Overview of the Global Market for Hot-Rolled Bars In Bearing Steels

Market Size for Hot-Rolled Bars In Bearing Steels

In 2022, the global hot-rolled bearing steel bar market increased by 11% to $X, rising for the second year in a row after two years of decline. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the global market failed to regain momentum.

Production of Hot-Rolled Bars In Bearing Steels

In value terms, hot-rolled bearing steel bar production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a pronounced decrease. The pace of growth appeared the most rapid in 2014 when the production volume increased by 38% against the previous year. Global production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports

In 2022, approx. X tons of hot-rolled bars in bearing steels were exported worldwide; dropping by -19.7% on 2021 figures. Overall, exports saw a noticeable setback. The most prominent rate of growth was recorded in 2014 with an increase of 87% against the previous year. Over the period under review, the global exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, hot-rolled bearing steel bar exports dropped modestly to $X in 2022. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 60%. The global exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

China represented the main exporting country with an export of about X tons, which accounted for 31% of total exports. Japan (X tons) held the second position in the ranking, followed by Italy (X tons), Russia (X tons), Germany (X tons) and South Korea (X tons). All these countries together took approx. 30% share of total exports. The following exporters - Canada (X tons), Chile (X tons), Turkey (X tons), Poland (X tons), Spain (X tons), the Czech Republic (X tons) and France (X tons) - together made up 21% of total exports.

From 2012 to 2022, average annual rates of growth with regard to hot-rolled bearing steel bar exports from China stood at -9.2%. At the same time, Chile (+100.7%), Poland (+12.1%), Italy (+9.4%), Turkey (+9.1%), South Korea (+5.4%) and Russia (+4.4%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in the world, with a CAGR of +100.7% from 2012-2022. Spain, Germany, Japan and Canada experienced a relatively flat trend pattern. By contrast, the Czech Republic (-1.7%) and France (-5.2%) illustrated a downward trend over the same period. Italy (+4.4 p.p.), Chile (+3.8 p.p.), Russia (+3.3 p.p.), Japan (+2.7 p.p.), South Korea (+2.6 p.p.), Turkey (+2.4 p.p.), Poland (+1.9 p.p.) and Germany (+1.7 p.p.) significantly strengthened its position in terms of the global exports, while China saw its share reduced by -26.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest hot-rolled bearing steel bar supplier worldwide, comprising 25% of global exports. The second position in the ranking was taken by Japan ($X), with an 8.7% share of global exports. It was followed by Germany, with a 6.9% share.

In China, hot-rolled bearing steel bar exports declined by an average annual rate of -5.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-0.0% per year) and Germany (+0.8% per year).

Export Prices by Country

The average hot-rolled bearing steel bar export price stood at $X per ton in 2022, rising by 25% against the previous year. In general, the export price recorded perceptible growth. The growth pace was the most rapid in 2021 an increase of 35%. The global export price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.4%), while the other global leaders experienced more modest paces of growth.

Imports of Hot-Rolled Bars In Bearing Steels

Imports

In 2022, approx. X tons of hot-rolled bars in bearing steels were imported worldwide; which is down by -5.9% on 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 +1.1% 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 +15.3% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 27% against the previous year. Over the period under review, global imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, hot-rolled bearing steel bar imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 56% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Germany (X tons), Mexico (X tons), Indonesia (X tons), Italy (X tons), Thailand (X tons), South Korea (X tons), the United States (X tons), France (X tons), Peru (X tons), Israel (X tons), Taiwan (Chinese) (X tons) and China (X tons) was the main importer of hot-rolled bars in bearing steels in the world, creating 54% of total import. Vietnam (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +50.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($X), Mexico ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2022, with a combined 23% share of global imports. Italy, the United States, Israel, Thailand, France, China, South Korea, Taiwan (Chinese), Peru and Vietnam lagged somewhat behind, together accounting for a further 33%.

Israel, with a CAGR of +46.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average hot-rolled bearing steel bar import price stood at $X per ton in 2022, rising by 19% against the previous year. Overall, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled bearing steel bar import price increased by +51.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 27%. Global import price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Vietnam ($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 global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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