Benelux: Market for Flat-Rolled Products Of Silicon-Electrical Steel 2024

Market Size for Flat-Rolled Products Of Silicon-Electrical Steel in Benelux

In 2023, the Benelux silicon-electrical steel flat-rolled product market increased by X% to $X, rising for the second consecutive year after nine years of decline. In general, consumption enjoyed a resilient expansion. Over the period under review, the market hit record highs in 2023 and is expected to retain growth in years to come.

Production of Flat-Rolled Products Of Silicon-Electrical Steel in Benelux

In value terms, silicon-electrical steel flat-rolled product production expanded slightly to $X in 2023 estimated in export price. Over the period under review, production enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports in Benelux

In 2023, shipments abroad of flat-rolled products of silicon-electrical steel decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Over the period under review, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The volume of export peaked at X tons in 2022, and then fell rapidly in the following year.

In value terms, silicon-electrical steel flat-rolled product exports soared to $X in 2023. Overall, exports, however, continue to indicate tangible growth. The pace of growth was the most pronounced in 2020 with an increase of X%. The level of export peaked in 2023 and is likely to see gradual growth in years to come.

Exports by Country

Belgium dominates exports structure, finishing at X tons, which was near X% of total exports in 2023. The Netherlands (X tons) followed a long way behind the leaders.

Belgium was also the fastest-growing in terms of the flat-rolled products of silicon-electrical steel exports, with a CAGR of X% from 2012 to 2023. The Netherlands (X%) illustrated a downward trend over the same period. While the share of Belgium (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of the Netherlands (X p.p.) displayed negative dynamics.

In value terms, the Netherlands ($X) emerged as the largest silicon-electrical steel flat-rolled product supplier in Benelux, comprising X% of total exports. The second position in the ranking was held by Belgium ($X), with a X% share of total exports.

In the Netherlands, silicon-electrical steel flat-rolled product exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2023, increasing by X% against the previous year. Over the period under review, the export price continues to indicate resilient growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Belgium stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%).

Imports of Flat-Rolled Products Of Silicon-Electrical Steel

Imports in Benelux

In 2023, after six years of growth, there was significant decline in overseas purchases of flat-rolled products of silicon-electrical steel, when their volume decreased by X% to X tons. In general, imports saw a pronounced contraction. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, silicon-electrical steel flat-rolled product imports reduced sharply to $X in 2023. Overall, imports continue to indicate a noticeable descent. The most prominent rate of growth was recorded in 2014 when imports increased by X%. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

Belgium was the largest importer of flat-rolled products of silicon-electrical steel in Benelux, with the volume of imports reaching X tons, which was approx. X% of total imports in 2023. It was distantly followed by the Netherlands (X tons), mixing up a X% share of total imports.

Imports into Belgium decreased at an average annual rate of X% from 2012 to 2023. The Netherlands (X%) illustrated a downward trend over the same period. While the share of the Netherlands (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Belgium (X p.p.) displayed negative dynamics.

In value terms, Belgium ($X) and the Netherlands ($X) constituted the countries with the highest levels of imports in 2023.

In terms of the main importing countries, the Netherlands, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The import price in Benelux stood at $X per ton in 2023, surging by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while Belgium stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%).

Source: IndexBox Platform