Electrical steels are distinguished by their excellent electro-magnetic properties. There are two major types of fully processed electrical steels: grain-oriented (GO) and non-oriented (NO). Non-oriented electrical steel features homogeneous magnetic properties in all directions. They are widely used as iron core materials in rotating machines ranging from large power generators to tiny precision electric motors. They are also used in the iron core of small power transformers.
The classification of Non-Grain Oriented Electrical Steel includes semi-processed and fully processed product, and in 2020 the proportion of semi-processed Non-Grain Oriented Electrical Steel sales is about 83.63%, and the proportion is in decreasing trend. High grade fully processed product will generate higher growth.
Non-Grain Oriented Electrical Steel is widely used in power generator, motor, household appliance, automotive and other field. The largest consumption area of Non-Grain Oriented Electrical Steel is motor, and the proportion in 2020 is about 46.26%. As the global electric vehicle market grows, demand for EV materials such as electrical steel is growing in lockstep. Motors determine the horsepower of a vehicle, and are central to the efficiency and overall performance of EVs. Thus, high-quality electrical steels are sought after by automakers vying for the biggest share of the growing EV market. Automotive is the fastest growth sector.
For regions, Asia, especially China, is the largest production and consumption region, followed by Europe and US. Japan and Korea also play important rule in the market, large quantity of Non Grain-oriented Electrical Steel is exported to the world every year. This situation will not change in the short term.
The production of Non Grain-oriented Electrical Steel, shows a high concentration, and the core technology of production process held in several giant companies. Baowu, Shougang Group, TISCO, Nippon Steel, Ansteel, Posco, JFE Steel, Thyssen Krupp, Voestalpine, ArcelorMittal, NLMK, CSC, AK Steel, BX Steel are the leaders of the industry, and they hold key technologies and patents, with high-end customers. The intense competition will continue in the future.
In the last several years, global market of Non-Grain Oriented Electrical Steel developed smoothly, with an average growth rate of 4.35%. In 2020, global revenue of Non-Grain Oriented Electrical Steel is over 11.65 B USD; the actual production is about 13.56 million tons.
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