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Market Analysis: NGO Electrical Steel Market, Oleo Chemicals Market and Silica Fabric Market forecasted for 2023-2030

Market Analysis: NGO Electrical Steel Market, Oleo Chemicals Market and Silica Fabric Market forecasted for 2023-2030

SEATTLE, WASHINGTON, USA, July 1, 2023/ -- The NGO Electrical Steel Market is expected to grow from USD 13.60 Billion in 2022 to USD 18.40 Billion by 2030, at a CAGR of 4.40% during the forecast period.A wide range of industries that depend on electrical equipment, such as power transformers, motors, generators, and other electronic devices, are targeted by the NGO Electrical Steel market. The rapidly rising demand for electricity, the growing emphasis on renewable energy sources, and the rising popularity of high-quality, energy-efficient materials are the main drivers of revenue growth in this market.

The two primary varieties. are:

• Semi-Processed
• Fully Treated NGO Electrical Steel

Low-frequency applications can benefit from the thin insulating layer on semi-processed NGO Electrical Steel. Fully treated NGO Electrical Steel, on the other hand, has a thicker insulating layer that enables it to withstand high-frequency magnetic fields without suffering any harm. Moreover, fully treated NGO Electrical Steel is better suited for high-efficiency electrical equipment because it has greater magnetic characteristics than semi-processed NGO Electrical Steel.

NGO Electrical Steel is a high-quality magnetic steel that is used in various applications such as motors, home appliances, power generators, and automotive industries. In the case of motors, NGO Electrical Steel is used in the production of energy-efficient and high-performance motors due to its low power loss and high magnetic permeability. The same properties make it ideal for use in home appliances like refrigerators, air conditioners, washing machines, and other home appliances that require high efficiency and low noise levels

North America and Europe are expected to be the second and third-largest market for NGO Electrical Steel, respectively. The market share of Asia Pacific is expected to be around 45%, followed by North America with 25% and Europe with 20%. The rest of the world is expected to account for the remaining 10% of the market share.

Some of the leading companies operating in this market include Baowu, Shougang Group, TISCO, Nippon Steel, Ansteel, Posco, JFE Steel, Thyssen Krupp, Voestalpine, ArcelorMittal, NLMK, CSC, AK Steel, BX Steel, and others.

The company has annual sales revenue of over $70 billion. Similarly, Nippon Steel, the second-largest steel producer globally, has established a strong presence in the NGO Electrical Steel Market with annual sales revenue of over $40 billion.

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The Oleo Chemicals Market is expected to grow from USD 26.10 Billion in 2022 to USD 30.40 Billion by 2030, at a CAGR of 2.20% during the forecast period.The Oleo Chemicals market is a growing industry that provides a wide range of products, including fatty acids, glycerol, and fatty alcohols. This industry serves several end-use industries, including soaps and detergents, personal care, food, and pharmaceuticals. The market for Oleo Chemicals is driven by several factors, including increasing awareness about the environmental impact of petrochemical-based products, and the rising demand for biodegradable and sustainable products.

The primary types of oleo chemicals includes:

• Fatty Acids
• Fatty Alcohol
• Methyl Esters,
• Fatty Amines,
• Glycerol
• Others Like Alkanolamides, Fatty Esters And Surfactants

Fatty acids are widely used in the production of soaps, detergents, lubricants and other industrial applications, while fatty alcohols are used in personal care products like skin creams, hair conditioners and cosmetic products.

The global oleo chemicals market is expected to grow significantly in regions such as North America, Asia Pacific, Europe, USA, and China. North America is expected to witness significant growth due to the growing demand for bio-based chemicals and the increasing adoption of sustainable solutions. In Asia Pacific, the growth of oleo chemicals market is attributed to the increasing population and the rise in disposable income. Europe is expected to witness steady growth due to the increasing demand for bio-based products and the stringent regulations imposed by the European Union.

The global oleo chemicals market is characterized by intense competition among established players as well as new entrants. The market is dominated by big players such as Wilmar International, Zhejiang Zanyu, Kao, Musim Mas Group, KLK OLEO, IOI Group, Emery Oleochemicals, BASF, Ecogreen, P&G Chemicals, Teck Guan, Godrej Industries.

In terms of sales revenue figures, Wilmar International reported revenues of $44.5 billion in 2020, while Kao reported revenues of $12.9 billion. Musim Mas Group reported revenues of $6.1 billion in 2020, and Croda reported revenues of $2.3 billion.

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The Silica Fabric Market is expected to grow from USD 623.60 Million in 2022 to USD 877.50 Million by 2030, at a CAGR of 5.00% during the forecast period.The Silica Fabric market offers a high-quality, heat-resistant fabric that can withstand extreme temperatures in various industrial applications. The target market for Silica Fabric includes industries such as aerospace, military, automotive, construction, and fire protection. The strong demand from these industries is driving revenue growth in the Silica Fabric market.

There are two main types of silica fabric available in the market namely:

• Silica Below 96%
• Silica Above 96%

The silica fabric market is expected to experience significant growth in various regions across the globe, including North America, Asia-Pacific, Europe, the USA, and China. In North America, the market growth can be attributed to the increasing demand for advanced materials that offer high thermal resistance and superior mechanical strength in various applications such as aerospace, defense, and chemical processing industries. In Asia-Pacific, the growth of the market will be driven by the increasing demand for silica fabric in the automotive, construction, and electrical industries.

The global silica fabric market is highly competitive with the presence of numerous players such as Hiltex Technische Weefsels, Shreeji Industries, PAR Group, Mid-Mountain, Auburn Manufacturing, IC International, Anhui Ningguo Hantai New Materials, AVS Industries, McAllister Mills, Newtex, Great Lakes Textiles, VATI, Valmieras Stikla Skiedra, Nanjing Gao Geya, Nanjing Tianyuan Fiberglass Material, and Jiangsu Jiuding New Material.

Sales revenue figures for some of the above-listed companies are as follows:

- Mid-Mountain - USD 95 million (2020)
- Auburn Manufacturing - USD 50 million (2020)
- Great Lakes Textiles - USD 20 million (2020)
- McAllister Mills - USD 10 million (2020)

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Mohit Patil
Prime PR Wire
+1 951-407-0500
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