Silicon steel is a soft magnetic material that is used in electrical power transformers, motors and generators. It has a high silicon content of about 3.2 mass %, which increases the electrical resistivity of iron and, therefore, reduces eddy current losses.
Due to the COVID-19 pandemic and Russia-Ukraine War Influence, the global market for Silicon Steel estimated at USD million in the year 2022, is projected to reach a revised size of USD million by 2028, growing at a CAGR of % during the forecast period 2022-2028.
The USA market for Silicon Steel is estimated to increase from USD million in 2022 to reach USD million by 2028, at a CAGR of % during the forecast period of 2023 through 2028.
The China market for Silicon Steel is estimated to increase from USD million in 2022 to reach USD million by 2028, at a CAGR of % during the forecast period of 2023 through 2028.
The Europe market for Silicon Steel is estimated to increase from USD million in 2022 to reach USD million by 2028, at a CAGR of % during the forecast period of 2023 through 2028.
The global key manufacturers of Silicon Steel include POSCO, Tata Steel, Nippon Steel and Sumitomo Metal, ArcelorMittal, Shougang, Hyundai Steel, Ansteel Group, China Baowu Steel Group and JFE Steel Corporation, etc. In 2021, the global top five players had a share approximately % in terms of revenue.
In terms of production side, this report researches the Silicon Steel production, growth rate, market share by manufacturers and by region (region level and country level), from 2017 to 2022, and forecast to 2028.
In terms of sales side, this report focuses on the sales of Silicon Steel by region (region level and country level), by company, by Type and by Application. from 2017 to 2022 and forecast to 2028.
