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

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

In 2022, the Indonesian hot-rolled bearing steel bar market increased by 80% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption showed buoyant growth. Hot-rolled bearing steel bar consumption peaked in 2022 and is expected to retain growth in the near future.

Exports of Hot-Rolled Bars In Bearing Steels

Exports from Indonesia

In 2022, the amount of hot-rolled bars in bearing steels exported from Indonesia surged to X tons, increasing by 238% against the previous year's figure. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 739% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, hot-rolled bearing steel bar exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a deep setback. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons) was the main destination for hot-rolled bearing steel bar exports from Indonesia, with a 74% share of total exports. Moreover, hot-rolled bearing steel bar exports to Thailand exceeded the volume sent to the second major destination, Japan (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Thailand totaled +10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+122.9% per year) and Taiwan (Chinese) (+6.6% per year).

In value terms, Thailand ($X) emerged as the key foreign market for hot-rolled bars in bearing steels exports from Indonesia, comprising 72% of total exports. The second position in the ranking was taken by Japan ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Thailand amounted to +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+89.0% per year) and Taiwan (Chinese) (+1.8% per year).

Export Prices by Country

The average hot-rolled bearing steel bar export price stood at $X per ton in 2022, waning by -9.2% against the previous year. In general, the export price showed a deep setback. The growth pace was the most rapid in 2017 when the average export price increased by 129%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 China (+4.2%), while the prices for the other major destinations experienced a decline.

Imports of Hot-Rolled Bars In Bearing Steels

Imports into Indonesia

In 2022, approx. X tons of hot-rolled bars in bearing steels were imported into Indonesia; picking up by 36% compared with 2021. Over the period under review, total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +4.8% 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 +108.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 52%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, hot-rolled bearing steel bar imports skyrocketed to $X in 2022. Overall, imports continue to indicate a strong increase. The growth pace was the most rapid in 2021 when imports increased by 99%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X tons), Japan (X tons) and South Korea (X tons) were the main suppliers of hot-rolled bearing steel bar imports to Indonesia, together accounting for 96% of total imports. These countries were followed by Australia, which accounted for a further 1.8%.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +28.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) appeared to be the largest hot-rolled bearing steel bar suppliers to Indonesia, with a combined 95% share of total imports. Australia lagged somewhat behind, accounting for a further 1.3%.

In terms of the main suppliers, Australia, with a CAGR of +35.1%, recorded 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 average hot-rolled bearing steel bar import price stood at $X per ton in 2022, picking up by 44% against the previous year. In general, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.1% 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 +88.1% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Australia ($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 (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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