Global Electrical Steel Market is estimated at USD 25.32 billion in 2019 and expected to reach USD 45.77 billion growing at a CAGR of 6.8% during the forecast period. According to the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), by 2050 the total population in the Asia-Pacific region is expected to reach 5.1 billion, of which the urban population is estimated to be around 64%.
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Key Developments:
• In September, 2016, Baosteel and Wuhan Iron & Steel (Group) Co. (China) merged to broaden the former’s product
portfolio and strengthen its market position in the Chinese steel industry.
• In February, 2016, Nippon Steel & Sumitomo Metal Corporation (NSSMC) integrated its two consolidated subsidiaries,
Siam United Steel (1995) Co., Ltd. (SUS) (Thailand), a manufacturer of cold-rolled steel sheets and Nippon Steel
&Sumikin Galvanizing (Thailand) Co., Ltd. (NSGT), a manufacturer of hot-dip galvanized steel sheets for automobile.
The main aim of this integration is to take advantage of their locations. This would enable the company to increase
its competitiveness in the flat steel market of Thailand and the ASEAN region.
• In February 2017, Arcelor Mittal formed a joint venture with Cellino Group to hold a 35% share. STEELCAME’s assets
will consist of four former SoluStil sites in the Rhone-Alpes region, namely La Boisse, Trevoux, Arnas, Montelier,
together with Stalobrex, a Polish steel processing business owned by ArcelorMittal. This will help strengthen its
position in the competitive market.
Market Segmentation:
By Type:
• Grain-Oriented
• Non Grain-Oriented
By Application:
• Transformers
• Motors
• Inductors
Companies Covered:
Companies Covered: Major Companies profiled in the report which are key players in the global electrical steel market. ArcelorMittal, POSCO, Voestalpine Group, Baosteel, Nippon Steel & Sumitomo Metal Corporation, United States Steel Corporation, Steel Authority of India Limited., Tata Steel, JFE Steel Corporation, and Essar Steel...
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