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

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

The East Asian silicon-electrical steel flat-rolled product market amounted to $X in 2022, therefore, remained relatively stable against the previous year. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Flat-Rolled Products Of Silicon-Electrical Steel in Eastern Asia

In value terms, silicon-electrical steel flat-rolled product production amounted to $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports in Eastern Asia

In 2022, overseas shipments of flat-rolled products of silicon-electrical steel increased by X% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, silicon-electrical steel flat-rolled product exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a buoyant increase. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

China was the major exporting country with an export of around X tons, which resulted at X% of total exports. It was distantly followed by Taiwan (Chinese) (X tons), Japan (X tons) and South Korea (X tons), together generating a X% share of total exports.

China 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 2022. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. South Korea experienced a relatively flat trend pattern. By contrast, Japan (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total exports, while South Korea and Japan saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest silicon-electrical steel flat-rolled product supplying countries in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), together comprising X% of total exports.

In terms of the main exporting countries, China, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, rising by X% against the previous year. Export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, silicon-electrical steel flat-rolled product export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Imports of Flat-Rolled Products Of Silicon-Electrical Steel

Imports in Eastern Asia

After two years of growth, purchases abroad of flat-rolled products of silicon-electrical steel decreased by X% to X tons in 2022. In general, imports showed a perceptible setback. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, silicon-electrical steel flat-rolled product imports stood at $X in 2022. Over the period under review, imports showed a slight curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) represented the major importer of flat-rolled products of silicon-electrical steel, making up X% of total imports. South Korea (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Japan (X%), Taiwan (Chinese) (X%) and Hong Kong SAR (X%).

Imports into China decreased at an average annual rate of X% from 2012 to 2022. At the same time, South Korea (X%), Japan (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of South Korea (X p.p.), Japan (X p.p.) and Taiwan (Chinese) (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (X p.p.) and China (X p.p.) displayed negative dynamics.

In value terms, the largest silicon-electrical steel flat-rolled product importing markets in Eastern Asia were China ($X), South Korea ($X) and Japan ($X), with a combined X% share of total imports.

South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, rising by X% against the previous year. Import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, silicon-electrical steel flat-rolled product import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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