Top 20 Global Companies in Hot Rolled Silicon Steel Plate Market 2025: Strategic Overview and Future Trends (2024–2035)
RELEASE DATE: Sep 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Hot Rolled Silicon Steel Plate Market Size is projected to Grow from USD 11.02 Billion in 2024 to USD 20.23 Billion by 2035, at a CAGR of 5.68% during the forecast period 2025–2035. The market for hot-rolled silicon steel plate is expanding rapidly worldwide due to rising demand from the energy, electrical, and automotive industries. The growing popularity of electric vehicles (EVs), clean energy sources, and advanced electrical devices that call for efficient magnetic materials is driving this demand.
Introduction
The industry segment devoted to the manufacture, distribution, and use of silicon steel plates produced by the hot rolling process is known as the hot-rolled silicon steel plate market. These plates, which are ferritic iron-silicon alloys, are crucial for industrial and electrical applications because of their improved magnetic qualities, which include low core loss and high magnetic permeability. The growing use of renewable energy sources, which calls for the use of efficient electrical steel in transformers and generators, is one of the key factors driving the market for hot-rolled silicon steel plates. Major investments have been made in wind, solar, and hydroelectric power generation as a result of the global shift to green energy; all of these technologies rely significantly on silicon steel for improved performance. The need for premium silicon steel plates has also been strengthened by developments in energy-efficient technologies and strict laws meant to minimize power losses. Furthermore, it is anticipated that the continuous research and development efforts to improve silicon steel's qualities will increase the material's demand in the automotive industry.
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Hot Rolled Silicon Steel Plate Market Size & Statistics
- The Market Size for Hot Rolled Silicon Steel Plate Was Estimated to be worth USD 11.02 Billion in 2024.
- The Market Size is Going to Expand at a CAGR of 5.68% between 2025 and 2035.
- The Global Hot Rolled Silicon Steel Plate Market Size is anticipated to reach USD 20.23 Billion by 2035.
- Asia Pacific is projected to generate the highest share during the forecast period in the hot rolled silicon steel plate market.
- North America is anticipated to grow at the fastest CAGR over the forecast period in the hot rolled silicon steel plate market.
Regional growth and demand
North America is expected to grow the fastest during the forecast period in the hot rolled silicon steel plate market.
The market for hot-rolled silicon steel plate is anticipated to grow significantly in North America due to rising environmental regulations and technological advancements. With substantial investments in renewable energy projects and smart grid infrastructure, the US and Canada are two of the market's largest contributors. The region's need for silicon steel plates is also being driven by the increasing use of electric vehicles and the emphasis on lowering carbon emissions, with continuous research and development efforts to improve.
Asia Pacific is expected to generate the highest demand during the forecast period in the hot rolled silicon steel plate market.
This is due to the strong industrial growth, growing automotive sector, and large investments in renewable energy projects; the Asia Pacific region is expected to dominate the hot-rolled silicon steel plate market during the forecast period. With China being the biggest producer and consumer of silicon steel plates, nations like China, India, and Japan are major players in the market. The marketplace for silicon steel plates is anticipated to be driven by the region's fast industrialization and urbanization, as well as government programs to encourage the use of renewable energy sources and energy efficiency.
Top 10 trends in the Hot Rolled Silicon Steel Plate Market
- Surging Demand from the Electric Vehicle (EV) Revolution
- Growth in the Renewable Energy Sector
- Technological Advancements in Steel Production
- Emphasis on Energy Efficiency and Performance
- Increasing Adoption of High-Silicon Alloys
- Focus on Sustainability and Green Production
- Localization of Supply Chains
- Expansion into the Asia-Pacific Market
- Customization and Niche Applications
- Intense Competition and Pricing Pressures
1. Surging Demand from the Electric Vehicle (EV) Revolution
There is a huge demand for high-performance non-grain-oriented (NGO) silicon steel due to the quick global adoption of EVs. The performance and range of a vehicle are directly impacted by the high efficiency of this specialty steel, which is a crucial part of EV traction motors.
2. Growth in the Renewable Energy Sector
More efficient generators, transformers, and inverters are becoming more and more necessary as a result of the global transition to renewable energy sources like solar and wind.
3. Technological Advancements in Steel Production
AI is being used to evaluate production data and make adjustments in real time to maximize rolling efficiency, cut waste, and enhance quality.
4. Emphasis on Energy Efficiency and Performance
Enabling the development of more compact, powerful, and efficient electrical devices, such as transformers and motors, is essential for meeting strict energy efficiency regulations.
