Global Electrical Steel Coatings Market anticipated to Be Valued at US$ 211.9 Mn by the End of 2016

Electrical Steel Coatings Market

VALLEY COTTAGE, N.Y. – Future Market Insights delivers key insights on the global electrical steel coatings market in its latest report titled ‘Electrical Steel Coatings Market: Global Industry Analysis and Opportunity Assessment, 2016–2026.’ The long-term outlook for the global electrical steel coatings market remains positive, with market value expected to increase at a CAGR of 5.3% during the forecast period (2016 – 2026). Among coating type, the C5 segment is expected to expand at a significant CAGR in terms of value over the forecast period. Global sales of electrical steel coatings are estimated to be valued at US$ 211.9 Mn by the end of 2016. APEJ is estimated to account for a value share of 38.1% in the global electrical steel coatings market by 2016 end and it is anticipated to retain its dominance throughout the forecast period. In this report, Future Market Insights throws lights on drivers and restraints likely to impact the market during the forecast period

Electrical steel coatings are generally applied by roller coating technology over the grain-oriented as well as non-grain-oriented electrical steel sheets. Demand for electrical steel coatings is driven by the growth of motors and transformer industry. Moreover, growing penetration of electric and hybrid cars into the automobile industry, surging infrastructural investment for large power transformers in developed economies and consumption growth of electrical steel in a wide range of applications are some of the factors expected to facilitate the market growth of electrical steel coatings over the forecast period.

However, the global electrical steel coatings market is expected to face some challenges. Various large electrical steel manufacturers are developing their own facilities to develop and produce electrical steel coatings. This has led to a decrease in end-use sales point for exclusive electrical steel coatings manufacturers. Development of electrical steel coatings at a price lower than that of overall production cost- compared to when manufactured by electrical steel manufacturers can provide high market growth opportunities to exclusive coatings manufacturers.

Segmentation analysis

The electrical steel coatings market is segmented on the basis of coating type into C2, C3, C4, C5, and C6. The C5 segment is anticipated to continue to dominate the market in terms of value over the forecast period.

  • C5 type coating is basically a semi-organic coating which provides excellent properties in terms of core losses and corrosion protection when applied over electrical steel. The C-6 coating type segment is expected to represent a total incremental opportunity of US$ 13.0 Mn between 2016 and 2026.
  • C-2 type coating is an inorganic insulation coating applied on grain-oriented electrical steel and primarily composed of magnesium silicate. This type of coating found its application in power frequency devices, distribution transformers etc.

Regional market projections

APEJ is the leading market for electrical steel coatings, accounting for an estimated revenue share of 38.1% in the global electrical steel coatings market by the end of 2016. Increasing at a CAGR of 6.4%, the APEJ electrical steel coatings market is projected to create significant incremental $ opportunity over the forecast period. This is majorly attributed to the growing infrastructural development and end-use industries in this region. Consumption of electrical steel coatings in Eastern Europe is expected to increase to 4,984.3 tonnes by 2026 end.

Vendor insights

The report highlights some of the top companies operating in the global electrical steel coatings market such as Axalta Coating Systems Ltd., Rembrandtin Lack GmbH Nfg. KG, Chemetall GmbH, thyssenkrupp AG, AK Steel Holding Corporation, Cogent Power Limited, ArcelorMittal SA, JFE Steel Corporation, Proto Laminations Inc., Filtra Catalysts and Chemicals Ltd., Polaris Laser Laminations, LLC, Wuhan iron & Steel (GROUP) CORP. Manufacturers are focussing on long term contracts with direct end users that will lead to an uninterrupted supply of coatings.

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By Abhishek Budholiya

Abhishek Budholiya is a tech blogger, digital marketing pro, and has contributed to numerous tech magazines. Currently, as a technology and digital branding consultant, he offers his analysis on the tech market research landscape. His forte is analysing the commercial viability of a new breakthrough, a trait you can see in his writing. When he is not ruminating about the tech world, he can be found playing table tennis or hanging out with his friends.

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