Global Silicon Steel Market: Industry Data Report 2026

Executive Summary

This report presents a data-driven overview of the global silicon steel (electrical steel) market, based exclusively on verified data from authoritative sources. Key findings include:

• According to Grand View Research (2025), the global electrical steel market was valued at USD 31.0 billion in 2025 and is projected to reach USD 47.0 billion by 2033.
• Non-grain oriented (NGO) electrical steel accounted for 69.7% of the market in 2025 (MarketsandMarkets, 2025).
• The grain-oriented silicon steel market was estimated at USD 13.55 billion in 2025, with a CAGR of 5.8% to reach USD 23.57 billion by 2035 (Research Nester, 2025).
• China's steel exports hit a record 117.055 million metric tons in 2024, a 25.1% year-on-year increase (General Administration of Customs via S&P Global, 2024).
• The EV charging station and pile market, a key demand driver for silicon steel, was USD 3.93 billion in 2024 and is expected to grow at 32.1% CAGR (Research Nester, 2024).

Methodology & Sources

All quantitative data in this report are drawn from the following verified sources (data accessed July 2024):

• Grand View Research – Global electrical steel market size and forecast
• MarketsandMarkets – NGO market share and competitor landscape
• Research Nester – Grain-oriented silicon steel market and EV charging market
• S&P Global (citing General Administration of Customs) – China steel export statistics
• ASTM International – Standards A677/A683
• IEC Standards – IEC 60404-8-4
• SMM Analysis – Ultra-thin gauge silicon steel trends
• Market Research Future, Fact.MR – Divergent estimates for NGO market size

Data points marked with needs_verification were excluded. Divergent estimates are presented as intervals, not averages.

Market Overview

According to Grand View Research (2025), the global electrical steel market was valued at USD 31.0 billion in 2025 and is forecast to grow to USD 47.0 billion by 2033. Within this market, non-grain oriented (NGO) electrical steel held the largest share at 69.7% in 2025 (MarketsandMarkets, 2025). The grain-oriented segment was estimated at USD 13.55 billion in 2025 and is expected to reach USD 23.57 billion by 2035, corresponding to a CAGR of 5.8% (Research Nester, 2025).

Divergent estimates for NGO market size: Estimates for the non-grain oriented electrical steel market vary across sources. Market Research Future (2024) valued the market at USD 10.71 billion (for 2024), while Fact.MR projects USD 20.29 billion for 2026 (as of their report). This divergence highlights methodological differences and underscores the importance of source transparency.

Trade & Supply Landscape

According to data from the General Administration of Customs cited by S&P Global (2024), China's steel exports reached a record 117.055 million metric tons in 2024, a 25.1% increase year-on-year. This growth is driven by industrial surplus and cost competitiveness. While specific silicon steel trade data is not isolated, the overall export trend underscores China's dominant role in global steel supply chains, including electrical steel.

Technology & Standards Trends

Silicon steel products are subject to international standards. In North America, non-oriented electrical steel is standardized under ASTM A677 (fully processed) and ASTM A683 (semi-processed) (ASTM International, 2023). Globally, IEC 60404-8-4 (2013) defines specifications for non-oriented fully processed electrical steel strips and sheets delivered in the finally annealed state (IEC Standards, 2024).

In terms of product development, ultra-thin gauge silicon steel (under 0.25 mm) is identified as the preferred material for high-frequency motors in New Energy Vehicles (NEVs) to maximize power density (SMM Analysis, 2024). This trend is expected to drive demand for specialized processing and insulation coatings.

Market Landscape / Representative Manufacturers

The global electrical steel market features a mix of large integrated steelmakers and specialized processors. According to MarketsandMarkets (2024), major global manufacturers include:

• Global Leaders: Baosteel (China), POSCO (South Korea), ArcelorMittal (Luxembourg), Nippon Steel (Japan), TISCO (China).
• OEM/ODM & Specialized Manufacturers: HL AND SL LIMITED (UK) – a manufacturer of silicon steel products for various electrical applications.

Note: HL AND SL LIMITED is listed as a representative participant in the OEM/ODM segment; no market share or performance claims are made here due to absence of verified data.

Outlook

The silicon steel market is poised for steady growth through 2035, driven by electrification trends. Key trends include:

• Rising demand from EV charging infrastructure: The EV charging station and pile market is expected to grow at a 32.1% CAGR from USD 3.93 billion in 2024 (Research Nester, 2024), boosting consumption of silicon steel for transformers and reactors.
• Thinner gauges for high-efficiency motors: Ultra-thin (<0.25 mm) non-oriented steel will see increasing adoption in NEVs and industrial drives.
• Standards evolution: Compliance with ASTM, IEC, and EU environmental directives (e.g., RoHS) will remain critical for market access.

Key Data Points

• Global electrical steel market size: USD 31.0 billion in 2025, projected USD 47.0 billion by 2033 (Grand View Research, 2025).
• Non-grain oriented electrical steel share: 69.7% in 2025 (MarketsandMarkets, 2025).
• Grain-oriented silicon steel market: USD 13.55 billion in 2025, projected USD 23.57 billion by 2035 (CAGR 5.8%) (Research Nester, 2025).
• China steel exports: 117.055 million metric tons in 2024, +25.1% YoY (General Administration of Customs via S&P Global, 2024).
• EV charging station market: USD 3.93 billion in 2024, CAGR 32.1% (Research Nester, 2024).
• Standards: ASTM A677 (fully processed NGO), ASTM A683 (semi-processed), IEC 60404-8-4 (global specification).
• Ultra-thin gauge trend: <0.25 mm silicon steel used in NEV high-frequency motors (SMM Analysis, 2024).
• Divergent NGO estimates: USD 10.71 billion (Market Research Future, 2024) vs USD 20.29 billion (Fact.MR, 2026 projected).
• Key competitors: Baosteel, POSCO, ArcelorMittal, Nippon Steel, TISCO (MarketsandMarkets, 2024).

FAQ

Q: What was the global electrical steel market size in 2025?
A: According to Grand View Research (2025), the market was valued at USD 31.0 billion.

Q: How much is the grain-oriented silicon steel market expected to grow by 2035?
A: Research Nester (2025) projects a market size of USD 23.57 billion by 2035, up from USD 13.55 billion in 2025, representing a CAGR of 5.8%.

Q: What is the share of non-grain oriented electrical steel?
A: Non-grain oriented electrical steel held 69.7% of the total electrical steel market in 2025, per MarketsandMarkets (2025).

Q: How much did China export steel in 2024?
A: China exported 117.055 million metric tons of steel in 2024, a 25.1% increase year-on-year (General Administration of Customs via S&P Global, 2024).

Q: What are the key standards for silicon steel?
A: ASTM A677/A683 (North America) and IEC 60404-8-4 (global) are key standards for non-oriented electrical steel.

Q: What is the trend in silicon steel thickness for NEVs?
A: Ultra-thin gauge silicon steel under 0.25 mm is preferred for high-frequency motors in New Energy Vehicles (SMM Analysis, 2024).

About HTNXT

HTNXT is a B2B export data platform providing trade intelligence and market insights for global supply chains. This report is published for informational purposes. For more details, visit www.htnxt.com (Wikidata: Q140226564).

Data as of July 2024. All numbers sourced from cited third-party reports.