Austria: Market for Hot-Rolled Bars In Bearing Steels 2024

Market Size for Hot-Rolled Bars In Bearing Steels in Austria

In 2022, the Austrian hot-rolled bearing steel bar market increased by 6.2% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, enjoyed a tangible increase. Hot-rolled bearing steel bar consumption peaked in 2022 and is likely to see gradual growth in the near future.

Exports of Hot-Rolled Bars In Bearing Steels

Exports from Austria

In 2022, the amount of hot-rolled bars in bearing steels exported from Austria reduced remarkably to X tons, dropping by -20% on the previous year's figure. Over the period under review, exports saw a pronounced shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 85%. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, hot-rolled bearing steel bar exports rose remarkably to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 82% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for hot-rolled bearing steel bar exports from Austria, with a 48% share of total exports. Moreover, hot-rolled bearing steel bar exports to Germany exceeded the volume sent to the second major destination, the Czech Republic (X tons), fivefold. Switzerland (X tons) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany totaled +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+2.0% per year) and Switzerland (+0.0% per year).

In value terms, Germany ($X) remains the key foreign market for hot-rolled bars in bearing steels exports from Austria, comprising 46% of total exports. The second position in the ranking was held by the Czech Republic ($X), with an 8% share of total exports. It was followed by Switzerland, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+3.3% per year) and Switzerland (+1.0% per year).

Export Prices by Country

The average hot-rolled bearing steel bar export price stood at $X per ton in 2022, rising by 40% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Switzerland ($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 Slovenia (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Bars In Bearing Steels

Imports into Austria

Hot-rolled bearing steel bar imports into Austria dropped to X tons in 2022, declining by -12.2% against 2021. Over the period under review, total imports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of +1.9% 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 +38.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 59% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, hot-rolled bearing steel bar imports amounted to $X in 2022. In general, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.1% 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 +104.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 84% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Germany (X tons), Italy (X tons) and Slovenia (X tons) were the main suppliers of hot-rolled bearing steel bar imports to Austria, together accounting for 66% of total imports. Poland, Switzerland, the Czech Republic and Sweden lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +24.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled bearing steel bar suppliers to Austria were Germany ($X), Italy ($X) and Slovenia ($X), together accounting for 68% of total imports. Poland, Switzerland, Sweden and the Czech Republic lagged somewhat behind, together comprising a further 22%.

Poland, with a CAGR of +23.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average hot-rolled bearing steel bar import price amounted to $X per ton, surging by 27% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 60% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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