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

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

In 2022, the Lithuanian hot-rolled bearing steel bar market decreased by -32% to $X for the first time since 2016, thus ending a five-year rising trend. Over the period under review, consumption, however, recorded buoyant growth. Over the period under review, the market reached the maximum level at $X in 2021, and then fell sharply in the following year.

Exports of Hot-Rolled Bars In Bearing Steels

Exports from Lithuania

In 2022, after ten years of growth, there was significant decline in shipments abroad of hot-rolled bars in bearing steels, when their volume decreased by -29.3% to X tons. Over the period under review, exports, however, showed significant growth. The pace of growth was the most pronounced in 2020 with an increase of 256%. The exports peaked at X tons in 2021, and then reduced markedly in the following year.

In value terms, hot-rolled bearing steel bar exports dropped to $X in 2022. In general, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 158% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then fell in the following year.

Exports by Country

Poland (X tons) was the main destination for hot-rolled bearing steel bar exports from Lithuania, with a 46% share of total exports. Moreover, hot-rolled bearing steel bar exports to Poland exceeded the volume sent to the second major destination, Latvia (X tons), twofold. Estonia (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume to Poland totaled +33.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+57.8% per year) and Estonia (+27.8% per year).

In value terms, Poland ($X) remains the key foreign market for hot-rolled bars in bearing steels exports from Lithuania, comprising 42% of total exports. The second position in the ranking was taken by Latvia ($X), with a 21% share of total exports. It was followed by Estonia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Poland totaled +34.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+57.1% per year) and Estonia (+32.7% per year).

Export Prices by Country

The average hot-rolled bearing steel bar export price stood at $X per ton in 2022, rising by 30% against the previous year. In general, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.8% 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 export price increased by +115.5% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 66% against the previous year. The export price peaked at $X per ton in 2018; afterwards, it flattened through to 2022.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Sweden ($X per ton) and Estonia ($X per ton), while the average price for exports to Italy ($X per ton) and Poland ($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 Sweden (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Bars In Bearing Steels

Imports into Lithuania

After eight years of growth, overseas purchases of hot-rolled bars in bearing steels decreased by -37.7% to X tons in 2022. In general, imports, however, posted significant growth. The pace of growth was the most pronounced in 2019 when imports increased by 128%. Over the period under review, imports attained the peak figure at X tons in 2021, and then dropped rapidly in the following year.

In value terms, hot-rolled bearing steel bar imports fell markedly to $X in 2022. Overall, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 110% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then contracted notably in the following year.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of hot-rolled bearing steel bar to Lithuania, with a 76% share of total imports. Moreover, hot-rolled bearing steel bar imports from Russia exceeded the figures recorded by the second-largest supplier, Poland (X tons), more than tenfold. Germany (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume from Russia stood at +48.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+22.8% per year) and Germany (+57.8% per year).

In value terms, Russia ($X) constituted the largest supplier of hot-rolled bars in bearing steels to Lithuania, comprising 67% of total imports. The second position in the ranking was held by Poland ($X), with an 11% share of total imports. It was followed by Germany, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value from Russia amounted to +47.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+26.5% per year) and Germany (+48.6% per year).

Import Prices by Country

The average hot-rolled bearing steel bar import price stood at $X per ton in 2022, increasing by 28% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 51% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform