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

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

The GCC silicon-electrical steel flat-rolled product market soared to $X in 2021, rising by 72% against the previous year. The total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +2.1% 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 +104.6% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

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

In value terms, silicon-electrical steel flat-rolled product production soared to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2018 when the production volume increased by 368% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports in GCC

In 2021, overseas shipments of flat-rolled products of silicon-electrical steel increased by 40% to X tons for the first time since 2017, thus ending a three-year declining trend. The total export volume increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, silicon-electrical steel flat-rolled product exports skyrocketed to $X in 2021. Total exports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates dominates exports structure, resulting at X tons, which was approx. 93% of total exports in 2021. It was distantly followed by Saudi Arabia (X tons), comprising a 4.8% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the flat-rolled products of silicon-electrical steel exports, with a CAGR of +4.8% from 2012 to 2021. Saudi Arabia (-6.2%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+7.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-7.1 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest silicon-electrical steel flat-rolled product supplier in GCC, comprising 97% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 1.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at +3.7%.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, surging by 30% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-1.0%).

Imports of Flat-Rolled Products Of Silicon-Electrical Steel

Imports in GCC

In 2021, overseas purchases of flat-rolled products of silicon-electrical steel increased by 37% to X tons, rising for the second year in a row after three years of decline. Total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +3.8% 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 +83.1% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, silicon-electrical steel flat-rolled product imports surged to $X in 2021. In general, imports posted modest growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates represented the main importer of flat-rolled products of silicon-electrical steel in GCC, with the volume of imports amounting to X tons, which was approx. 64% of total imports in 2021. It was distantly followed by Saudi Arabia (X tons) and Kuwait (X tons), together comprising a 36% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the flat-rolled products of silicon-electrical steel imports, with a CAGR of +7.4% from 2012 to 2021. At the same time, Kuwait (+1.4%) displayed positive paces of growth. Saudi Arabia experienced a relatively flat trend pattern. The United Arab Emirates (+17 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by -14.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X) were the countries with the highest levels of imports in 2021, together comprising 100% of total imports.

The United Arab Emirates, with a CAGR of +7.0%, saw 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 leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, jumping by 42% against the previous year. Over the period under review, the import price, however, showed a mild decrease. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Kuwait ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform