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

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

The Croatian silicon-electrical steel flat-rolled product market soared to $X in 2021, picking up by 22% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +63.6% against 2017 indices. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the near future.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports from Croatia

Silicon-electrical steel flat-rolled product exports from Croatia soared to X tons in 2021, increasing by 16% against 2020. In general, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 147% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, silicon-electrical steel flat-rolled product exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a perceptible setback. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Slovenia (X tons) was the main destination for silicon-electrical steel flat-rolled product exports from Croatia, accounting for a 88% share of total exports. Moreover, silicon-electrical steel flat-rolled product exports to Slovenia exceeded the volume sent to the second major destination, Congo (X tons), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Slovenia stood at +41.5%.

In value terms, Congo ($X) emerged as the key foreign market for flat-rolled products of silicon-electrical steel exports from Croatia, comprising 75% of total exports. The second position in the ranking was held by Slovenia ($X), with a 24% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Congo was relatively modest.

Export Prices by Country

The average silicon-electrical steel flat-rolled product export price stood at $X per ton in 2021, growing by 496% against the previous year. In general, the export price enjoyed prominent growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Congo ($X per ton), while the average price for exports to Slovenia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+48.8%), 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 Croatia

In 2021, the amount of flat-rolled products of silicon-electrical steel imported into Croatia was estimated at X tons, rising by 4.4% compared with the previous year's figure. The total import volume increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 22%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, silicon-electrical steel flat-rolled product imports soared to $X in 2021. Over the period under review, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.3% 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 +70.3% against 2017 indices. The growth pace was the most rapid in 2015 with an increase of 37% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Poland (X tons), Japan (X tons) and South Korea (X tons) were the main suppliers of silicon-electrical steel flat-rolled product imports to Croatia, together comprising 53% of total imports. Germany, China, the Czech Republic, Austria, the United States, Slovakia, the Netherlands and Italy lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +69.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Japan ($X) and Germany ($X) constituted the largest silicon-electrical steel flat-rolled product suppliers to Croatia, together accounting for 53% of total imports. These countries were followed by South Korea, China, the Czech Republic, Austria, the United States, Slovakia, the Netherlands and Italy, which together accounted for a further 44%.

Among the main suppliers, China, with a CAGR of +67.5%, saw 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

In 2021, the average silicon-electrical steel flat-rolled product import price amounted to $X per ton, increasing by 23% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 United States ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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