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The global electrical steel market was valued at $15.0 billion in 2019, and is projected to reach $21.0 billion by 2027, growing at a CAGR of 5.8% from 2020 to 2027.
Silicon steel may be a soft magnetic material that’s utilized in electric power transformers, motors, and generators. It has a high silicon content of about 3.2 mass percent concentration, which increases the electrical resistivity of iron and, therefore, reduces eddy current losses.
Heat-treated steel plates are generally applied for changing the mechanical as well as physical features of the steel without altering the shape of the steel.
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