The metal coil lamination market Size was estimated at 19.6 (USD Billion) in 2022. The metal coil lamination market is expected to grow from 20.27 (USD Billion) in 2023 to 27.5 (USD Billion) by 2032. The metal coil lamination market CAGR (growth rate) is expected to be around 3.45% during the forecast period (2024 - 2032).
Key Metal Coil Lamination Market Trends Highlighted
Key market drivers for metal coil lamination include the rising demand for lightweight materials in various industries such as automotive and packaging. Increasing environmental concerns and the need for energy-efficient solutions are also contributing to the market's growth.
Additionally, advancements in production technologies and the development of new alloys with enhanced properties are creating opportunities for manufacturers to expand their product offerings.
Recent trends in the metal coil lamination market include the integration of sensors and electronics into laminated coils, offering improved functionality and connectivity.
The increasing adoption of automation and robotics in manufacturing processes is also driving the demand for customized and precision-engineered laminations.
Moreover, the growing popularity of electric vehicles and the focus on renewable energy sources are expected to create significant opportunities for the market in the coming years.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Metal Coil Lamination Market Drivers
Growing Demand for Energy-Efficient Electrical Equipment
One of the main growth drivers of the metal coil lamination market is the increasing adoption of energy-efficient electrical equipment. Metal coil laminations are used in transformers, motors, and generators to decrease the loss of energy and raise the level of efficiency.
Since today, the government and various industries worldwide are concerned with reducing carbon emissions and are promoting sustainable approaches, the importance of energy-efficient electrical equipment is likely to grow, driving the expansion of the metal coil lamination market.
Expansion of Renewable Energy Sector
The expansion of the renewable energy sector is another key driver for the growth of the metal coil lamination market. Metal coil laminations are used in solar panels, wind turbines, and other renewable energy devices to improve their efficiency and performance.
As the world transitions towards renewable energy sources, the demand for metal coil laminations is expected to increase significantly.
Technological Advancements in Metal Coil Lamination
Technological advancements in metal coil lamination are also contributing to the growth of the metal coil lamination market.
Manufacturers are constantly innovating and developing new techniques to improve the quality and performance of metal coil laminations.
These advancements, such as the use of new materials and improved manufacturing processes, are leading to the production of laminations with higher efficiency, lower losses, and longer lifespans.
Metal Coil Lamination Market Segment Insights
Metal Coil Lamination Market Lamination Type Insights
Introduction The metal coil lamination market is segmented based on the lamination type into transformer grade, motor grade, and silicon steel grade. The transformer grade segment occupied the largest market share in 2023 and is expected to continue leading the market throughout the forecast period.
The growth of this segment is attributable to an increasing number of industries where transformers are used, such as power generation, transmission, and distribution. The motor grade segment is anticipated to be the second-largest market and witness the fastest growth in the coming years.
This growth can be attributed to a surge in the number of applications in which electric motors are used, such as industrial machines, electric vehicles, and home appliances. The silicon steel grade is expected to grow at a steady pace during the forecast period because of its excellent magnetic properties, which have increased its use in high-efficiency motors and transformers.
Market Value The metal coil lamination market for transformer grade was worth 8.5 billion USD in 2023 and is anticipated to be 11.2 billion USD by 2032, exhibiting a CAGR of 3.4% over the forecast period.
The motor grade segment is to grow from 6.2 billion USD in 2023 to 8.3 billion USD by 2032, with a CAGR of 3.5%. The silicon steel grade segment is expected to grow from 5.5 billion USD in 2023 to 7.5 billion USD by 2032, growing at a CAGR of 3.3%.
Market Drivers The metal coil lamination market is expected to grow due to an increasing amount of electrical equipment being used as more energy-efficient in nature.
Factors that may influence the market in the coming years are the increasing number of electric vehicles, the promotion of reuse and appropriate disposal and requirement of these devices for generating renewable energy, the increasing number of construction works, and places on Earth where higher numbers of citizens are accommodated and work, especially in developing countries.
Major Companies Few of the major companies in the metal lamination market include JFE Steel Corporation, Nippon Steel Corporation, ArcelorMittal, Baosteel Group, and ThyssenKrupp AG. They are focusing on expanding their businesses through acquisitions, partnerships with local companies, and growing expertise in product development.
The metal coil lamination market is to grow slowly during the forecast period. Development is said to be a result of an increasing number of energy-efficient electrical equipment, and a greater number of electric vehicles being produced.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Metal Coil Lamination Market Application Insights
The application segment of the metal coil lamination market holds significant importance, with various applications driving market growth. Transformers, electric motors, and generators are key applications that utilize metal coil lamination, contributing to the overall market revenue.
Transformers accounted for a significant share of the market in 2023, and this trend is expected to continue in the coming years. The rising demand for electricity and the expansion of the power grid infrastructure are major factors driving the growth of the transformer segment.
Electric motors, widely used in industrial and commercial sectors, are another major application of metal coil lamination. The increasing adoption of energy-efficient motors and the growing manufacturing sector is expected to fuel the demand for metal coil laminations in this segment.
Generators, used for power generation in remote areas and as backup power sources, are also expected to contribute to market growth. The growing demand for reliable and portable power sources is driving the demand for generators, which in turn is expected to boost the demand for metal coil laminations.
Metal Coil Lamination Market Core Configuration Insights
The Core Configuration segment of the metal coil lamination market is segmented into CRGO Lamination and CRNO Lamination. CRGO Lamination is expected to dominate the market with a larger share in 2023, owing to its superior magnetic properties and high efficiency in electrical applications.
CRNO Lamination is gaining traction in emerging markets due to its cost-effectiveness and suitability for low-power applications. The increasing adoption of electric vehicles and renewable energy sources is driving the demand for Metal Coil Lamination in power transformers, motors, and generators.
The market growth is attributed to rising industrialization, urbanization, and technological advancements in various industries.
Metal Coil Lamination Market Regional Insights
The metal coil lamination market is segmented into North America, Europe, APAC, South America, and MEA.
Among these regions, APAC is expected to hold the largest market share in the coming years, owing to the increasing demand for metal coil lamination in the region's automotive and construction industries.
The metal coil lamination market in APAC is projected to reach a value of USD 12.54 billion by 2024, exhibiting a CAGR of 4.5% during the forecast period. North America and Europe are also expected to witness significant growth in the metal coil lamination market.
The growing demand for lightweight and fuel-efficient vehicles in these regions is driving the demand for metal coil lamination. In addition, the increasing construction activities in these regions are also contributing to the growth of the market.
South America and MEA are expected to experience moderate growth in the metal coil lamination market. The growth in these regions is attributed to the increasing industrialization and urbanization. The metal coil lamination market in South America is projected to reach a value of USD 2.45 billion by 2024, exhibiting a CAGR of 3.8% during the forecast period.
The MEA market is expected to reach a value of USD 2.23 billion by 2024, exhibiting a CAGR of 4.2% during the forecast period.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Metal Coil Lamination Market Key Players and Competitive Insights
Major players in the metal coil lamination market are focusing on expanding their presence through strategic partnerships, joint ventures, and acquisitions. Leading metal coil lamination market players are investing heavily in research and development to introduce innovative products and services.
This competitive landscape is expected to intensify further in the coming years as new entrants emerge and established players expand their market share.
The metal coil lamination market development is driven by the increasing demand from various end-use industries, such as automotive, electrical, and construction. The market is also benefiting from the growing trend of miniaturization and lightweight in various applications.
A leading company in the metal coil lamination market is Thyssenkrupp AG. The company offers a wide range of metal coil lamination products, including electrical steels, silicon steels, and specialty steels.
Thyssenkrupp AG has a strong presence, with manufacturing facilities in Europe, Asia, and North America. The company is focused on providing high-quality products and services to its customers. Thyssenkrupp AG is also investing heavily in research and development to develop new products and processes.
A competitor company in the metal coil lamination market is ArcelorMittal. The company offers a wide range of metal coil lamination products, including electrical steels, silicon steels, and non-oriented steels.
ArcelorMittal has a strong presence, with manufacturing facilities in Europe, Asia, and North America. The company is focused on providing high-quality products and services to its customers. ArcelorMittal is also investing heavily in research and development to develop new products and processes.
Key Companies in the metal coil lamination market Include
Metal Coil Lamination Market Developments
Recent market trends indicate a steady growth in the metal coil lamination market. The market is influenced by factors such as increasing demand from the automotive and construction industries, rising disposable incomes in developing economies, and government regulations for energy efficiency.
Strategic collaborations and acquisitions among key players have intensified competition in the market. Technological advancements in lamination techniques and the development of eco-friendly materials are expected to create new opportunities for growth.
Metal Coil Lamination Market Segmentation Insights
| Report Attribute/Metric | Details |
| Market Size 2022 | 19.6(USD Billion) |
| Market Size 2023 | 20.27(USD Billion) |
| Market Size 2032 | 27.5(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 3.45% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Sumitomo Metal Industries, ThyssenKrupp, Severstal, China Steel Corporation, Formosa Plastics Corporation, Tata Steel, JFE Steel, POSCO, Hyundai Steel, ArcelorMittal, Nucor, Nippon Steel Corporation, Baosteel Group |
| Segments Covered | Lamination Type, Application, Core Configuration, Regional |
| Key Market Opportunities | Electric vehicle production expansion Growing demand for construction Industrial automation and robotics Renewable energy sector growth |
| Key Market Dynamics | Growing demand for electric vehicles Increasing infrastructure spending Rise of renewable energy Technological advancements Focus on sustainability |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The metal coil lamination market reached a valuation of 20.27 billion USD in 2023.
The metal coil lamination market is estimated to grow at a CAGR of 3.45% from 2024 to 2032.
The metal coil lamination market is projected to reach 27.5 billion USD by 2032.
The Asia-Pacific region is expected to dominate the metal coil lamination market throughout the forecast period.
Major applications of Metal Coil Lamination include transformers, motors, and generators.
Some of the key players in the metal coil lamination market are Thyssenkrupp, ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation, and JFE Steel Corporation.
Increasing demand for energy-efficient electrical devices and rising infrastructure development are driving the growth of the metal coil lamination market.
Fluctuating raw material prices and intense competition are some of the challenges faced by the metal coil lamination market.
Technological advancements and the growing adoption of electric vehicles present significant opportunities for the metal coil lamination market.
Increasing environmental concerns are driving the demand for sustainable metal coil lamination solutions, creating opportunities for market players.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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