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

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

In 2023, the Southeast Asian silicon-electrical steel flat-rolled product market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Over the period under review, consumption saw a pronounced descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

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

In value terms, silicon-electrical steel flat-rolled product production skyrocketed to $X in 2023 estimated in export price. In general, production posted a buoyant increase. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports in South-Eastern Asia

In 2023, silicon-electrical steel flat-rolled product exports in South-Eastern Asia rose sharply to X tons, picking up by X% compared with 2022 figures. In general, exports posted resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, silicon-electrical steel flat-rolled product exports reduced to $X in 2023. Over the period under review, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia (X tons) and Vietnam (X tons) prevails in exports structure, together constituting X% of total exports. It was distantly followed by Singapore (X tons), generating a X% share of total exports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Malaysia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Malaysia ($X) and Singapore ($X) constituted the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the export price saw a pronounced downturn. The growth pace was the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

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 Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced a decline in the export price figures.

Imports of Flat-Rolled Products Of Silicon-Electrical Steel

Imports in South-Eastern Asia

In 2023, approx. X tons of flat-rolled products of silicon-electrical steel were imported in South-Eastern Asia; falling by X% on the year before. Overall, imports continue to indicate a mild slump. The pace of growth appeared the most rapid in 2021 when imports increased by X%. The volume of import peaked at X tons in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, silicon-electrical steel flat-rolled product imports reduced notably to $X in 2023. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then shrank remarkably in the following year.

Imports by Country

In 2023, Thailand (X tons) and Vietnam (X tons) represented the key importers of flat-rolled products of silicon-electrical steel in South-Eastern Asia, together achieving X% of total imports. Malaysia (X tons) ranks next in terms of the total imports with a X% share, followed by Indonesia (X%). The following importers - Singapore (X tons) and the Philippines (X tons) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for the Philippines (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest silicon-electrical steel flat-rolled product importing markets in South-Eastern Asia were Thailand ($X), Vietnam ($X) and Indonesia ($X), with a combined X% share of total imports. Malaysia, Singapore and the Philippines lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, saw 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

The import price in South-Eastern Asia stood at $X per ton in 2023, falling by X% against the previous year. Import price indicated measured growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, silicon-electrical steel flat-rolled product import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

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 Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform