Africa: Market for Hot-Rolled Bars Of High Speed Steel 2025

Market Size for Hot-Rolled Bars Of High Speed Steel in Africa

The African market for hot-rolled bars of high speed steel reduced to $X in 2022, waning by -2.2% against the previous year. The market value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Hot-Rolled Bars Of High Speed Steel in Africa

In value terms, hot-rolled high speed steel bar production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 13%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Hot-Rolled Bars Of High Speed Steel

Exports in Africa

For the third year in a row, Africa recorded growth in shipments abroad of hot-rolled bars of high speed steel, which increased by 57% to X tons in 2022. Over the period under review, exports, however, saw a abrupt descent. The growth pace was the most rapid in 2021 when exports increased by 78%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, hot-rolled high speed steel bar exports surged to $X in 2022. In general, exports, however, faced a abrupt decline. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Tanzania was the largest exporter of hot-rolled bars of high speed steel in Africa, with the volume of exports recording X tons, which was near 68% of total exports in 2022. It was distantly followed by South Africa (X tons), making up a 26% share of total exports. Zambia (X tons) took a little share of total exports.

Tanzania was also the fastest-growing in terms of the hot-rolled bars of high speed steel exports, with a CAGR of +80.7% from 2012 to 2022. At the same time, Zambia (+42.0%) displayed positive paces of growth. By contrast, South Africa (-22.7%) illustrated a downward trend over the same period. While the share of Tanzania (+68 p.p.) and Zambia (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Africa (-46.5 p.p.) displayed negative dynamics.

In value terms, Tanzania ($X) emerged as the largest hot-rolled high speed steel bar supplier in Africa, comprising 67% of total exports. The second position in the ranking was held by South Africa ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Tanzania amounted to +82.0%. In the other countries, the average annual rates were as follows: South Africa (-24.9% per year) and Zambia (+50.6% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, with an increase of 4.5% against the previous year. In general, the export price, however, continues to indicate a mild setback. The pace of growth was the most pronounced in 2020 when the export price increased by 33%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Zambia ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Zambia (+6.1%), while the other leaders experienced mixed trends in the export price figures.

Imports of Hot-Rolled Bars Of High Speed Steel

Imports in Africa

In 2022, approx. X tons of hot-rolled bars of high speed steel were imported in Africa; shrinking by -9.3% against the previous year's figure. In general, imports, however, continue to indicate a tangible expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 184%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, hot-rolled high speed steel bar imports shrank to $X in 2022. Total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +73.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 97%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, South Africa (X tons) and Botswana (X tons) were the largest importers of hot-rolled bars of high speed steel in Africa, together amounting to approx. 50% of total imports. Liberia (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Zambia (7.6%). The following importers - Tunisia (X tons), Kenya (X tons), Namibia (X tons), Mozambique (X tons), Democratic Republic of the Congo (X tons), Egypt (X tons), Algeria (X tons) and Seychelles (X tons) - together made up 21% of total imports.

From 2012 to 2022, the biggest increases were recorded for Liberia (with a CAGR of +69.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constitutes the largest market for imported hot-rolled bars of high speed steel in Africa, comprising 49% of total imports. The second position in the ranking was taken by Liberia ($X), with a 10% share of total imports. It was followed by Egypt, with a 6.7% share.

In South Africa, hot-rolled high speed steel bar imports increased at an average annual rate of +1.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Liberia (+57.5% per year) and Egypt (+0.3% per year).

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, declining by -3% against the previous year. Over the period under review, the import price continues to indicate a pronounced decline. The growth pace was the most rapid in 2020 an increase of 64%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Egypt ($X per ton), while Zambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+20.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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