Northern America: Market for Flat-Rolled Products Of Silicon-Electrical Steel 2023

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

After two years of decline, the North American silicon-electrical steel flat-rolled product market increased by 20% to $X in 2021. Overall, consumption, however, continues to indicate a mild shrinkage. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Flat-Rolled Products Of Silicon-Electrical Steel in Northern America

In value terms, silicon-electrical steel flat-rolled product production surged to $X in 2021 estimated in export price. Overall, production, however, recorded a deep setback. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports in Northern America

In 2021, overseas shipments of flat-rolled products of silicon-electrical steel increased by 68% to X tons for the first time since 2015, thus ending a five-year declining trend. Over the period under review, exports, however, saw a deep reduction. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, silicon-electrical steel flat-rolled product exports skyrocketed to $X in 2021. Overall, exports, however, showed a deep reduction. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States represented the major exporter of flat-rolled products of silicon-electrical steel in Northern America, with the volume of exports recording X tons, which was near 77% of total exports in 2021. It was distantly followed by Canada (X tons), creating a 23% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to silicon-electrical steel flat-rolled product exports from the United States stood at -10.9%. At the same time, Canada (+3.1%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +3.1% from 2012-2021. While the share of Canada (+16 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United States (-15.7 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest silicon-electrical steel flat-rolled product supplier in Northern America, comprising 77% of total exports. The second position in the ranking was held by Canada ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States amounted to -8.5%.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, surging by 27% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.7%).

Imports of Flat-Rolled Products Of Silicon-Electrical Steel

Imports in Northern America

In 2021, overseas purchases of flat-rolled products of silicon-electrical steel increased by 16% to X tons, rising for the second consecutive year after two years of decline. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 40% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, silicon-electrical steel flat-rolled product imports surged to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Canada was the main importing country with an import of around X tons, which reached 69% of total imports. It was distantly followed by the United States (X tons), achieving a 31% share of total imports.

Canada was also the fastest-growing in terms of the flat-rolled products of silicon-electrical steel imports, with a CAGR of +8.4% from 2012 to 2021. The United States (-7.1%) illustrated a downward trend over the same period. Canada (+33 p.p.) significantly strengthened its position in terms of the total imports, while the United States saw its share reduced by -33.2% from 2012 to 2021, respectively.

In value terms, Canada ($X) constitutes the largest market for imported flat-rolled products of silicon-electrical steel in Northern America, comprising 70% of total imports. The second position in the ranking was taken by the United States ($X), with a 30% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Canada totaled +7.2%.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, increasing by 25% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+0.6%).

Source: IndexBox Platform

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