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

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

The Kuwaiti hot-rolled bearing steel bar market surged to $X in 2022, picking up by 42% against the previous year. In general, consumption, however, continues to indicate a pronounced shrinkage. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Hot-Rolled Bars In Bearing Steels in Kuwait

In value terms, hot-rolled bearing steel bar production surged to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a slight downturn. The growth pace was the most rapid in 2020 when the production volume increased by 842% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Hot-Rolled Bars In Bearing Steels

Exports from Kuwait

In 2022, approx. X tons of hot-rolled bars in bearing steels were exported from Kuwait; waning by -53.8% on 2021. In general, exports showed a sharp setback. The pace of growth appeared the most rapid in 2021 when exports increased by 864% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, hot-rolled bearing steel bar exports plummeted to $X in 2022. Overall, exports continue to indicate a precipitous setback. The growth pace was the most rapid in 2016 when exports increased by 819% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X tons), Saudi Arabia (X tons) and Qatar (X tons) were the main destinations of hot-rolled bearing steel bar exports from Kuwait.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of 0.0%), while the other leaders experienced a decline.

In value terms, the largest markets for hot-rolled bearing steel bar exported from Kuwait were Qatar ($X), Saudi Arabia ($X) and Turkey ($X).

Saudi Arabia, with a CAGR of +4.1%, 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 mixed trend patterns.

Export Prices by Country

The average hot-rolled bearing steel bar export price stood at $X per ton in 2022, growing by 20% against the previous year. Over the period under review, the export price, however, recorded a pronounced curtailment. The growth pace was the most rapid in 2016 when the average export price increased by 36% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Turkey ($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 the United Arab Emirates (+13.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Hot-Rolled Bars In Bearing Steels

Imports into Kuwait

In 2022, supplies from abroad of hot-rolled bars in bearing steels was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, recorded a abrupt decline. The growth pace was the most rapid in 2019 when imports increased by 890% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, hot-rolled bearing steel bar imports expanded rapidly to $X in 2022. Overall, imports, however, continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2019 with an increase of 873%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Bahrain (X tons) constituted the largest hot-rolled bearing steel bar supplier to Kuwait, with a 89% share of total imports. Moreover, hot-rolled bearing steel bar imports from Bahrain exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. China (X tons) ranked third in terms of total imports with a 1.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Bahrain stood at +78.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-16.8% per year) and China (-43.9% per year).

In value terms, Bahrain ($X) constituted the largest supplier of hot-rolled bars in bearing steels to Kuwait, comprising 61% of total imports. The second position in the ranking was taken by South Korea ($X), with a 10% share of total imports. It was followed by China, with a 5% share.

From 2012 to 2022, the average annual growth rate of value from Bahrain amounted to +61.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-2.1% per year) and China (-25.9% per year).

Import Prices by Country

The average hot-rolled bearing steel bar import price stood at $X per ton in 2022, reducing by -22.7% against the previous year. Over the period under review, the import price, however, continues to indicate strong growth. The pace of growth appeared the most rapid in 2020 an increase of 160% against the previous year. The import price peaked at $X per ton in 2021, and then declined rapidly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Bahrain ($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 (+32.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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