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

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

In 2021, the South Asian silicon-electrical steel flat-rolled product market increased by 61% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Flat-Rolled Products Of Silicon-Electrical Steel in Southern Asia

In value terms, silicon-electrical steel flat-rolled product production reached $X in 2021 estimated in export price. Over the period under review, production continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2014 with an increase of 107%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports in Southern Asia

In 2021, approx. X tons of flat-rolled products of silicon-electrical steel were exported in Southern Asia; shrinking by -5.1% on the previous year. Over the period under review, exports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2017 when exports increased by 187% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, silicon-electrical steel flat-rolled product exports skyrocketed to $X in 2021. In general, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 107% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, India (X tons) was the key exporter of flat-rolled products of silicon-electrical steel in Southern Asia, creating 100% of total export.

India was also the fastest-growing in terms of the flat-rolled products of silicon-electrical steel exports, with a CAGR of +11.0% from 2012 to 2021. While the share of India (+2.4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest silicon-electrical steel flat-rolled product supplier in Southern Asia.

In India, silicon-electrical steel flat-rolled product exports expanded at an average annual rate of +13.5% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, picking up by 56% against the previous year. In general, the export price showed pronounced growth. Over the period under review, the export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +2.2% per year.

Imports of Flat-Rolled Products Of Silicon-Electrical Steel

Imports in Southern Asia

In 2021, purchases abroad of flat-rolled products of silicon-electrical steel increased by 40% to X tons for the first time since 2017, thus ending a three-year declining trend. Total imports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -14.3% against 2017 indices. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, silicon-electrical steel flat-rolled product imports surged to $X in 2021. Total imports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India dominates imports structure, finishing at X tons, which was near 91% of total imports in 2021. It was distantly followed by Bangladesh (X tons), mixing up a 4.9% share of total imports. Pakistan (X tons) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +2.7% from 2012 to 2021. At the same time, Bangladesh (+12.0%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +12.0% from 2012-2021. By contrast, Pakistan (-5.2%) illustrated a downward trend over the same period. While the share of Bangladesh (+2.7 p.p.) and India (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Pakistan (-4 p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported flat-rolled products of silicon-electrical steel in Southern Asia, comprising 90% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 5.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value in India totaled +2.2%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+8.8% per year) and Pakistan (-3.6% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, surging by 37% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2012; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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