Induction furnace route to grow in medium term

Over the years induction furnace route for steelmaking has gained prominence in India.

- S Chanda

At this moment, estimates of steel produced from induction furnaces range from 35 percent up to 55 percent of total steel produced in India.

The percentage share is higher if you consider TMT rebars and structurals.

The impact of Covid induced slowdown will hamper short terms prospects for steel demand in the country. However, over medium term induction furnaces route for steelmaking will continue to grow.

Induction furnaces have both CAPEX and OPEX advantages over Arc furnaces. Also, setting up an Induction furnace based steel melt shop takes less time.

However, it is possible to further refine steel in Arc furnaces. Both processes of steelmaking have their unique requirements and advantages.

When Megatherm first started making induction furnaces, the holding capacity of an induction furnace was 3 tons (T) to 4 T. India’s first 8T furnace was supplied by Megatherm in 1995. Since then furnace sizes have gradually grown to meet economies of scale.

India’s first 25T furnace was supplied Megatherm to a Hyderabad based plant in 2002. As of today the average size of an induction furnace 15T to 20T and supplies of 35T to 50T is not uncommon.

Megatherm has supplied equipment to 42 countries. Every year we get business from Middle Eastern, African and SAARC countries. We have footprint in almost all continents.