ASEAN: Market for Hot-Rolled Bars In Bearing Steels 2025

Exports of Hot-Rolled Bars In Bearing Steels

Exports in ASEAN

In 2022, hot-rolled bearing steel bar exports in ASEAN expanded slightly to X tons, increasing by 4.8% on 2021 figures. In general, exports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of 57%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, hot-rolled bearing steel bar exports expanded significantly to $X in 2022. Over the period under review, exports, however, showed a abrupt setback. The pace of growth was the most pronounced in 2016 when exports increased by 32%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Thailand (X tons) was the largest exporter of hot-rolled bars in bearing steels, generating 65% of total exports. It was distantly followed by Singapore (X tons), Indonesia (X tons) and Malaysia (X tons), together constituting a 33% share of total exports. Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to hot-rolled bearing steel bar exports from Thailand stood at -7.7%. At the same time, Malaysia (+12.3%) and Vietnam (+2.1%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +12.3% from 2012-2022. Indonesia experienced a relatively flat trend pattern. By contrast, Singapore (-7.4%) illustrated a downward trend over the same period. Malaysia (+4.9 p.p.) and Indonesia (+4.4 p.p.) significantly strengthened its position in terms of the total exports, while Singapore and Thailand saw its share reduced by -1.7% and -9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Singapore ($X) and Indonesia ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 91% of total exports. Malaysia and Vietnam lagged somewhat behind, together comprising a further 8.6%.

Among the main exporting countries, Malaysia, with a CAGR of +10.1%, 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 a decline in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, increasing by 9.3% against the previous year. In general, the export price, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2018 an increase of 48% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+1.3%), while the other leaders experienced a decline in the export price figures.

Imports of Hot-Rolled Bars In Bearing Steels

Imports in ASEAN

In 2022, supplies from abroad of hot-rolled bars in bearing steels increased by 1.1% to X tons, rising for the second year in a row after four years of decline. Over the period under review, imports showed a moderate increase. The growth pace was the most rapid in 2015 when imports increased by 98%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, hot-rolled bearing steel bar imports surged to $X in 2022. Overall, imports posted a temperate increase. The growth pace was the most rapid in 2016 with an increase of 45% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Indonesia (X tons) and Thailand (X tons) were the major importers of hot-rolled bars in bearing steels in 2022, reaching approx. 36% and 26% of total imports, respectively. Vietnam (X tons) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (7.4%). Malaysia (X tons), Lao People's Democratic Republic (X tons) and the Philippines (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Lao People's Democratic Republic (with a CAGR of +74.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled bearing steel bar importing markets in ASEAN were Indonesia ($X), Thailand ($X) and Vietnam ($X), with a combined 85% share of total imports. Singapore, Malaysia, the Philippines and Lao People's Democratic Republic lagged somewhat behind, together comprising a further 13%.

In terms of the main importing countries, Lao People's Democratic Republic, with a CAGR of +71.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, surging by 26% against the previous year. In general, the import price showed a mild expansion. The pace of growth was the most pronounced in 2021 an increase of 37% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

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 Indonesia ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform