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

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

The Japanese hot-rolled bearing steel bar market was finally on the rise to reach $X in 2022, after three years of decline. In general, consumption, however, continues to indicate a deep slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Hot-Rolled Bars In Bearing Steels in Japan

In value terms, hot-rolled bearing steel bar production fell to $X in 2022 estimated in export price. Overall, production showed a perceptible reduction. The growth pace was the most rapid in 2021 with an increase of 23%. Over the period under review, production attained the peak level 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 Japan

In 2022, the amount of hot-rolled bars in bearing steels exported from Japan declined to X tons, falling by -8.7% compared with the previous year's figure. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 56%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, hot-rolled bearing steel bar exports stood at $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 66%. 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), China (X tons) and Indonesia (X tons) were the main destinations of hot-rolled bearing steel bar exports from Japan, with a combined 57% share of total exports. Taiwan (Chinese), India, Vietnam, the United States, South Korea and the Philippines lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +4.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), China ($X) and Indonesia ($X) appeared to be the largest markets for hot-rolled bearing steel bar exported from Japan worldwide, together accounting for 56% of total exports. Taiwan (Chinese), India, South Korea, the United States, Vietnam and the Philippines lagged somewhat behind, together comprising a further 38%.

Taiwan (Chinese), with a CAGR of +4.5%, recorded the highest growth rate of 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, with an increase of 14% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were South Korea ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to Vietnam ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Bars In Bearing Steels

Imports into Japan

In 2022, overseas purchases of hot-rolled bars in bearing steels increased by 2.4% to X tons, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +1.1% over the period 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 2014 with an increase of 47%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, hot-rolled bearing steel bar imports reached $X in 2022. In general, total imports indicated a modest increase from 2012 to 2022: its value 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 +63.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 46%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

South Korea (X tons), China (X tons) and Germany (X tons) were the main suppliers of hot-rolled bearing steel bar imports to Japan, with a combined 96% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +63.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Germany ($X) appeared to be the largest hot-rolled bearing steel bar suppliers to Japan, with a combined 90% share of total imports.

Among the main suppliers, Germany, with a CAGR of +53.9%, 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, with an increase of 9.2% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 27% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for South Korea ($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 (+3.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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