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

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

The Slovak silicon-electrical steel flat-rolled product market was finally on the rise to reach $X in 2021, after three years of decline. In general, consumption, however, recorded a pronounced shrinkage. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Flat-Rolled Products Of Silicon-Electrical Steel in Slovakia

In value terms, silicon-electrical steel flat-rolled product production skyrocketed to $X in 2021 estimated in export price. In general, production, however, showed a deep setback. Over the period under review, production hit record highs 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 from Slovakia

In 2021, overseas shipments of flat-rolled products of silicon-electrical steel were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports saw a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, silicon-electrical steel flat-rolled product exports soared to $X in 2021. Over the period under review, total exports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The Czech Republic (X tons) was the main destination for silicon-electrical steel flat-rolled product exports from Slovakia, with a 51% share of total exports. Moreover, silicon-electrical steel flat-rolled product exports to the Czech Republic exceeded the volume sent to the second major destination, Germany (X tons), fourfold. Hungary (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to the Czech Republic was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+24.8% per year) and Hungary (-6.8% per year).

In value terms, the Czech Republic ($X) remains the key foreign market for flat-rolled products of silicon-electrical steel exports from Slovakia, comprising 50% of total exports. The second position in the ranking was held by Germany ($X), with a 14% share of total exports. It was followed by Hungary, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Czech Republic amounted to +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+26.3% per year) and Hungary (-6.6% per year).

Export Prices by Country

In 2021, the average silicon-electrical steel flat-rolled product export price amounted to $X per ton, picking up by 34% against the previous year. In general, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Poland ($X per ton), while the average price for exports to Turkey ($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 Switzerland (+1.9%), 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 Slovakia

In 2021, overseas purchases of flat-rolled products of silicon-electrical steel were finally on the rise to reach X tons after three years of decline. Overall, total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 55%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, silicon-electrical steel flat-rolled product imports surged to $X in 2021. Over the period under review, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Czech Republic (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of silicon-electrical steel flat-rolled product imports to Slovakia, together comprising 63% of total imports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +61.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest silicon-electrical steel flat-rolled product suppliers to Slovakia were Germany ($X), the Czech Republic ($X) and Poland ($X), together accounting for 68% of total imports.

Poland, with a CAGR of +69.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, surging by 49% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. 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 Belgium ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+23.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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