Rising Demand for Lightweight Machineries to Boost Global Gain Oriented Electrical Steel Market

Published On : 30 May 2017

Grain oriented electrical steel offers better magnetic and electric properties compared to its substitutes, which is why its demand is forecast to scale higher in the coming years. QYResearchReports has added a report, titled “Global Grain Oriented Electrical Steel Market Research Report 2017,” to its repository assessing the various factors supporting the market’s growth and those restricting its trajectory to an extent. 

Grain oriented electrical steel is an iron-silicon magnetic alloy. This alloy finds use in the construction of the cores of electric transformers, which are highly efficient. The rising application of grain oriented electrical steels is attributable to their unique magnetic characteristics.  Currently, they are available in grades such as M-6, M-5, M-4, M-3, and M-2. These grades exhibit superior magnetic properties and are used primarily in transformer cores. 

Considering the augmented demand from the automotive industry, the global grain oriented electrical steel market will keep witnessing lucrative scopes through the forecast period. Grain oriented electrical steel is witnessing high demand as it helps in manufacturing light-weight machine parts, thereby improving their overall efficiency. On the back of this, the use of grain oriented electrical steel will continue rising in the automotive industry, as it witnesses increasing demand for hybrid and electric vehicles, which ought to be lightweight. 

Get PDF of Research Summary Of The Repot: http://www.qyresearchreports.com/sample/sample.php?rep_id=906796&type=E

Besides this, robust growth in the power industry has contributed in accelerating the market’s pace of gains. In the power industry, grain oriented electrical steel is mainly used in transformers. While the rising demand for non-grain oriented variant of the same will keep haunting the market in the coming years, expansion in the power industry will bolster opportunities for the grain oriented electrical steel market. 

The report provides a comprehensive overview of the various factors enabling growth in the global gain oriented electrical steel market. This covers the impact of regulatory policies and recent technological disruptions in the chemical industry. The threat from the rising demand for non-grain oriented steel is studied as well in-depth. According to the report, North America, China, Europe, Japan, Southeast Asia, and India are among the key regional markets. The factors influencing the market’s trajectory across the aforementioned regional markets are thus evaluated in detail. 

While developed countries in North America will continue exhibiting lucrative opportunities, the market is also expected to gain accelerated pace across emerging nations in Asia Pacific. Rapid industrialization witnessed across India, China, and Southeast Asia is tipping scales in favor of the grain oriented electrical steel market. In Japan as well, the demand for grain oriented electrical steel is stoked as the nation boasts highly sophisticated, aerospace, automotive, and military infrastructures. 

Besides providing insights into the prevailing market dynamics, the report also gauges competition in the global grain oriented electrical steel market. It therefore profiles companies such as NLMK Group, AK Steel, NSSMC, ThyssenKrupp, Posco, JFE Steel, ArcelorMittal, Stalprodukt S.A, ATI, Cogent(Tata Steel), WISCO, Ansteel, Baosteel, and Shougang. In the company profile section, the report covers basic information of the company besides its manufacturing base, product portfolio, development trends, and an overall business overview. The report also provides recommendation based on research thus conducted to help companies operating in the market determining winning strategies for the future. 

 

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