5. Focus on Sustainability and Green Production
There is an incentive for the steel industry, a significant carbon emitter, to embrace more sustainable practices.
Empower your strategic planning:
Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the hot rolled silicon steel plate market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 25 Companies Leading the Hot Rolled Silicon Steel Plate Market
- Nippon Steel Corporation
- ArcelorMittal
- POSCO
- Baosteel Group Corporation
- JFE Steel Corporation
- Tata Steel Limited
- Thyssenkrupp AG
- United States Steel Corporation
- Nucor Corporation
- Hyundai Steel Company
- China Steel Corporation
- Gerdau S.A.
- SSAB AB
- Voestalpine Group
- JSW Steel Ltd.
- Severstal
- AK Steel Holding Corporation
- Shougang Group
- Ansteel Group Corporation
- HBIS Group Co., Ltd.
- Others
1. Nippon Steel Corporation
Headquarters: Tokyo, Japan
Another major competitor in the market, Nippon Steel Corporation, is well-known for its cutting-edge silicon steel products that serve the industrial, automotive, and energy sectors. The business has created silicon steel plates with exceptional magnetic qualities and low energy losses thanks to its emphasis on research and development. Furthermore, Nippon Steel Corporation places a strong emphasis on environmental responsibility and sustainability, matching its product line to the global trend toward green energy.
2. POSCO
Headquarters: Pohang, South Korea
Leading South Korean steel producer POSCO is well-known for producing high-quality silicon steel products that are utilized in a variety of applications, such as renewable energy systems and electric cars. In addition to its dedication to technological innovation, the company has been able to create silicon steel plates that satisfy its clients' changing needs. Through the process of strategic alliances and partnerships, POSCO also prioritizes growing its worldwide footprint.
3. Baosteel Group Corporation
Headquarters: Shanghai, China
One of China's biggest steel manufacturers, Baowu Steel Group, is a major force in the market for hot-rolled silicon steel plates. The company provides a large selection of silicon steel products to the manufacturing, automotive, and energy industries. The Baowu Steel Group places a strong emphasis on energy efficiency and sustainability, matching its product line to the global movement toward carbon reduction and renewable energy.
4. JFE Steel Corporation
Headquarters: Chiyoda-ku, Japan
Leading Japanese steel producer JFE Steel Corporation is recognized for its modern silicon steel products, which find use in transformers, motors, and generators, among other devices. The company's emphasis on research and development has allowed it to create high-performance silicon steel plates that satisfy its clients' exacting specifications. In addition, JFE Steel Corporation prioritizes environmental responsibility and sustainability while working to develop cutting-edge solutions that improve energy efficiency.
5. Tata Steel Limited
Headquarters: Maharashtra, India
Tata Steel is a significant producer in the steel industry, and it indirectly prioritizes its place in the hot-rolled silicon steel plate market. In contrast to their rivals in other steel categories, they are not a publicly dominant player in the hot-rolled silicon steel market, despite producing electrical steels and hot-rolled products. Their ability to offer comprehensive, superior solutions to a variety of industries and their wider hot-rolled product portfolio are their main advantages. Among the top producers of hot-rolled steel coils and sheets is Tata Steel. Its goods, which are sold under the names Tata Astrum in India and Ympress® in Europe, are widely utilized in fields like general engineering, railroads, construction, and auto parts.
Are you ready to discover more about the hot rolled silicon steel plate market?
The report provides an in-depth analysis of the leading companies operating in the global hot rolled silicon steel plate market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- Nippon Steel Corporation
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- ArcelorMittal
- POSCO
- Baosteel Group Corporation
- JFE Steel Corporation
- Tata Steel Limited
- Thyssenkrupp AG
- United States Steel Corporation
- Nucor Corporation
- Hyundai Steel Company
- China Steel Corporation
- Gerdau S.A.
- SSAB AB
- Voestalpine Group
- JSW Steel Ltd.
- Severstal
- AK Steel Holding Corporation
- Shougang Group
- Ansteel Group Corporation
- HBIS Group Co., Ltd.
- Others
Conclusion
At a compound annual growth rate (CAGR) of roughly 5.68%, the Global Market Size for Hot Rolled Silicon Steel Plates is expected to reach USD 20.23 Billion by 2035 from USD 11.02 Billion in 2024. The main drivers of this growth are rising demand in the electrical, automotive, and energy sectors, particularly from the electric vehicle revolution and the development of renewable energy infrastructure. Technological developments like AI-driven production optimization and an emphasis on sustainability and energy efficiency also contribute to the market's growth. Further, from regional market revenue of Asia Pacific and North America influences the market expansion.
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