghton Company Information
7.6.2 Quaker Houghton Introduction and Business Overview
7.6.3 Quaker Houghton Electrical Steel Sheet Varnish Sales, Revenue, Price and Gross Margin (2020-2025)
7.6.4 Quaker Houghton Electrical Steel Sheet Varnish Product Offerings
7.6.5 Quaker Houghton Recent Development
7.7 ELANTAS Beck (ALTANA)
7.7.1 ELANTAS Beck (ALTANA) Company Information
7.7.2 ELANTAS Beck (ALTANA) Introduction and Business Overview
7.7.3 ELANTAS Beck (ALTANA) Electrical Steel Sheet Varnish Sales, Revenue, Price and Gross Margin (2020-2025)
7.7.4 ELANTAS Beck (ALTANA) Electrical Steel Sheet Varnish Product Offerings
7.7.5 ELANTAS Beck (ALTANA) Recent Development
7.8 JYOTI ENTERPRISE
7.8.1 JYOTI ENTERPRISE Company Information
7.8.2 JYOTI ENTERPRISE Introduction and Business Overview
7.8.3 JYOTI ENTERPRISE Electrical Steel Sheet Varnish Sales, Revenue, Price and Gross Margin (2020-2025)
7.8.4 JYOTI ENTERPRISE Electrical Steel Sheet Varnish Product Offerings
7.8.5 JYOTI ENTERPRISE Recent Development
7.9 Korona Group
7.9.1 Korona Group Company Information
7.9.2 Korona Group Introduction and Business Overview
7.9.3 Korona Group Electrical Steel Sheet Varnish Sales, Revenue, Price and Gross Margin (2020-2025)
7.9.4 Korona Group Electrical Steel Sheet Varnish Product Offerings
7.9.5 Korona Group Recent Development
7.10 Suzhou Jufeng Electrical Insulation System
7.10.1 Suzhou Jufeng Electrical Insulation System Company Information
7.10.2 Suzhou Jufeng Electrical Insulation System Introduction and Business Overview
7.10.3 Suzhou Jufeng Electrical Insulation System Electrical Steel Sheet Varnish Sales, Revenue, Price and Gross Margin (2020-2025)
7.10.4 Suzhou Jufeng Electrical Insulation System Electrical Steel Sheet Varnish Product Offerings
7.10.5 Suzhou Jufeng Electrical Insulation System Recent Development
7.11 Jiangmen Xinhui District Xinrixu Electronic Materials
7.11.1 Jiangmen Xinhui District Xinrixu Electronic Materials Company Information
7.11.2 Jiangmen Xinhui District Xinrixu Electronic Materials Introduction and Business Overview
7.11.3 Jiangmen Xinhui District Xinrixu Electronic Materials Electrical Steel Sheet Varnish Sales, Revenue, Price and Gross Margin (2020-2025)
7.11.4 Jiangmen Xinhui District Xinrixu Electronic Materials Electrical Steel Sheet Varnish Product Offerings
7.11.5 Jiangmen Xinhui District Xinrixu Electronic Materials Recent Development
7.12 Jiangsu Huarong Insulation Materials
7.12.1 Jiangsu Huarong Insulation Materials Company Information
7.12.2 Jiangsu Huarong Insulation Materials Introduction and Business Overview
7.12.3 Jiangsu Huarong Insulation Materials Electrical Steel Sheet Varnish Sales, Revenue, Price and Gross Margin (2020-2025)
7.12.4 Jiangsu Huarong Insulation Materials Electrical Steel Sheet Varnish Product Offerings
7.12.5 Jiangsu Huarong Insulation Materials Recent Development
7.13 XJ INSULATION MATERIALS
7.13.1 XJ INSULATION MATERIALS Company Information
7.13.2 XJ INSULATION MATERIALS Introduction and Business Overview
7.13.3 XJ INSULATION MATERIALS Electrical Steel Sheet Varnish Sales, Revenue, Price and Gross Margin (2020-2025)
7.13.4 XJ INSULATION MATERIALS Electrical Steel Sheet Varnish Product Offerings
7.13.5 XJ INSULATION MATERIALS Recent Development
7.14 Guangzhou Faith
7.14.1 Guangzhou Faith Company Information
7.14.2 Guangzhou Faith Introduction and Business Overview
7.14.3 Guangzhou Faith Electrical Steel Sheet Varnish Sales, Revenue, Price and Gross Margin (2020-2025)
7.14.4 Guangzhou Faith Electrical Steel Sheet Varnish Product Offerings
7.14.5 Guangzhou Faith Recent Development
7.15 Xi'an Xidian Electrical Materials
7.15.1 Xi'an Xidian Electrical Materials Company Information
7.15.2 Xi'an Xidian Electrical Materials Introduction and Business Overview
7.15.3 Xi'an Xidian Electrical Materials Electrical Steel Sheet Varnish Sales, Revenue, Price and Gross Margin (2020-2025)
7.15.4 Xi'an Xidian Electrical Materials Electrical Steel Sheet Varnish Product Offerings
7.15.5 Xi'an Xidian Electrical Materials Recent Development
7.16 Jiaxing Qinghe Gaoli Insulation
7.16.1 Jiaxing Qinghe Gaoli Insulation Company Information
7.16.2 Jiaxing Qinghe Gaoli Insulation Introduction and Business Overview
7.16.3 Jiaxing Qinghe Gaoli Insulation Electrical Steel Sheet Varnish Sales, Revenue, Price and Gross Margin (2020-2025)
7.16.4 Jiaxing Qinghe Gaoli Insulation Electrical Steel Sheet Varnish Product Offerings
7.16.5 Jiaxing Qinghe Gaoli Insulation Recent Development

8 Industry Chain Analysis
8.1 Electrical Steel Sheet Varnish Industrial Chain
8.2 Electrical Steel Sheet Varnish Upstream Analysis
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.2.3 Manufacturing Cost Structure
8.3 Midstream Analysis
8.4 Downstream Analysis (Customers Analysis)
8.5 Sales Model and Sales Channels
8.5.1 Electrical Steel Sheet Varnish Sales Model
8.5.2 Sales Channel
8.5.3 Electrical Steel Sheet Varnish Distributors

9 Research Findings and Conclusion

10 Appendix
10.1 Research Methodology
10.1.1 Methodology/Research Approach
10.1.1.1 Research Programs/Design
10.1.1.2 Market Size Estimation
10.1.1.3 Market Breakdown and Data Triangulation
10.1.2 Data Source
10.1.2.1 Secondary Sources
10.1.2.2 Primary Sources
10.2 Author Details
10.3 Disclaimer

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