How Electrification and Material Innovation Fueling Laminated Steel Growth to $2.7 Billion by 2035

laminated steel market, valued at $1.7 billion in 2025, is expected to expand to $2.7 billion by 2035, reflecting a CAGR of 4.5% over the forecast period from 2026 to 2035. The global laminated steel market is undergoing a paradigm shift driven by rapid electrification, sustainability goals, and advancements in lightweight material technologies. Laminated steel, known for its superior magnetic, thermal, and mechanical properties, is emerging as a crucial enabler for next-generation electric vehicles (EVs), energy-efficient appliances, and high-performance industrial equipment. As industries accelerate the transition toward carbon neutrality, laminated steel plays a pivotal role in improving energy efficiency, reducing CO? emissions, and enhancing system durability through optimized core loss reduction and magnetization performance. For instance, May 2023, Nippon Steel is expanding its production capacity for high-grade non-oriented electrical steel sheets at its Setouchi and Kyushu plants. The investment aims to increase output roughly fivefold by 2027 to meet growing demand from the electric and hybrid vehicle sectors. This move aligns with tighter global CO? and fuel efficiency regulations and supports the production of more efficient motors and power systems through improved material performance.

Browse the full report description of “Laminated Steel Market Size, Share & Trends Analysis Report by Product (Carbon Steel, Low-Alloy Steel, Electrical Steel, and Other) By Process (Fusion Method Laminated Steel, and Bonding Agent Laminated Steel) and By End User (Automotive & Transportation, Construction & Buildings, Electrical & Electronics, Food & Beverage, and Other) Forecast Period (2026-2035)” at https://www.omrglobal.com/industry-reports/laminated-steel-market

Recent Developments

• In August 2025, JFE Steel and JSW Steel are jointly expanding their electrical steel production in India through their two subsidiaries, J2ES Vijayanagar and J2ES Nashik. The plan will increase combined production capacity to around 350,000 tonnes per year—doubling output at Vijayanagar and increasing Nashik’s capacity fivefold. The expansion, scheduled between 2027 and 2030, aims to meet India’s growing demand for grain-oriented electrical steel driven by rising energy needs, renewable energy projects, and data center development. The move positions the partners to become India’s leading supplier of electrical steel.

• In May 2025, Nippon Steel approved a ¥870 billion ($6 billion) investment to expand its electric arc furnace (EAF) capacity as part of its plan to achieve carbon neutrality by 2050. The project involves constructing three new EAF facilities, expected to reach a combined capacity of around 2.9 million t/yr by March 2030, in addition to the existing 700,000 t/yr unit at the Setouchi works.

Market Coverage

• The market number available for – 2024-2035
• Base year- 2024
• Forecast period- 2025-2035
• Segment Covered-
  • By Product
  • By Process
  • By End User
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape - ArcelorMittal, Nippon Steel Corp., Posco International, Tata Steel, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Laminated Steel Market Report Segment

By Product

• Carbon Steel
• Low-Alloy Steel
• Electrical Steel
• Others

By Process

• Fusion Method Laminated Steel
• Bonding Agent Laminated Steel

By End User

• Automotive & Transportation
• Construction & Buildings
• Electrical & Electronics
• Food & Beverage
• Other

Global Laminated Steel Market Report Segment by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Russia
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Australia and New Zealand
• ASEAN Economies
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa

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