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

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

In 2021, the Scandinavia silicon-electrical steel flat-rolled product market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, showed a deep setback. 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 Scandinavia

In value terms, silicon-electrical steel flat-rolled product production surged to $X in 2021 estimated in export price. Over the period under review, production, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2014 when the production volume increased by 59% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports in Scandinavia

In 2021, shipments abroad of flat-rolled products of silicon-electrical steel was finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 35% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, silicon-electrical steel flat-rolled product exports skyrocketed to $X in 2021. Overall, exports, however, recorded a abrupt contraction. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Finland prevails in exports structure, accounting for X tons, which was near 96% of total exports in 2021. Sweden (X tons) took a relatively small share of total exports.

Finland was also the fastest-growing in terms of the flat-rolled products of silicon-electrical steel exports, with a CAGR of +14.2% from 2012 to 2021. Sweden (-40.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Finland increased by +87 percentage points.

In value terms, Finland ($X) remains the largest silicon-electrical steel flat-rolled product supplier in Scandinavia, comprising 97% of total exports. The second position in the ranking was held by Sweden ($X), with a 1.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Finland totaled +4.8%.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, growing by 5% against the previous year. Overall, the export price, however, saw a mild shrinkage. The pace of growth was the most pronounced in 2016 an increase of 15%. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Finland ($X per ton), while Sweden stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (-3.8%).

Imports of Flat-Rolled Products Of Silicon-Electrical Steel

Imports in Scandinavia

In 2021, overseas purchases of flat-rolled products of silicon-electrical steel were finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, imports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of 113%. Over the period under review, imports attained the peak figure 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 skyrocketed to $X in 2021. In general, imports, however, continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2016 when imports increased by 64%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Sweden (X tons) was the main importer of flat-rolled products of silicon-electrical steel, comprising 51% of total imports. Finland (X tons) held a 27% share (based on physical terms) of total imports, which put it in second place, followed by Norway (22%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Norway (with a CAGR of +9.5%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest silicon-electrical steel flat-rolled product importing markets in Scandinavia were Sweden ($X), Finland ($X) and Norway ($X), together comprising 100% of total imports.

Among the main importing countries, Norway, with a CAGR of +9.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, jumping by 22% against the previous year. Import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, silicon-electrical steel flat-rolled product import price increased by +65.7% against 2016 indices. The pace of growth was the most pronounced in 2014 an increase of 43%. Over the period under review, import prices attained the maximum in 2021 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+9.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform