Slovakia: Ferro-Silicon Market 2024

Ferro-Silicon Market Size in Slovakia

After three years of decline, the Slovak ferro-silicon market increased by 3,017% to $X in 2022. Over the period under review, consumption showed a slight expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Ferro-Silicon Production in Slovakia

In value terms, ferro-silicon production contracted sharply to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 71%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Ferro-Silicon Exports

Exports from Slovakia

Ferro-silicon exports from Slovakia fell markedly to X tons in 2022, waning by -36.6% against 2021 figures. Overall, exports showed a slight descent. The most prominent rate of growth was recorded in 2017 with an increase of 56% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, ferro-silicon exports dropped to $X in 2022. Over the period under review, total exports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +95.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 110% against the previous year. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

The Czech Republic (X tons), Poland (X tons) and Slovenia (X tons) were the main destinations of ferro-silicon exports from Slovakia, with a combined 62% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Slovenia (with a CAGR of +53.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ferro-silicon exported from Slovakia were the Czech Republic ($X), Poland ($X) and Slovenia ($X), with a combined 64% share of total exports.

Among the main countries of destination, Slovenia, with a CAGR of +58.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average ferro-silicon export price amounted to $X per ton, increasing by 47% against the previous year. Overall, the export price continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2021 an increase of 62%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+9.9%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Silicon Imports

Imports into Slovakia

In 2022, purchases abroad of ferro-silicon increased by 0.8% to X tons, rising for the second year in a row after three years of decline. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 120% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, ferro-silicon imports surged to $X in 2022. Over the period under review, imports posted resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest ferro-silicon supplier to Slovakia, with a 31% share of total imports. Moreover, ferro-silicon imports from Germany exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. The third position in this ranking was held by Poland (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+33.7% per year) and Poland (-5.1% per year).

In value terms, Germany ($X) constituted the largest supplier of ferro-silicon to Slovakia, comprising 38% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a 14% share of total imports. It was followed by Poland, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+7.4% per year) and Poland (+1.8% per year).

Import Prices by Country

The average ferro-silicon import price stood at $X per ton in 2022, jumping by 105% against the previous year. Over the period under review, the import price showed a tangible expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+27.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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