High magnetic induction grain-oriented silicon steel Market Update, Analysis, Forecast, 2019 – 2025

1. High Magnetic Induction Grain-oriented Silicon Steel Market Growth Outlook with Industry Review and Forecast 2019-2025 © 2019 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

2. Global Market Scenario of High Magnetic Induction Grain-oriented Silicon Steel Industry • High magnetic induction grain-oriented silicon steel market size will experience significant growth in Asia Pacific owing to propelling demand from power industry in the forecast period. • It is a type of grain-oriented silicon steel alloys which possess high permeability. Grain-oriented silicon steel alloys are generally known as electrical steel. It has a symmetrical structure where cubic crystals are cumulatively arranged in the direction of rolled steel plate. It is made by a chain of annealing and rolling treatments. • Power transmission industry will chiefly drive the high magnetic induction grain-oriented silicon steel market size in the coming years. The region is witnessing fastest industrial growth till date, which has resulted in high electricity demand in the past few years. • According to the World Bank, the number of emerging economies in Asia Pacific including India, Vietnam, Indonesia, Thailand, Cambodia Myanmar, etc. have an undeveloped power sector with low access rates and low quality of supply, as per capita electricity consumption rate. • Therefore, countries such as India and Thailand are proactively taking steps to increase their electricity access for household and commercial sector by expanding the transformer grid across their region. As power installation plans will accelerate in future, the product demand is expected to increase over the forecast period. © 2019 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

3. Regional Trends:- • Asia Pacific is likely to contribute significantly to the overall high magnetic induction grain-oriented silicon steel market growth in the forecast timeframe. India and China lead the region in both manufacturing and consumption of product. • According to a 2014, Asia Development Bank report, the energy need of Asia Pacific is expected to increase over 70% between 2010 and 2035, with China’s share accounting for 38% while India’s share to be over 13%. The rest of Asia Pacific is expected to account for 64%. • North America and Europe have a satisfactory electricity access, thus will show moderate gains to the overall high magnetic induction grain-oriented silicon steel market size by 2025. © 2019 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

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5. Competitive Trends: • The companies functioning in high magnetic induction grain-oriented silicon steel market are Thyssenkrupp, Arnold Magnetic Technologies Corp., Cogent power, AK Steel Intl., Posco, Cogent Power Limited, JFE Steel Corporation, Baosteel. and Nippon Steel&Sumitomo Metal. In 2018, Thyssenkrupp announced that it was starting the production of grain oriented electrical steel (CRGO) at its Nashik plant in India. © 2019 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

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