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Electrical Steel Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

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from $4,850 150 Pages Fortune Business Insights Pvt. Ltd. May, 2024 FOB18819930
Best Price Guarantee
Price from $4,850
Length 150 Pages
Publisher Fortune Business Insights Pvt. Ltd.
Published Date May, 2024
SKU FOB18819930

Electrical Steel Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Electrical Steel Market

The electrical steel market size was valued at USD 30.70 billion in 2023, and the market is now projected to grow from USD 32.19 billion in 2024 to USD 50.09 billion by 2032, exhibiting a CAGR of 5.6% during the forecast period of 2024-2032.

The COVID-19 pandemic considerably interrupted the market. Infrastructure projects were postponed, automobile manufacturing diminished, and production plants stopped operations, all of which adversely impacted market growth. However, governments in several countries are executing regulations to revive their financial prudence leading to increased product consumption.

The prompt development of the automotive industry alongside the growing use of hybrid vehicles, is motivating the implementation of electrical steel to augment aesthetic performance and decrease vehicle weight. Moreover, supportive government regulations in developing economies aimed at environmental protection are enhancing product demand. The rising popularity of hybrid vehicles and growing consumer spending will further motivate vehicle usage.

Electrical steel is vital in manufacturing motors because of its magnetic flux, twisting, low CO2 discharges, and electromagnetic properties. The demand for electrical motors is promptly growing in uses like boring, water pumps, hard disk drives, equipment, and industrial equipment. Moreover, technological improvements and prompt industrialization and infrastructure improvement are projected to enhance the implementation of electrical steel. Therefore, these features are likely to drive the electrical steel market growth.

Comprehensive Analysis of Electrical Steel Market

The market can be segmented in various ways depending on the focus of study such as by type and by application. Based on the application, the market is segmented into transformer, motors, inductors, and others. By type, the market is segmented into non-grain oriented and grain oriented.

North America region is dominating the electrical steel market share due to high accessibility of raw materials within the region, supportive technological improvement and economically firm nations.The development in machinery and automotive industries, where the product is used in power producers, motors, and convertors is surging the demand for grain oriented electrical steel in the region.

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and growing market share by merger, partnerships and others. These players include

Benxi Steel Group Co., Ltd (China), CSC Steel Sdn. Bhd (Malaysia), Tata Steel (India), Nucor Corporation (U.S.), NLMK (Russia), ArcelorMittal S.A. (Luxembourg), Shougang Group (China), thyssenkrupp Steel (Germany), Baosteel Group Corporation (China), POSCO (South Korea), NIPPON STEEL CORPORATION (Japan), Voestalpine Group (Austria), Yieh Corporation (Taiwan), Aperam S.A. (Luxembourg), Arnold Magnetic Technologies (U.S.) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In November 2021, POSCO declared plans to upsurge the production of electrical steel sheets to meet consumer demand. The company will spend USD 848.6 million to produce 300,000 tons of steel plates yearly.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 5.6% during 2024-2032

Unit Value (USD Billion), Volume (Kiloton)

Segmentation By Type

Non-grain Oriented

Grain Oriented

By Application

Transformer

Motors

Inductors

Others

By Geography

North America (By Type, By Application, By Country)

U.S.

Canada

Europe (By Type, By Application, By Country)

Germany

U.K.

France

Italy

Rest of Europe

Asia Pacific (By Type, By Application, By Country)

China

Japan

India

Rest of Asia Pacific

Latin America (By Type, By Application, By Country)

Brazil

Mexico

Rest of Latin America

Middle East & Africa (By Type, By Application, By Country)

