Chen Zhuo, expert consultant of the science, technology and environmental protection department of the China Iron and Steel Association (CISA) and former secretary-general of the electrical steel department of the China Society of Metals (CSM), predicts that by 2030, the global energy transition will increase electricity demand by 1.2-1.3 times, and by 2040, demand will increase by 1.7-2.1 times. In particular, China's demand for grain-oriented silicon steel is likely to be approximately 3.5-4.0 million tons, while the demand for grain-oriented silicon steel is expected to reach 13.0-15.0 million tons by 2040. conference.
According to Shougang, China's grain silicon steel production capacity will be 3.74 million tons in 2025, up 10.6 percent year-on-year, and in 2026 capacity is likely to increase year on year. In addition, during the 15th Five-Year Plan period, investment in China's energy sector is expected to reach RMB 4.0. trillion US dollars ($0.6 trillion), up 40 percent from the previous five-year period. Modernization and renewal of aging power grids, as well as the construction of data centers in developed countries such as Europe and the United States, will lead to a significant increase in investment in energy supply. Driven by the above-mentioned demand, the demand for grain-oriented silicon steel is expected to maintain steady growth. Domestic demand for grain-oriented silicon steel is likely to exceed 4.5 million tons by 2030, Shugan said.
