An Incisive, In-depth Analysis on the Electrical Steel Coatings Market
This study offers a comprehensive, 360 degree analysis on the Electrical Steel Coatings market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Electrical Steel Coatings market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Growth in demand for electrical steel likely to play a direct role in the organic growth of the global electrical steel coatings market
The global electrical steel coatings market is expected to increase at an above average CAGR over the forecast period (2016–2026). The global electrical steel coatings market was estimated to be valued at over US$ 200 Mn by 2016 end and is projected to increase at a CAGR of 5.3%, creating an incremental opportunity of US$ 141.7 Mn between 2016 and 2026. In terms of volume, the global electrical steel coatings market is forecast to reach more than 55,000 Tonnes by the end of 2026. APEJ is expected to exhibit promising growth in the global electrical steel coatings market, registering a CAGR of 6.4% over the forecast period. Driven by the consumption growth of electrical steel across various end-use applications, the APEJ electrical steel coatings market is expected to witness a sustainable growth rate over the coming years. China and India are likely to provide substantial opportunities in the global electrical steel coatings market over the coming years.
Consumption growth of electrical steel in a wide range of applications, coupled with the global trend of energy conservation in various electrical equipment are expected to fuel demand for electrical steel coatings
Electrical steel finds its utilisation in various small and large electrical equipment, including motors, inductors, transformers, etc. Furthermore, growth of the energy and power sector is leading to an increased demand for supporting infrastructure, wherein electrical steel finds its use. This, in turn, is expected to drive the growth of electrical steel as well as coatings.
Performance analysis of the coating type segment
On the basis of coating type, the electrical steel coatings market is segmented into C2, C3, C4 C5 and C6. C5 segment is projected to account for a major share of the global electrical steel coatings market through 2026. The physical and chemical properties imparted by the C5 type of coating makes it the coating of choice for electrical steel. In 2016, the C5 segment dominated the global market with more than two-third revenue share, followed by the C6 and C3 segments respectively.
The C5 segment is anticipated to expand at a CAGR of 5.8% over the forecast period to reach a market value in excess of US$ 265 Mn by the end of 2026. The demand for C5 coating – applied on both grain and non-grain oriented electrical steel – is expected to remain high across various regions. On the other hand, the C6 segment is estimated to exhibit a steady growth rate through the forecast period. C3 segment, witnessing a CAGR of 3.1%, is expected to represent 3.8% share of the total incremental opportunity created between 2016 and 2026.
Market analysis of coating type segment
C2: C2 segment is expected to reach a market value of more than US$ 9.0 Mn by 2026 end.
C3: Registering a CAGR of 3.1% over the forecast period, the segment is anticipated to reach a value of more than US$ 20 Mn by 2026 end.
C4: C4 segment is expected to represent relatively small market share by the end of 2026.
C5: C5 segment is expected to hold major market share throughout the forecast period, accounting for 84% share of the total incremental opportunity created between the years 2016 and 2026.
C6: C6 segment is projected to create an incremental $ opportunity of US$ 13 Mn during the forecast period.
Decrease in end-use sales points among potential buyers
Competition in the global electrical steel coatings market is intensifying. Electrical steel manufacturers are increasingly developing their own R&D and manufacturing facilities to produce coatings with desired physical and chemical characteristics. Due to this, the number of total end-use sales points/potential buyers are decreasing, thereby further swelling the competition scenario in the remaining open market.
Future Market Insights in its report titled “Electrical Steel Coatings Market: Global Industry Analysis and Opportunity Assessment, 2016–2026” offers detailed insights and in-depth research on the global electrical steel coatings market over a 10 year forecast period 2016 – 2026. The report covers the important factors driving the growth of the global electrical steel coatings market, untapped opportunities for manufacturers, trends and developments shaping the dynamics of the global electrical steel coatings market and other insights across various key segments.
The report identifies the drivers and restraints affecting the growth of the global electrical steel coatings market. Changing trends are also analysed and incorporated in the report to equip the client with exhaustive information about the market resulting in better decision making. Macroeconomic factors that directly and indirectly affect the growth of the global electrical steel coatings market are also incorporated in the report.
Global electrical steel coatings market segmentation
To understand and assess opportunities in the global electrical steel coatings market, we have divided the report into five sections based on market segmentation as under:
By Coating Type
By Material Type
The market value for all segments is taken in US$ Mn and the market volume is also identified in tonnes for all the segments. A section of the report highlights country-wise electrical steel coatings demand. It provides a market outlook for 2016–2026 and sets the forecast within the context of the global electrical steel coatings market, including the new technological developments as well as product offerings for niche applications in the global electrical steel coatings market.
In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view. The report provides detailed market share analysis of the electrical steel coatings market on the basis of key manufacturers. Comprehensive profiles of manufacturers are also included within the scope of the report to evaluate strategies, key offerings and recent developments in the global electrical steel coatings market.
Our research methodology
Market volume is inferred through in-depth secondary research and validated from industry experts through primary interviews. Each interview is thoroughly analysed and average market volume is deduced and reconfirmed prior to incorporating in the report. The price of electrical steel coatings is deduced on the basis of coating type, where the average price of each coating type application is inferred across all the seven assessed regions. The market value of the global electrical steel coatings market is thus calculated from the data provided by the average selling price and market volume.
For the 10 year forecast of the global electrical steel coatings market, various macroeconomic factors and changing trends have been observed, giving an idea about the future of the market. Other important factors considered to arrive at market forecast are the size of the current market, inputs from the demand side and the supply side and other dynamics shaping the scenario of the global electrical steel coatings market. In the compilation of the report, the forecast is conducted in terms of CAGR, while other important criteria such as year-on-year growth and absolute dollar opportunity have also been incorporated presenting report audiences with crystal clear insights and future opportunities as far as the global electrical steel coatings market is concerned.