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

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

In 2021, the Mexican silicon-electrical steel flat-rolled product market increased by 5.7% to $X for the first time since 2016, thus ending a four-year declining trend. In general, consumption, however, showed a abrupt slump. 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 Mexico

In value terms, silicon-electrical steel flat-rolled product production surged to $X in 2021 estimated in export price. In general, production, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 22%. Over the period under review, production attained the peak level 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 Mexico

Silicon-electrical steel flat-rolled product exports from Mexico contracted markedly to X tons in 2021, falling by -36.6% compared with 2020. In general, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of 130% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, silicon-electrical steel flat-rolled product exports shrank sharply to $X in 2021. Overall, exports showed a deep slump. The pace of growth appeared the most rapid in 2016 with an increase of 129%. The exports peaked at $X in 2012; however, from 2013 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 Mexico, with a 96% share of total exports. It was followed by China (X tons), with a 1.8% share of total exports. The third position in this ranking was held by Peru (X tons), with a 0.1% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at -6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-19.5% per year) and Peru (-34.9% per year).

In value terms, the United States ($X) remains the key foreign market for flat-rolled products of silicon-electrical steel exports from Mexico, comprising 98% of total exports. The second position in the ranking was taken by China ($X), with a 1% share of total exports. It was followed by Ecuador, with a 0.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to -12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-15.1% per year) and Ecuador (-41.9% per year).

Export Prices by Country

In 2021, the average silicon-electrical steel flat-rolled product export price amounted to $X per ton, surging by 15% against the previous year. In general, the export price, however, continues to indicate a deep slump. 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 Ecuador ($X per ton), while the average price for exports to China ($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 China (+5.5%), while the prices for the other major destinations experienced a decline.

Imports of Flat-Rolled Products Of Silicon-Electrical Steel

Imports into Mexico

In 2021, overseas purchases of flat-rolled products of silicon-electrical steel decreased by -2.4% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports showed a slight shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by 40% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, silicon-electrical steel flat-rolled product imports dropped modestly to $X in 2021. In general, imports saw a mild downturn. The most prominent rate of growth was recorded in 2015 when imports increased by 44% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of silicon-electrical steel flat-rolled product imports to Mexico, together comprising 68% of total imports. Russia, Vietnam, South Korea and the United States lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +53.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest silicon-electrical steel flat-rolled product suppliers to Mexico were China ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined 70% share of total imports. Russia, the United States, Vietnam and South Korea lagged somewhat behind, together comprising a further 14%.

Vietnam, with a CAGR of +37.5%, 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

In 2021, the average silicon-electrical steel flat-rolled product import price amounted to $X per ton, reducing by -1.9% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 17%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

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 ($X per ton), while the price for South Korea ($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 United States (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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