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

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

In 2021, after two years of decline, there was significant growth in the Canadian silicon-electrical steel flat-rolled product market, when its value increased by 32% to $X. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

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

In value terms, silicon-electrical steel flat-rolled product production soared to $X in 2021 estimated in export price. Overall, production, however, saw a abrupt contraction. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports from Canada

After three years of decline, shipments abroad of flat-rolled products of silicon-electrical steel increased by 140% to X tons in 2021. Overall, exports enjoyed a tangible increase. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, silicon-electrical steel flat-rolled product exports surged to $X in 2021. Over the period under review, exports continue to indicate a mild increase. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for silicon-electrical steel flat-rolled product exports from Canada, with a 94% share of total exports. Moreover, silicon-electrical steel flat-rolled product exports to the United States exceeded the volume sent to the second major destination, Pakistan (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +4.1%.

In value terms, the United States ($X) remains the key foreign market for flat-rolled products of silicon-electrical steel exports from Canada, comprising 97% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 1.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +1.5%.

Export Prices by Country

The average silicon-electrical steel flat-rolled product export price stood at $X per ton in 2021, with an increase of 8.6% against the previous year. In general, the export price, however, saw a slight curtailment. The pace of growth appeared the most rapid in 2015 when the average export price increased by 9.4%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Pakistan totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-2.5%), while the prices for the other major destinations experienced a decline.

Imports of Flat-Rolled Products Of Silicon-Electrical Steel

Imports into Canada

In 2021, silicon-electrical steel flat-rolled product imports into Canada rose significantly to X tons, growing by 6.9% on the previous year. Overall, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +37.8% against 2019 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 29% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, silicon-electrical steel flat-rolled product imports soared to $X in 2021. In general, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +58.7% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan (X tons), the United States (X tons) and South Korea (X tons) were the main suppliers of silicon-electrical steel flat-rolled product imports to Canada, with a combined 72% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +114.8%), 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 Canada were the United States ($X), Japan ($X) and South Korea ($X), with a combined 72% share of total imports.

South Korea, with a CAGR of +110.4%, recorded the highest growth rate of the value of imports, among the main suppliers 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, surging by 28% against the previous year. Overall, the import price, however, saw a slight slump. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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