South Arabia

South Africa

Rest of Middle East & Africa


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1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
3.4. Market Trends
4. Key Insights
4.1. Overview of the Parent/Related Markets
4.2. Supply Chain Analysis
4.3. Regulatory Analysis
4.4. Recent Industry Developments – Mergers & Acquisitions, Partnerships, & New Product Launches
4.5. Qualitative Analysis Related to COVID-19
5. Global Natural Sweeteners Market Analysis, Insights and Forecast, 2019-2032
5.1. Key Findings / Summary
5.2. Market Size Estimates and Forecast
5.2.1. By Type
5.2.1.1. Honey
5.2.1.2. Molasses
5.2.1.3. Date Palm
5.2.1.4. Sugar Alcohol
5.2.1.4.1. Xylitol
5.2.1.4.2. Mannitol
5.2.1.4.3. Sorbitol
5.2.1.4.4. Maltitol
5.2.1.5. Stevia
5.2.1.6. Others
5.2.2. By Application
5.2.2.1. Food and Beverages
5.2.2.1.1. Bakery
5.2.2.1.2. Confectionary
5.2.2.1.3. Beverages
5.2.2.1.4. Others
5.2.2.2. Pharmaceuticals
5.2.2.3. Personal Care and Cosmetics
5.2.3. By Region
5.2.3.1. North America
5.2.3.2. Europe
5.2.3.3. Asia Pacific
5.2.3.4. South America
5.2.3.5. Middle East & Africa
6. North America Natural Sweeteners Market Analysis, Insights and Forecast, 2019-2032
6.1. Key Findings / Summary
6.2. Market Size Estimates and Forecast
6.2.1. By Type
6.2.1.1. Honey
6.2.1.2. Molasses
6.2.1.3. Date Palm
6.2.1.4. Sugar Alcohol
6.2.1.4.1. Xylitol
6.2.1.4.2. Mannitol
6.2.1.4.3. Sorbitol
6.2.1.4.4. Maltitol
6.2.1.5. Stevia
6.2.1.6. Others
6.2.2. By Application
6.2.2.1. Food and Beverages
6.2.2.1.1. Bakery
6.2.2.1.2. Confectionary
6.2.2.1.3. Beverages
6.2.2.1.4. Others
6.2.2.2. Pharmaceuticals
6.2.2.3. Personal Care and Cosmetics
6.2.3. By Country (Value)
6.2.3.1. U.S.
6.2.3.1.1. By Application
6.2.3.1.1.1. Food and Beverages
6.2.3.1.1.1.1. Bakery
6.2.3.1.1.1.2. Confectionary
6.2.3.1.1.1.3. Beverages
6.2.3.1.1.1.4. Others
6.2.3.1.1.2. Pharmaceuticals
6.2.3.1.1.3. Personal Care and Cosmetics
6.2.3.2. Canada
6.2.3.2.1. By Application
6.2.3.2.1.1. Food and Beverages
6.2.3.2.1.1.1. Bakery
6.2.3.2.1.1.2. Confectionary
6.2.3.2.1.1.3. Beverages
6.2.3.2.1.1.4. Others
6.2.3.2.1.2. Pharmaceuticals
6.2.3.2.1.3. Personal Care and Cosmetics
6.2.3.3. Mexico
6.2.3.3.1. By Application
6.2.3.3.1.1. Food and Beverages
6.2.3.3.1.1.1. Bakery
6.2.3.3.1.1.2. Confectionary
6.2.3.3.1.1.3. Beverages
6.2.3.3.1.1.4. Others
6.2.3.3.1.2. Pharmaceuticals
6.2.3.3.1.3. Personal Care and Cosmetics
7. Europe Natural Sweeteners Market Analysis, Insights and Forecast, 2019-2032
7.1. Key Findings / Summary
7.2. Market Size Estimates and Forecast
7.2.1. By Type
7.2.1.1. Honey
7.2.1.2. Molasses
7.2.1.3. Date Palm
7.2.1.4. Sugar Alcohol
7.2.1.4.1. Xylitol
7.2.1.4.2. Mannitol
7.2.1.4.3. Sorbitol
7.2.1.4.4. Maltitol
7.2.1.5. Stevia
7.2.1.6. Others
7.2.2. By Application
7.2.2.1. Food and Beverages
7.2.2.1.1. Bakery
7.2.2.1.2. Confectionary
7.2.2.1.3. Beverages
7.2.2.1.4. Others
7.2.2.2. Pharmaceuticals
