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

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

After two years of decline, the MENA's silicon-electrical steel flat-rolled product market increased by 67% to $X in 2021. Overall, consumption, however, continues to indicate a slight reduction. The level of 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 MENA

In value terms, silicon-electrical steel flat-rolled product production skyrocketed to $X in 2021 estimated in export price. In general, production, however, recorded a abrupt descent. The pace of growth was the most pronounced in 2018 when the production volume increased by 26% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports in MENA

In 2021, overseas shipments of flat-rolled products of silicon-electrical steel were finally on the rise to reach X tons after two years of decline. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 172% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, silicon-electrical steel flat-rolled product exports skyrocketed to $X in 2021. In general, exports recorded significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey prevails in exports structure, reaching X tons, which was approx. 92% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), making up a 6.6% share of total exports.

Turkey was also the fastest-growing in terms of the flat-rolled products of silicon-electrical steel exports, with a CAGR of +77.9% from 2012 to 2021. At the same time, the United Arab Emirates (+4.8%) displayed positive paces of growth. From 2012 to 2021, the share of Turkey increased by +84 percentage points.

In value terms, Turkey ($X) remains the largest silicon-electrical steel flat-rolled product supplier in MENA, comprising 85% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 13% share of total exports.

In Turkey, silicon-electrical steel flat-rolled product exports expanded at an average annual rate of +67.5% over the period from 2012-2021.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, rising by 24% against the previous year. Overall, the export price, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2015 an increase of 27% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the export prices failed to regain momentum.

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 Turkey totaled $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 MENA

In 2021, purchases abroad of flat-rolled products of silicon-electrical steel increased by 101% to X tons, rising for the second year in a row after two years of decline. In general, imports showed a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, silicon-electrical steel flat-rolled product imports skyrocketed to $X in 2021. Over the period under review, imports saw a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey represented the main importing country with an import of about X tons, which amounted to 78% of total imports. It was distantly followed by the United Arab Emirates (X tons) and Saudi Arabia (X tons), together creating a 15% share of total imports.

Turkey was also the fastest-growing in terms of the flat-rolled products of silicon-electrical steel imports, with a CAGR of +15.3% from 2012 to 2021. At the same time, the United Arab Emirates (+7.4%) displayed positive paces of growth. Saudi Arabia experienced a relatively flat trend pattern. From 2012 to 2021, the share of Turkey increased by +28 percentage points.

In value terms, Turkey ($X) constitutes the largest market for imported flat-rolled products of silicon-electrical steel in MENA, comprising 76% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 11% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Turkey amounted to +16.6%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+7.0% per year) and Saudi Arabia (-3.6% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, increasing by 33% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Turkey ($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 (+1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform