Costa Rica: Market for Hot-Rolled Bars In Bearing Steels 2025

Market Size for Hot-Rolled Bars In Bearing Steels in Costa Rica

The Costa Rican hot-rolled bearing steel bar market contracted to $X in 2022, with a decrease of -7.4% against the previous year. In general, consumption showed a deep contraction. Hot-rolled bearing steel bar consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Hot-Rolled Bars In Bearing Steels in Costa Rica

In value terms, hot-rolled bearing steel bar production contracted to $X in 2022 estimated in export price. Over the period under review, production recorded a deep reduction. The most prominent rate of growth was recorded in 2021 when the production volume increased by 21%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports from Costa Rica

In 2022, shipments abroad of hot-rolled bars in bearing steels decreased by -12.4% to X tons for the first time since 2011, thus ending a ten-year rising trend. Overall, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2021 with an increase of 84%. As a result, the exports attained the peak of X tons, and then declined in the following year.

In value terms, hot-rolled bearing steel bar exports contracted notably to $X in 2022. In general, exports, however, recorded significant growth. The growth pace was the most rapid in 2021 with an increase of 87%. As a result, the exports attained the peak of $X, and then declined sharply in the following year.

Exports by Country

Panama (X tons), the United States (X tons) and Guatemala (X tons) were the main destinations of hot-rolled bearing steel bar exports from Costa Rica, together comprising 96% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +192.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Panama ($X), Guatemala ($X) and the United States ($X) were the largest markets for hot-rolled bearing steel bar exported from Costa Rica worldwide, with a combined 94% share of total exports.

The United States, with a CAGR of +90.8%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average hot-rolled bearing steel bar export price amounted to $X per ton, waning by -12.5% against the previous year. Overall, the export price continues to indicate a abrupt downturn. The growth pace was the most rapid in 2017 an increase of 6.4% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was El Salvador ($X per ton), while the average price for exports to the United States ($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 El Salvador (-4.1%), while the prices for the other major destinations experienced a decline.

Imports of Hot-Rolled Bars In Bearing Steels

Imports into Costa Rica

In 2022, overseas purchases of hot-rolled bars in bearing steels decreased by -4.3% to X tons for the first time since 2014, thus ending a seven-year rising trend. In general, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.5% 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 +110.2% against 2014 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 79% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, hot-rolled bearing steel bar imports stood at $X in 2022. Over the period under review, imports showed a pronounced contraction. The most prominent rate of growth was recorded in 2013 with an increase of 54%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) was the main supplier of hot-rolled bearing steel bar to Costa Rica, accounting for a 95% share of total imports. It was followed by Panama (X tons), with a 1.8% share of total imports. The third position in this ranking was held by China (X tons), with a 1% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (+39.4% per year) and China (-23.1% per year).

In value terms, Turkey ($X) constituted the largest supplier of hot-rolled bars in bearing steels to Costa Rica, comprising 89% of total imports. The second position in the ranking was held by Mexico ($X), with a 5.6% share of total imports. It was followed by China, with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey totaled +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-3.6% per year) and China (-23.5% per year).

Import Prices by Country

The average hot-rolled bearing steel bar import price stood at $X per ton in 2022, growing by 4.5% against the previous year. Overall, the import price, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2014 an increase of 8.5%. The import price peaked 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 supplying countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for Panama ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+13.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform