Press release
Electrical Steel Coatings Market Poised for Strong Growth, Driven by EV Revolution and Energy Efficiency Demands
Electrical Steel Coatings Market
The market's upward trajectory is evident in recent growth figures, with a 5.1% year-on-year increase in 2025, reaching USD 335.0 million. This momentum is expected to continue, with semi-annual market updates showing a consistent increase in CAGR, rising from 5.5% in H1 2024 to 5.8% in H2 2025, reflecting a steady growth in demand.
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Innovation in Coatings Driving Performance and Efficiency
Key to this growth are advancements in coating technologies. Products like Voltatex 1250V Fast, a C5 coating, are revolutionizing the manufacturing of electrical components for motors and transformers. Its enhanced weldability, even in thicker layers, and optimized processing during slitting and stamping stages, significantly boost production efficiency and product quality. This directly translates to overall cost savings and superior electrical steel products, crucial for the expanding market for energy-efficient and durable electrical components.
The demand for high-performance insulation materials, such as highly filled organic and inorganic varnishes, is driving the adoption of C6 electrical steel coatings. These offer superior insulation, pressure, and temperature resistance, essential for demanding applications. Innovations in coil coating technology, including high-speed curing techniques like Near-Infrared (NIR) and inductive curing, are further optimizing production capacity and reducing energy consumption.
Eco-Friendly Solutions and Regulatory Compliance
A significant trend shaping the market is the shift towards eco-friendly water-based semi-inorganic coatings. Manufacturers are increasingly focusing on solutions that reduce volatile organic compound (VOC) emissions and eliminate hazardous substances like chromium, aligning with stringent environmental regulations. This commitment to sustainability, without compromising on performance, is particularly vital in industries such as automotive (EVs), renewable energy, and high-efficiency electrical equipment.
Market Segmentation and Regional Dynamics
The C5 coating type is poised to dominate the market by product type, projected to capture a substantial 43.7% share in 2025 due to its enhanced welding and processing efficiencies. In terms of application, the Transformers segment is anticipated to hold the largest share at 35.6% in 2025, driven by global electrification efforts and the need for efficient power transmission.
Geographically, China is set to hold the largest share in East Asia (35.6%) as a leading manufacturing hub and the largest EV producer. The USA will capture a significant 22.9% in North America, propelled by its strong demand in electric vehicles and renewable energy projects. Germany will lead Western Europe with a 19.7% share, underpinned by its robust automotive and industrial sectors and a strong focus on energy efficiency. India (6.1% CAGR), Japan (5.3% CAGR), and South Korea (forecasted strong growth in general electronics and EV sectors, aligning with overall positive market trends) are also critical growth markets.
Competitive Landscape Focused on Innovation and Sustainability
The electrical steel coatings market is moderately consolidated, with Tier 1 companies, including Axalta Coatings Systems Ltd., ThyssenKrupp AG, Rembrandtin Lack GmbH Nfg. KG, POSCO, Baosteel, and Nippon Steel & Sumitomo Metal Corporation (NSSMC), holding a significant 30-35% market share. These leaders are characterized by extensive expertise, high production capacities, and a broad geographical reach.
Recent industry developments highlight this focus on advanced and sustainable solutions. For instance, SIJ Acroni has established conditions for pioneering the production of advanced electrical steel via the Electric Arc Furnace (EAF) route, critical for future EV components. Fives has supplied advanced thermal sections for new annealing and coating lines, further enhancing electrical steel quality. These strategic moves underscore the industry's commitment to innovation, efficiency, and environmental responsibility, ensuring electrical steel coatings remain at the heart of the global energy transition.
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Explore FMI's related ongoing Coverage in Chemicals & Materials Domain:
Electrical Insulation Materials Market: https://www.futuremarketinsights.com/reports/electrical-insulation-materials-market
Electrically Conductive Adhesives Market: https://www.futuremarketinsights.com/reports/electrically-conductive-adhesives-market
Conductive Polymer Coating Market : https://www.futuremarketinsights.com/reports/global-conductive-polymer-coatings-market
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