LONDON, Feb. 08, 2018 (GLOBE NEWSWIRE) -- Grain-oriented electrical steel (GOES) is one of the highly sophisticated steel products, and very handful producers are capable of manufacturing it. Almost all of the trade has been conducted between producers and end users while traders are almost nonexistent in the market. Commodity Inside assesses that there is an excess supply of grain-oriented electrical steel and currently the overall market is in surplus. Traditionally, demand for grain-oriented steel has mainly driven by transformers, which is closely tracking power infrastructure whilst exhibiting a moderate growth. This is going to change substantially in the long term. Demand for grain-oriented electrical steel is going to see significant growth in its existing stronghold- power market- whereas renewable such as wind and solar power would support demand for new transformers. New emerging growth pockets would be charging infrastructure for electric vehicles, growth in smart power infrastructure etc.
Non-grain oriented electrical steel is comparatively less sophisticated but has a wide range of applications ranging from electric motors to less efficient transformers. Demand is also expected to increase significantly due to growth in existing end-use sectors such as power generators and white goods. The automotive industry is one of the key areas where it uses electrical steel in motors. Commodity Inside expects that with the increase in sales of electric vehicles the use of NGOES would increase further, particularly in the electric motor engine.
Commodity Inside understands that the expected significant higher demand for both GOES and NGOES would not cause any supply shortage over the next few years. There have already been few announcements across the world about capacity additions in the US, China and India. However, there would be more need for capacity additions for electrical steel beyond 2025.
Product Details
A Strategic Outlook for the Global Electrical Steel Market to 2028 is a valuable resource necessary for examining the global electrical steel market. We have employed a very sophisticated and robust approach to assessing the electrical steel market by taking into account various demand and supply dynamics. This content-rich report covers the following key aspects:
- How demand and supply of grain and non-grain oriented electrical steel would perform over the next ten years?
- Do we have enough production capacity of grain and non-grain oriented electrical steel currently?
- Electrical steel historical and forecasts prices
- How will the power market provide potential growth opportunities for grain-oriented electrical steel?
- How will the electric vehicle industry significantly increase demand for both grain and non-grain oriented electrical steel?
- What will be the major trends and developments in the electrical steel market and how they will impact the industry?
- How will the electrical steel market perform over the next ten years?
- What will be the main threats and opportunities in the industry?
- What will be the major drivers behind the increase in electrical steel demand globally and how various end-use sectors will impact the market?
- The current and future demand dynamics of electrical steel in different regions
- Electrical steel import and exports
- Detailed discussions on market strategies and competitive landscapes
A Strategic Outlook for the Global Electrical Steel Market to 2028 provides you with the following in-depth analysis:
- Demand, production, capacity and trade of grain and non-grain oriented electrical steel by leading markets
- Historical and forecast of grain and non-grain oriented electrical steel prices
- Electrical steel demand by major end-use sectors such as transformers, transport, wind energy, white goods, industrial motors and others
- Emerging trends such as electric vehicle, smart grids and renewable energy
- Grain and non-grain oriented electrical steel production capacity by producer
- Detailed tables, figures and charts
- This is a content-rich report with all supportive data is provided in Excel
To learn more about 'A Strategic Outlook for the Global Electrical Steel Market to 2028' report, please visit
https://commodityinside.com/reports/strategic-outlook-global-electrical-steel-market-2028/
About Commodity Inside
Commodity Inside (www.commodityinside.com) is an independent privately owned company provides market research analysis and consulting to the commodities market. We specialise in glass, metal, paper and plastic industries and their end-use sectors such as packaging, energy, automotive and construction. We publish a range of thorough and highly analytical market analysis reports. Our consultancy arm offers expertise to companies in these markets and helping them in making the right decisions.
For further information about this report and additional research, please contact:
Fernando Barbosa
Business Development Executive
Email: fernando@commodityinside.com
Tel: +44 (0) 207 14 00002