SAIL, POSCO and ChinaSteel are Dominating in the Asia-Pacific Electrical Steel Market in 2019

Asia-Pacific Electrical Steel Market is expected to grow with the CAGR of 8.1% in the forecast period of 2020 to 2027. The years considered for study are as mentioned below.

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Asia-Pacific electrical steel market is a highly consolidated market, which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in Asia-Pacific electrical steel market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio. For instance, in May 2019, voestalpine AG has decided to launch the two electrical sheet products for the automotive industry which are sovac and backlack-V. This development has helped the company to increase revenue in the future.

SAIL is the dominating player in Asia-Pacific electrical steel market. The other key players existing in the electrical steel market are POSCO, ChinaSteel, JFE Steel Corporation (a subsidiary of JFE Holdings, Inc.), Hebei Puyang Iron and Steel Group, Electrosteel Steels Ltd. (a subsidiary of Vedanta Resources Limited), voestalpine AG, SHAGANG GROUP Inc., ArcelorMittal, NIPPON STEEL CORPORATION, Tata Steel, Hesteel Group Tangsteel Company, thyssenkrupp AG, ATI, Aperam, Baosteel Group Hu among others.

Asia-Pacific Electrical Steel MarketSAIL:

SAIL is headquartered in New Delhi, India which was founded in 1959. The company is engaged in the manufacturing of broad range of steel products. The company have business segments including BSP, DSP, RSP, BSL, ISP, ASP, SSP, VISL and others out of which market focused business segment is RSP. The company have various product categories which are long products, flat products, pipes, railway products, semis and other products out of which market our focused product lies under the flat products category.

For instance,

  • In July 2020, SAIL company has launched a new alloy named R 260 grade which is used in the Indian railway. This development helps the company to increase product portfolio and revenue in the near future.

The company has wide global presence in Asia-Pacific. The company also earn from several subsidiaries such as Rourkela Steel Plant (India), NSPCL (India), Bhilai Steel Plant (India), Visvesvaraya Iron and Steel Limited (India), Salem Steel Plant (India), mjunction Services Limited (India) among others.

POSCO:

POSCO is headquartered in Gyeongsangbuk-do, Republic of Korea which was founded in 1967. The company is engaged in the manufacturing of innovation and developments in technology and products for different industries. The company have wide range of products under categories such as hot rolled steel, wire rod, galvanized steel, electrical steel, titanium, steel plate, cold rolled steel, electrical galvanized steel and stainless steel out of which our market focused product categories are electrical steel and electrical galvanized steel.

For instance,

  • In October 2019, POSCO designed a new electrical steel product for the automotive machines such as hot-rolled steel, cold-rolled steel, wire rods, thick plate steel. This development helped the company to increase the customer base and revenue in near future.

The company has wide global presence across the Asia-Pacific. In addition to it, the company also generates its revenue from the various subsidiary companies such as POSCO India (India), POSCO INTERNATIONAL (South Korea), POSCO Chemical Co (South Korea), POSCO ICT (South Korea), POSCO Engineering & Construction Co., Ltd. (South Korea) and many others.

ChinaSteel:

ChinaSteel is headquartered in Kaohiung, Taiwan and was founded in 1971. The company is engaged in the manufacturing of plates, bars, wire rods, hot and cold rolled coils, electrogalvanized coils, electrical steel coils, hot-dip galvanized coils, and Ti/Ni-base alloy. The company deals in business segments including steel products, non-ferrous materials, construction contracts revenue, freight and service revenue and others out of which our market focused segment is steel products. The company offers wide range of product categories such as customer service, production and e-commerce under which production is the market focused category.

The company has presence in Asia-Pacific with its various subsidiaries such as Dragon Steel Corporation (China), Goang Yaw Investment Corporation (China), Sing Da Marine Structure Corporation (Taiwan), C.S. Aluminium Corporation (Taiwan), China Steel Global Trading Corporation (China) and many others.