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

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

In 2021, the Norwegian silicon-electrical steel flat-rolled product market increased by 18% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption saw a strong increase. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in years to come.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports from Norway

In 2021, silicon-electrical steel flat-rolled product exports from Norway declined rapidly to X tons, which is down by -79.2% against the previous year's figure. Overall, exports recorded a precipitous shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 218%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, silicon-electrical steel flat-rolled product exports shrank remarkably to $X in 2021. Over the period under review, exports recorded a sharp descent. The pace of growth was the most pronounced in 2020 when exports increased by 119%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Iceland (X tons), India (X tons) and Poland (X kg) were the main destinations of silicon-electrical steel flat-rolled product exports from Norway, together comprising 62% of total exports. The Netherlands, Sweden and Germany lagged somewhat behind, together comprising a further 18%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +100.8%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Iceland ($X), Sweden ($X) and the Netherlands ($X) were the largest markets for silicon-electrical steel flat-rolled product exported from Norway worldwide, together comprising 44% of total exports.

The Netherlands, with a CAGR of +48.2%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average silicon-electrical steel flat-rolled product export price stood at $X per ton in 2021, jumping by 24% against the previous year. Overall, the export price showed a strong increase. The pace of growth was the most pronounced in 2019 when the average export price increased by 61% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to India ($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 (+97.4%), 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 Norway

In 2021, overseas purchases of flat-rolled products of silicon-electrical steel increased by 3.1% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports enjoyed a remarkable increase. The growth pace was the most rapid in 2014 with an increase of 60%. Imports peaked at X tons in 2018; afterwards, it flattened through to 2021.

In value terms, silicon-electrical steel flat-rolled product imports soared to $X in 2021. Over the period under review, imports showed a resilient expansion. The pace of growth was the most pronounced in 2015 when imports increased by 69%. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the near future.

Imports by Country

The United States (X tons), France (X tons) and Germany (X tons) were the main suppliers of silicon-electrical steel flat-rolled product imports to Norway, together comprising 54% of total imports. China, Japan and the Netherlands lagged somewhat behind, together comprising a further 5.9%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +117.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), France ($X) and Germany ($X) were the largest silicon-electrical steel flat-rolled product suppliers to Norway, with a combined 52% share of total imports. These countries were followed by China, Japan and the Netherlands, which together accounted for a further 6.4%.

In terms of the main suppliers, China, with a CAGR of +83.9%, recorded 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

The average silicon-electrical steel flat-rolled product import price stood at $X per ton in 2021, with an increase of 20% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2012; afterwards, it flattened through to 2021.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for the United States ($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 Netherlands (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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