7.2.2.3. Personal Care and Cosmetics
7.2.3. By Country (Value)
7.2.3.1. Germany
7.2.3.1.1. By Application
7.2.3.1.1.1. Food and Beverages
7.2.3.1.1.1.1. Bakery
7.2.3.1.1.1.2. Confectionary
7.2.3.1.1.1.3. Beverages
7.2.3.1.1.1.4. Others
7.2.3.1.1.2. Pharmaceuticals
7.2.3.1.1.3. Personal Care and Cosmetics
7.2.3.2. France
7.2.3.2.1. By Application
7.2.3.2.1.1. Food and Beverages
7.2.3.2.1.1.1. Bakery
7.2.3.2.1.1.2. Confectionary
7.2.3.2.1.1.3. Beverages
7.2.3.2.1.1.4. Others
7.2.3.2.1.2. Pharmaceuticals
7.2.3.2.1.3. Personal Care and Cosmetics
7.2.3.3. U.K.
7.2.3.3.1. By Application
7.2.3.3.1.1. Food and Beverages
7.2.3.3.1.1.1. Bakery
7.2.3.3.1.1.2. Confectionary
7.2.3.3.1.1.3. Beverages
7.2.3.3.1.1.4. Others
7.2.3.3.1.2. Pharmaceuticals
7.2.3.3.1.3. Personal Care and Cosmetics
7.2.3.4. Spain
7.2.3.4.1. By Application
7.2.3.4.1.1. Food and Beverages
7.2.3.4.1.1.1. Bakery
7.2.3.4.1.1.2. Confectionary
7.2.3.4.1.1.3. Beverages
7.2.3.4.1.1.4. Others
7.2.3.4.1.2. Pharmaceuticals
7.2.3.4.1.3. Personal Care and Cosmetics
7.2.3.5. Italy
7.2.3.5.1. By Application
7.2.3.5.1.1. Food and Beverages
7.2.3.5.1.1.1. Bakery
7.2.3.5.1.1.2. Confectionary
7.2.3.5.1.1.3. Beverages
7.2.3.5.1.1.4. Others
7.2.3.5.1.2. Pharmaceuticals
7.2.3.5.1.3. Personal Care and Cosmetics
7.2.3.6. Rest of Europe
7.2.3.6.1. By Application
7.2.3.6.1.1. Food and Beverages
7.2.3.6.1.1.1. Bakery
7.2.3.6.1.1.2. Confectionary
7.2.3.6.1.1.3. Beverages
7.2.3.6.1.1.4. Others
7.2.3.6.1.2. Pharmaceuticals
7.2.3.6.1.3. Personal Care and Cosmetics
8. Asia Pacific Natural Sweeteners Market Analysis, Insights and Forecast, 2019-2032
8.1. Key Findings / Summary
8.2. Market Size Estimates and Forecast
8.2.1. By Type
8.2.1.1. Honey
8.2.1.2. Molasses
8.2.1.3. Date Palm
8.2.1.4. Sugar Alcohol
8.2.1.4.1. Xylitol
8.2.1.4.2. Mannitol
8.2.1.4.3. Sorbitol
8.2.1.4.4. Maltitol
8.2.1.5. Stevia
8.2.1.6. Others
8.2.2. By Application
8.2.2.1. Food and Beverages
8.2.2.1.1. Bakery
8.2.2.1.2. Confectionary
8.2.2.1.3. Beverages
8.2.2.1.4. Others
8.2.2.2. Pharmaceuticals
8.2.2.3. Personal Care and Cosmetics
8.2.3. By Country (Value)
8.2.3.1. China
8.2.3.1.1. Application
8.2.3.1.1.1. Food and Beverages
8.2.3.1.1.1.1. Bakery
8.2.3.1.1.1.2. Confectionary
8.2.3.1.1.1.3. Beverages
8.2.3.1.1.1.4. Others
8.2.3.1.1.2. Pharmaceuticals
8.2.3.1.1.3. Personal Care and Cosmetics
8.2.3.2. India
8.2.3.2.1. Application
8.2.3.2.1.1. Food and Beverages
8.2.3.2.1.1.1. Bakery
8.2.3.2.1.1.2. Confectionary
8.2.3.2.1.1.3. Beverages
8.2.3.2.1.1.4. Others
8.2.3.2.1.2. Pharmaceuticals
8.2.3.2.1.3. Personal Care and Cosmetics
8.2.3.3. Japan
8.2.3.3.1. Application
8.2.3.3.1.1. Food and Beverages
8.2.3.3.1.1.1. Bakery
8.2.3.3.1.1.2. Confectionary
8.2.3.3.1.1.3. Beverages
8.2.3.3.1.1.4. Others
8.2.3.3.1.2. Pharmaceuticals
8.2.3.3.1.3. Personal Care and Cosmetics
8.2.3.4. Australia
8.2.3.4.1. Application
8.2.3.4.1.1. Food and Beverages
8.2.3.4.1.1.1. Bakery
8.2.3.4.1.1.2. Confectionary
8.2.3.4.1.1.3. Beverages
8.2.3.4.1.1.4. Others
8.2.3.4.1.2. Pharmaceuticals
8.2.3.4.1.3. Personal Care and Cosmetics
8.2.3.5. Rest of Asia Pacific
8.2.3.5.1. Application
8.2.3.5.1.1. Food and Beverages
8.2.3.5.1.1.1. Bakery
8.2.3.5.1.1.2. Confectionary
8.2.3.5.1.1.3. Beverages
8.2.3.5.1.1.4. Others
8.2.3.5.1.2. Pharmaceuticals
8.2.3.5.1.3. Personal Care and Cosmetics
9. South America Natural Sweeteners Market Analysis, Insights and Forecast, 2019-2032
9.1. Key Findings / Summary
9.2. Market Size Estimates and Forecast
9.2.1. By Type
9.2.1.1. Honey
9.2.1.2. Molasses
9.2.1.3. Date Palm
9.2.1.4. Sugar Alcohol
9.2.1.4.1. Xylitol
9.2.1.4.2. Mannitol
9.2.1.4.3. Sorbitol
9.2.1.4.4. Maltitol
9.2.1.5. Stevia
9.2.1.6. Others
9.2.2. By Application
9.2.2.1. Food and Beverages
9.2.2.1.1. Bakery
9.2.2.1.2. Confectionary
9.2.2.1.3. Beverages
9.2.2.1.4. Others
9.2.2.2. Pharmaceuticals
9.2.2.3. Personal Care and Cosmetics
9.2.3. By Country (Value)
9.2.3.1. Brazil
9.2.3.1.1. By Application
9.2.3.1.1.1. Food and Beverages
9.2.3.1.1.1.1. Bakery
9.2.3.1.1.1.2. Confectionary
9.2.3.1.1.1.3. Beverages
9.2.3.1.1.1.4. Others
9.2.3.1.1.2. Pharmaceuticals
9.2.3.1.1.3. Personal Care and Cosmetics
9.2.3.2. Argentina
9.2.3.2.1. By Application
9.2.3.2.1.1. Food and Beverages
9.2.3.2.1.1.1. Bakery
9.2.3.2.1.1.2. Confectionary
9.2.3.2.1.1.3. Beverages
9.2.3.2.1.1.4. Others
9.2.3.2.1.2. Pharmaceuticals
9.2.3.2.1.3. Personal Care and Cosmetics
9.2.3.3. Chile
9.2.3.3.1. By Application
9.2.3.3.1.1. Food and Beverages
9.2.3.3.1.1.1. Bakery
9.2.3.3.1.1.2. Confectionary
9.2.3.3.1.1.3. Beverages
9.2.3.3.1.1.4. Others
9.2.3.3.1.2. Pharmaceuticals
9.2.3.3.1.3. Personal Care and Cosmetics
9.2.3.4. Rest of South America
9.2.3.4.1. By Application
9.2.3.4.1.1. Food and Beverages
9.2.3.4.1.1.1. Bakery
9.2.3.4.1.1.2. Confectionary
9.2.3.4.1.1.3. Beverages
9.2.3.4.1.1.4. Others
9.2.3.4.1.2. Pharmaceuticals
9.2.3.4.1.3. Personal Care and Cosmetics
10. Middle East & Africa Natural Sweeteners Market Analysis, Insights and Forecast, 2019-2032
10.1. Key Findings / Summary
10.2. Market Size Estimates and Forecast
10.2.1. By Type
10.2.1.1. Honey
10.2.1.2. Molasses
10.2.1.3. Date Palm
10.2.1.4. Sugar Alcohol
10.2.1.4.1. Xylitol
10.2.1.4.2. Mannitol
10.2.1.4.3. Sorbitol
10.2.1.4.4. Maltitol
10.2.1.5. Stevia
10.2.1.6. Others
10.2.2. By Application
10.2.2.1. Food and Beverages
10.2.2.1.1. Bakery
10.2.2.1.2. Confectionary
10.2.2.1.3. Beverages
10.2.2.1.4. Others
10.2.2.2. Pharmaceuticals
10.2.2.3. Personal Care and Cosmetics
10.2.3. By Country (Value)
10.2.3.1. Turkey
10.2.3.1.1. By Application
10.2.3.1.1.1. Food and Beverages
10.2.3.1.1.1.1. Bakery
10.2.3.1.1.1.2. Confectionary
10.2.3.1.1.1.3. Beverages
10.2.3.1.1.1.4. Others
10.2.3.1.1.2. Pharmaceuticals
10.2.3.1.1.3. Personal Care and Cosmetics
10.2.3.2. South Africa
10.2.3.2.1. By Application
10.2.3.2.1.1. Food and Beverages
10.2.3.2.1.1.1. Bakery
10.2.3.2.1.1.2. Confectionary
10.2.3.2.1.1.3. Beverages
10.2.3.2.1.1.4. Others
10.2.3.2.1.2. Pharmaceuticals
10.2.3.2.1.3. Personal Care and Cosmetics
10.2.3.3. Saudi Arabia
10.2.3.3.1. By Application
10.2.3.3.1.1. Food and Beverages
10.2.3.3.1.1.1. Bakery
10.2.3.3.1.1.2. Confectionary
10.2.3.3.1.1.3. Beverages
10.2.3.3.1.1.4. Others
10.2.3.3.1.2. Pharmaceuticals
10.2.3.3.1.3. Personal Care and Cosmetics
10.2.3.4. Rest of Middle East & Africa
10.2.3.4.1. By Application
10.2.3.4.1.1. Food and Beverages
10.2.3.4.1.1.1. Bakery
10.2.3.4.1.1.2. Confectionary
10.2.3.4.1.1.3. Beverages
10.2.3.4.1.1.4. Others
10.2.3.4.1.2. Pharmaceuticals
10.2.3.4.1.3. Personal Care and Cosmetics
11. Competitive Matrix
11.1. Business Strategies Adopted by Leading Players
11.2. Global Natural Sweeteners Market Revenue Share/Ranking Analysis, By Key Manufacturer, 2023
12. Company Profiles
12.1. Tate & Lyle PLC
12.1.1. Overview
12.1.2. Description
12.1.3. Product Portfolio
12.1.4. Financials (Data as available in public domain and/or on paid databases)
12.1.5. Recent Developments
12.2. Ingredion Incorporated
12.2.1. Overview
12.2.2. Description
12.2.3. Product Portfolio
12.2.4. Financials (Data as available in public domain and/or on paid databases)
12.2.5. Recent Developments
12.3. Pure Circle Ltd.
12.3.1. Overview
12.3.2. Description
12.3.3. Product Portfolio
12.3.4. Financials (Data as available in public domain and/or on paid databases)
12.3.5. Recent Developments
12.4. Sweetly Stevia USA
12.4.1. Overview
12.4.2. Description
12.4.3. Product Portfolio
12.4.4. Financials (Data as available in public domain and/or on paid databases)
12.4.5. Recent Developments
12.5. Fooditive B.V.
12.5.1. Overview
12.5.2. Description
12.5.3. Product Portfolio
12.5.4. Financials (Data as available in public domain and/or on paid databases)
12.5.5. Recent Developments
12.6. The Real Stevia Company
12.6.1. Overview
12.6.2. Description
12.6.3. Product Portfolio
12.6.4. Financials (Data as available in public domain and/or on paid databases)
12.6.5. Recent Developments
12.7. Stevia Biotech Pvt. Ltd.
12.7.1. Overview
12.7.2. Description
12.7.3. Product Portfolio
12.7.4. Financials (Data as available in public domain and/or on paid databases)
12.7.5. Recent Developments
12.8. DuPont
12.8.1. Overview
12.8.2. Description
12.8.3. Product Portfolio
12.8.4. Financials (Data as available in public domain and/or on paid databases)
12.8.5. Recent Developments
12.9. Cargill Inc.
12.9.1. Overview
12.9.2. Description
12.9.3. Product Portfolio
12.9.4. Financials (Data as available in public domain and/or on paid databases)
12.9.5. Recent Developments
12.10. GLG Lifetech Corporation
12.10.1. Overview
12.10.2. Description
12.10.3. Product Portfolio
12.10.4. Financials (Data as available in public domain and/or on paid databases)
12.10.5. Recent Developments
13. Appendix

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