Electrical Steel Coatings Market Market Analysis

By Material Type (Chrome-free, Chrome-containing, Formaldehyde-free, MgO)

By 2037, chrome-containing segment is estimated to capture over 47.5% electrical steel coatings market share. Chromium is vital in various end use industries including stainless steel production due to its ability to enhance corrosion resistance and durability. According to the U.S. Geological Survey Publications Warehouse, 18% of chromium is used in stainless steel production. Chromium is also essential in chemicals and pigment production that are widely used in various manufacturing processes, fuelling the application area of chrome-containing coatings.

Application (Transformers, Electric Motors, Generators, Inductors)

The transformers segment is anticipated to drive the electrical steel coatings market with a notable market share. The rise of renewable energy sources, such as wind and solar, requires efficient transformers for grid integration. This increases the demand for electrical steel coatings that can enhance the performance of transformers in these applications. Moreover, ongoing urbanization and infrastructure projects necessitate the installation of new transformers, leading to higher demand for electrical steel coatings used in transformer cores.

Our in-depth analysis of the electrical steel coatings market includes the following segments: