Electric motors led demand for electrical steel in 2018, according to a recent report by research and consulting firm Fact.MR.
Demand for electrical steel is estimated to reach 15,9000 kt in 2018, an increase of almost 900 kt or 6.7 percent from 2017. Fact.MR attributed the increase in demand to increased applications for electrical steel in the automotive industry, particularly in EVs.
Electric motors accounted for over 71 percent of the electrical steel used in 2017, according to the report. Motors with power units of 1,000 hp or more are expected to lead demand for electrical steel in electric motors.
The report estimates that non-grain oriented electrical steel (NGOES), which has multiple applications in EVs, will represent 11,860 kt or three-fourths of the demand for electrical steel in 2018.