Overview of the Global Market for Flat-Rolled Products Of Silicon-Electrical Steel

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

The global silicon-electrical steel flat-rolled product market totaled $X in 2023, growing by X% against the previous year. Overall, consumption enjoyed buoyant growth. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the global market remained at a somewhat lower figure.

Production of Flat-Rolled Products Of Silicon-Electrical Steel

In value terms, silicon-electrical steel flat-rolled product production rose significantly to $X in 2023 estimated in export price. In general, production enjoyed a resilient expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, global production growth remained at a lower figure.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports

After two years of growth, shipments abroad of flat-rolled products of silicon-electrical steel decreased by X% to X tons in 2023. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the global exports reached the maximum at X tons in 2022, and then declined in the following year.

In value terms, silicon-electrical steel flat-rolled product exports contracted to $X in 2023. Overall, exports, however, enjoyed a perceptible expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The global exports peaked at $X in 2022, and then contracted in the following year.

Exports by Country

In 2023, China (X tons), distantly followed by Taiwan (Chinese) (X tons), South Korea (X tons), Japan (X tons), Germany (X tons) and Russia (X tons) represented the main exporters of flat-rolled products of silicon-electrical steel, together mixing up X% of total exports. Austria (X tons), France (X tons), Poland (X tons), Malaysia (X tons) and Vietnam (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, Malaysia (X%), Vietnam (X%), Austria (X%), Poland (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. South Korea and France experienced a relatively flat trend pattern. By contrast, Russia (X%), Germany (X%) and Japan (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), Austria (X p.p.) and Malaysia (X p.p.) increased significantly in terms of the global exports from 2012-2023, the share of Russia (X p.p.), Germany (X p.p.) and Japan (X p.p.) displayed negative dynamics. 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 worldwide were China ($X), Japan ($X) and South Korea ($X), together comprising X% of global exports. Germany, Taiwan (Chinese), Russia, France, Austria, Poland, Vietnam and Malaysia lagged somewhat behind, together accounting for a further X%.

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

Export Prices by Country

In 2023, the average silicon-electrical steel flat-rolled product export price amounted to $X per ton, remaining constant against the previous year. In general, export price indicated temperate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, silicon-electrical steel flat-rolled product export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, leveling off in the following year.

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

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

Imports of Flat-Rolled Products Of Silicon-Electrical Steel

Imports

In 2023, purchases abroad of flat-rolled products of silicon-electrical steel decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. Global imports peaked at X tons in 2022, and then declined in the following year.

In value terms, silicon-electrical steel flat-rolled product imports contracted to $X in 2023. In general, imports, however, posted notable growth. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Global imports peaked at $X in 2022, and then reduced in the following year.

Imports by Country

India (X tons) and Italy (X tons) represented the main importers of flat-rolled products of silicon-electrical steel in 2023, recording near X% and X% of total imports, respectively. Canada (X tons) ranks next in terms of the total imports with a X% share, followed by China (X%), Turkey (X%) and Mexico (X%). France (X tons), Thailand (X tons), Germany (X tons), the Czech Republic (X tons), South Korea (X tons), Vietnam (X tons) and Poland (X tons) followed a long way behind the leaders.

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

In value terms, Italy ($X), India ($X) and Turkey ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of global imports. Mexico, Canada, China, Germany, Thailand, France, the Czech Republic, Poland, Vietnam and South Korea lagged somewhat behind, together comprising a further X%.

Canada, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average silicon-electrical steel flat-rolled product import price amounted to $X per ton, approximately mirroring the previous year. Over the period under review, import price indicated a temperate increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. 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 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, leveling off 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 Mexico ($X per ton), while France ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform