United Kingdom: Market for Flat-Rolled Products Of Silicon-Electrical Steel 2025

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

In 2021, the UK silicon-electrical steel flat-rolled product market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, showed a pronounced contraction. Silicon-electrical steel flat-rolled product consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Flat-Rolled Products Of Silicon-Electrical Steel in the UK

In value terms, silicon-electrical steel flat-rolled product production amounted to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a noticeable decrease. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports from the UK

In 2021, after three years of decline, there was growth in overseas shipments of flat-rolled products of silicon-electrical steel, when their volume increased by 1.8% to X tons. Over the period under review, exports, however, showed a dramatic setback. The growth pace was the most rapid in 2017 with an increase of 11%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, silicon-electrical steel flat-rolled product exports skyrocketed to $X in 2021. Overall, exports, however, saw a dramatic setback. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Norway (X tons) and the United Arab Emirates (X tons) were the main destinations of silicon-electrical steel flat-rolled product exports from the UK, together accounting for 87% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +72.6%), while the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) emerged as the key foreign market for flat-rolled products of silicon-electrical steel exports from the UK, comprising 43% of total exports. The second position in the ranking was held by Norway ($X), with a 17% share of total exports. It was followed by Canada, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +61.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+49.6% per year) and Canada (-36.7% per year).

Export Prices by Country

The average silicon-electrical steel flat-rolled product export price stood at $X per ton in 2021, surging by 29% against the previous year. Over the last nine years, it increased at an average annual rate of +3.4%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+61.4%), 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 the UK

In 2021, purchases abroad of flat-rolled products of silicon-electrical steel was finally on the rise to reach X tons after five years of decline. In general, imports, however, continue to indicate a sharp slump. The growth pace was the most rapid in 2014 when imports increased by 78% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, silicon-electrical steel flat-rolled product imports reduced to $X in 2021. Over the period under review, imports, however, faced a dramatic descent. The pace of growth appeared the most rapid in 2014 with an increase of 55% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X tons), Romania (X tons) and the Netherlands (X tons) were the main suppliers of silicon-electrical steel flat-rolled product imports to the UK, with a combined 67% share of total imports. These countries were followed by Turkey, Ireland, Austria, Italy and Sweden, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +166.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Turkey ($X) appeared to be the largest silicon-electrical steel flat-rolled product suppliers to the UK, together comprising 77% of total imports.

Among the main suppliers, Turkey, with a CAGR of +302.1%, recorded the highest growth rate of 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 2021, shrinking by -9.1% against the previous year. Overall, the import price, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2019 when the average import price increased by 91% against the previous year. The import price peaked at $X per ton in 2020, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+51.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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