Non-Oriented Electrical Steel Market

Non-Oriented Electrical Steel Market Size 2023-2028:

The non-oriented electrical steel market is valued at US$ 17,468.53 Million in 2022 and is anticipated to increase to US$ 20,858.28 Million by 2028, with a growing CAGR of 3.81% 

Non-Oriented Electrical Steel is completely processed steel that consists of an iron-silicon alloy with varying silicon that has the same magnetic characteristics in all directions of the sheet plan. When minimal core loss & strong magnetic permeability are required, non-oriented electric steel is often employed as a core magnetic material. Non-oriented electrical steel cover is made from this type of non-oriented steel, and they're utilized in anything from household appliances to hybrid and pure electric automobiles. In the process of making non-oriented electrical steel, the steel melted gets consolidated as such an ingot and therefore is subject to cold rolling and hot rolling in order to give a completed strip. Because of their high magnetization saturation, strong magnetic permeability, minimal core loss, and low cost, non-oriented electrical steels (NOES) are the most extensively utilized main substance for electric motors, generators, and alternators.

Non-Oriented Electrical Steel Market Drivers:

Growing demand for traction motors, high-frequency transformers, and high-speed electric motors from Hybrid Electric Vehicles, together with a growing preference for Non-Oriented Electrical Steel, is expected to drive market growth. Reduced core losses, as well as strong magnetic permeability, are expected to have a positive impact on development. Non-oriented Electric Steel is commonly utilized as an iron core material in rotating machinery ranging from small precision electric motors to huge power generators because of its homogeneous magnetic behavior in all directions. They're also found in the iron cores of power generation, small power transformers, ac motors, and other household items. The value of the Non-Oriented Electrical Steel Market has been positively affected by all of its qualities, including such as reduced core weight and high magnetic permeability, as well as its applications in many sectors and for other appliances.

Non-Oriented Electrical Steel Market Restraints:

The restraining factor that is restricting the growth of the global nonoriented electrical steel market, is the availability of replacements such as grain-oriented electrical steel. Furthermore, raw material prices elusively might stifle market expansion. As there is a downturn as it is elusive in raw material prices which can be hindering the market as Covid 19 pandemic is under the throats of every individual because of this there is no import and export with the nations and due to this, there is an impact in the global nonoriented electrical steel market.

NON-ORIENTED ELECTRICAL STEEL MARKET REPORT COVERAGE:

Market Segmentation:

Non-Oriented Electrical Steel Market By Type:

• Semi Processed

• Fully Processed

The semi-processed segment is dominating the global market with a CAGR of 4.13% in the upcoming years. Tiny rotors, Stators, as well as small power transformers, benefit from non-oriented semi-processed grades. Semi-processed in non-oriented electrical steel is widely used and commands a large portion of the market. Furthermore, the magnetic properties of semi-processed non-oriented electric steel are not fully developed. The magnetic characteristics of the laminations are completely established only after decarburization and annealing. Temper rolling follows annealing in the manufacturing step for non-oriented semi-processed material grades. The stamped pieces are annealed to their final state at the customer's site. Semi-processed non-oriented electric steel is also well-suited to motors with less than 20 horsepower. Because of all of these aspects, the semi-processed segment dominates the market.

Non-Oriented Electrical Steel Market By Application:

• Transformer

• Inductors

• Motors

The Motors segment is expected to be the dominant one in the upcoming years with a CAGR of 4.14%. As motors have the largest market share in the application area and are increasing at the fastest rate in the world. An electric motor is a machine that converts electrical energy into mechanical energy. Because it is cost-effective and fits the criteria for high-efficiency, high-power motors, non-oriented electrical steel (NO) is widely utilized as a motor core material. Traction motors are the major components of the drive mechanism in electric mobility such as PHEVs, HEVs, as well as EVs that take the place of engines. As iron core materials, electrical steel sheets are important functional materials that considerably improve the motor performance and fuel economy of EVs.

Recent Developments:

19^th January 2022: As a sustainable basis material for energy turnaround, ThyssenKrupp’s CO2-reduced electrical steel, as ThyssenKrupp Electrical Steel provides electrical steel to transformer expert SGB-SMIT for E.ON's new digital stations. The firm manufactures high-quality grain-oriented electrical steel, which again is required for electrical energy transmission and forwarding in low-loss power transformers. This basic component of the energy revolution with considerably lower CO2 intensity is now being provided to a client for the first time. The Regensburg-based business SGB-SMIT will receive the first batches of blue mint Steel with a 50% reduction in CO2 emissions for the construction of transformers for modern electronic E.ON medium-voltage substations.

7^th May 2021: JSW Steel and JFE Steel Corporation have agreed to conduct a feasibility study for the establishment of a grain-oriented electrical steel sheets production and sales joint venture in India. The objective is to finish the research this financial year and take the necessary measures to form this joint venture firm. Grain-oriented electrical steel is a key component in the manufacture of power transformers and high-performance generators. Both firms have a memorandum of understanding.

Impact of COVID-19 (Global Non-Oriented Electrical Steel Market):

Numerous firms in the electrical steel market produced industry surveys to give some suggesting measures concerning the influence of Covid-19 on global nonoriented electrical steel companies, component suppliers, as well as machinery manufacturers. Industries considered critical were operating at capacity levels of up to 95 percent. The Energy and automotive industries are two of the areas that are seeing increased demand. Coronavirus has completely affected the earth as a result of its spread. Supply networks have already been disrupted as a result of this. The epidemic has wreaked havoc on global systems. Because of this, there were upsides and downsides for the global nonoriented electrical steel market.

The Non-Oriented Electrical Steel Market Report includes the segmentation of Regions:

• North America

• Europe

• Asia Pacific

• Latin America

• The Middle East and Africa 

 Non-Oriented Electrical Steel Market Key Players:

The key players in the Global Non-Oriented Electrical Steel Market are:

• Baowu

• Arcelor Mittal

• POSCO

• Nippon Steel Corporation

• Thyssenkrupp

• Voestalpine AG (Austria)

• United States Steel Corporation (United States)

• SAIL (India)

• TATA Steel Limited (India)

• FE Steel Corporation (Japan)