Report Update Nov 1, 2024

Iraq - Hot-Rolled Bars in Bearing Steels - Market Analysis, Forecast, Size, Trends and Insights

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

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

In 2022, the Iraqi hot-rolled bearing steel bar market increased by 229% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption continues to indicate a significant increase. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports from Iraq

In 2020, after two years of decline, there was decline in overseas shipments of hot-rolled bars in bearing steels, when their volume decreased by 0% to X tons. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 15% against the previous year. The exports peaked in 2020 and are expected to retain growth in years to come.

In value terms, hot-rolled bearing steel bar exports amounted to $X in 2020. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 12% against the previous year. Over the period under review, the exports hit record highs in 2020 and are likely to see gradual growth in the near future.

Exports by Country

Myanmar (X tons) was the main destination for hot-rolled bearing steel bar exports from Iraq, with a approx. 100% share of total exports.

From 2016 to 2020, the average annual rate of growth in terms of volume to Myanmar was relatively modest.

From 2016 to 2020, the average annual growth rate of value to Myanmar was relatively modest.

Export Prices by Country

In 2020, the average hot-rolled bearing steel bar export price amounted to $X per ton, remaining constant against the previous year. In general, the export price recorded a abrupt slump. The most prominent rate of growth was recorded in 2017 when the average export price decreased by -2.3%. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2020, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Myanmar.

From 2016 to 2020, the rate of growth in terms of prices for Myanmar amounted to 0.0% per year.

Imports of Hot-Rolled Bars In Bearing Steels

Imports into Iraq

After two years of decline, purchases abroad of hot-rolled bars in bearing steels increased by 244% to X tons in 2022. Over the period under review, imports showed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 31,408%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, hot-rolled bearing steel bar imports skyrocketed to $X in 2022. Overall, imports showed significant growth. The growth pace was the most rapid in 2013 with an increase of 19,130% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main hot-rolled bearing steel bar supplier to Iraq, accounting for a 96% share of total imports. It was followed by Turkey (X tons), with a 2.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +25.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+60.8% per year) and the United Arab Emirates (+49.6% per year).

In value terms, China ($X) constituted the largest supplier of hot-rolled bars in bearing steels to Iraq, comprising 70% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 25% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +20.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+56.2% per year) and Turkey (+61.4% per year).

Import Prices by Country

The average hot-rolled bearing steel bar import price stood at $X per ton in 2022, with a decrease of -7.6% against the previous year. Overall, the import price continues to indicate a slight slump. The most prominent rate of growth was recorded in 2016 an increase of 38% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the United Arab Emirates ($X per ton), while the price for China ($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 United Arab Emirates (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for hot-rolled bars in bearing steels in the world?

The country with the largest volume of hot-rolled bearing steel bar consumption was China, comprising approx. 18% of total volume. Moreover, hot-rolled bearing steel bar consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The third position in this ranking was occupied by Turkey, with a 5.6% share.

What are the largest producers of hot-rolled bars in bearing steels in the world?

China constituted the country with the largest volume of hot-rolled bearing steel bar production, accounting for 44% of total volume. Moreover, hot-rolled bearing steel bar production in China exceeded the figures recorded by the second-largest producer, India, sevenfold. Russia ranked third in terms of total production with a 6% share.

What are the leading suppliers of hot-rolled bars in bearing steels to Iraq?

In value terms, China constituted the largest supplier of hot-rolled bearing steel bar to Iraq, comprising 67% of total imports. The second position in the ranking was occupied by the United Arab Emirates, with a 25% share of total imports. It was followed by Turkey, with a 3.7% share.

What is the average export price for hot-rolled bars in bearing steels in Iraq?

In 2020, the average hot-rolled bearing steel bar export price amounted to $565 per ton, almost unchanged from the previous year.

What is the average import price for hot-rolled bars in bearing steels in Iraq?

In 2021, the average hot-rolled bearing steel bar import price amounted to $592 per ton, reducing by -61.5% against the previous year.

This report provides an in-depth analysis of the market for hot-rolled bearing steel bar in Iraq. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24106630 - Hot-rolled bars in bearing steels

Country coverage:

Iraq

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Iraq
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023