High magnetic induction grain-oriented silicon steel Market analysis research and trends report for 2019 - 2025

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High Magnetic Induction Grain-oriented Silicon
Steel Market Growth Outlook with Industry Review
and Forecast 2019-2025
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Global Market Scenario of High Magnetic Induction
Grain-oriented Silicon Steel Industry

• High magnetic induction grain-oriented silicon
  steel market size will experience significant
  growth in Asia Pacific owing to propelling demand
  from power industry in the forecast period.
• It is a type of grain-oriented silicon steel
  alloys which possess high permeability.
  Grain-oriented silicon steel alloys are generally
  known as electrical steel. It has a symmetrical
  structure where cubic crystals are cumulatively
  arranged in the direction of rolled steel plate.
  It is made by a chain of annealing and rolling
  treatments.
• Power transmission industry will chiefly drive
  the high magnetic induction grain-oriented
  silicon steel market size in the coming years.
  The region is witnessing fastest industrial
  growth till date, which has resulted in high
  electricity demand in the past few years.
• According to the World Bank, the number of
  emerging economies in Asia Pacific including
  India, Vietnam, Indonesia, Thailand, Cambodia
  Myanmar, etc. have an undeveloped power sector
  with low access rates and low quality of supply,
  as per capita electricity consumption rate.
• Therefore, countries such as India and Thailand
  are proactively taking steps to increase their
  electricity access for household and commercial
  sector by expanding the transformer grid across
  their region. As power installation plans will
  accelerate in future, the product demand is
  expected to increase over the forecast period.

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• Regional Trends-
• Asia Pacific is likely to contribute
  significantly to the overall high magnetic
  induction grain-oriented silicon steel market
  growth in the forecast timeframe. India and China
  lead the region in both manufacturing and
  consumption of product.
• According to a 2014, Asia Development Bank
  report, the energy need of Asia Pacific is
  expected to increase over 70 between 2010 and
  2035, with Chinas share accounting for 38 while
  Indias share to be over 13. The rest of Asia
  Pacific is expected to account for 64.
• North America and Europe have a satisfactory
  electricity access, thus will show moderate gains
  to the overall high magnetic induction
  grain-oriented silicon steel market size by 2025.

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• Competitive Trends
• The companies functioning in high magnetic
  induction grain-oriented silicon steel market are
  Thyssenkrupp, Arnold Magnetic Technologies Corp.,
  Cogent power, AK Steel Intl., Posco, Cogent Power
  Limited, JFE Steel Corporation, Baosteel. and
  Nippon SteelSumitomo Metal. In 2018,
  Thyssenkrupp announced that it was starting the
  production of grain oriented electrical steel
  (CRGO) at its Nashik plant in India.

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