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

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

After three years of growth, the Spanish silicon-electrical steel flat-rolled product market decreased by X% to $X in 2023. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then fell remarkably in the following year.

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

In value terms, silicon-electrical steel flat-rolled product production dropped remarkably to $X in 2023 estimated in export price. Overall, production recorded a deep downturn. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Silicon-electrical steel flat-rolled product production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports from Spain

In 2023, silicon-electrical steel flat-rolled product exports from Spain declined remarkably to X tons, dropping by X% on the year before. In general, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, silicon-electrical steel flat-rolled product exports dropped markedly to $X in 2023. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, the exports attained the peak of $X, and then declined markedly in the following year.

Exports by Country

Portugal (X tons), Malaysia (X tons) and India (X tons) were the main destinations of silicon-electrical steel flat-rolled product exports from Spain, with a combined X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Portugal (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X) emerged as the key foreign market for flat-rolled products of silicon-electrical steel exports from Spain, comprising X% of total exports. The second position in the ranking was taken by France ($X), with an X% share of total exports. It was followed by India, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Portugal amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and India (X% per year).

Export Prices by Country

In 2023, the average silicon-electrical steel flat-rolled product export price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2022 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then declined dramatically in the following year.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flat-Rolled Products Of Silicon-Electrical Steel

Imports into Spain

In 2023, after two years of growth, there was significant decline in purchases abroad of flat-rolled products of silicon-electrical steel, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs 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 contracted remarkably to $X in 2023. Over the period under review, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then contracted remarkably in the following year.

Imports by Country

Germany (X tons), France (X tons) and China (X tons) were the main suppliers of silicon-electrical steel flat-rolled product imports to Spain, with a combined X% share of total imports. The Czech Republic, Italy, Austria and Romania lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest silicon-electrical steel flat-rolled product suppliers to Spain were Germany ($X), France ($X) and the Czech Republic ($X), together comprising X% of total imports. China, Italy, Austria and Romania lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Austria, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average silicon-electrical steel flat-rolled product import price stood at $X per ton in 2023, surging by X% against the previous year. Over the period under review, the import price recorded prominent growth. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2023 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform