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

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

In 2022, the MENA's hot-rolled bearing steel bar market increased by 1.2% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Production of Hot-Rolled Bars In Bearing Steels in MENA

In value terms, hot-rolled bearing steel bar production shrank to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2017 with an increase of 19% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports in MENA

In 2022, approx. X tons of hot-rolled bars in bearing steels were exported in MENA; falling by -18% against the previous year's figure. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +13.2% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 46%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then reduced remarkably in the following year.

In value terms, hot-rolled bearing steel bar exports fell modestly to $X in 2022. In general, exports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2021 when exports increased by 90%. As a result, the exports attained the peak of $X, and then reduced in the following year.

Exports by Country

Turkey represented the largest exporting country with an export of around X tons, which reached 74% of total exports. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Iran (X tons). All these countries together took near 20% share of total exports. The following exporters - Jordan (X tons) and Egypt (X tons) - each recorded a 5.6% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to hot-rolled bearing steel bar exports from Turkey stood at +9.1%. At the same time, the United Arab Emirates (+52.0%) and Jordan (+10.1%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +52.0% from 2012-2022. By contrast, Iran (-1.4%) and Egypt (-13.1%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+14 p.p.) and Turkey (+12 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Iran (-7.4 p.p.) and Egypt (-18.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest hot-rolled bearing steel bar supplier in MENA, comprising 80% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.2% share of total exports. It was followed by Egypt, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled +9.5%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+35.2% per year) and Egypt (-9.7% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, picking up by 16% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 38% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+3.9%), while the other leaders experienced more modest paces of growth.

Imports of Hot-Rolled Bars In Bearing Steels

Imports in MENA

In 2022, supplies from abroad of hot-rolled bars in bearing steels decreased by -13.1% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports continue to indicate a slight contraction. The most prominent rate of growth was recorded in 2013 when imports increased by 53%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, hot-rolled bearing steel bar imports expanded to $X in 2022. Total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 +75.3% against 2017 indices. The pace of growth was the most pronounced in 2021 with an increase of 56% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

In 2022, Israel (X tons) and Turkey (X tons) were the main importers of hot-rolled bars in bearing steels in MENA, together generating 70% of total imports. Palestine (X tons) ranks next in terms of the total imports with a 17% share, followed by the United Arab Emirates (5.7%). Tunisia (X tons) and Egypt (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +50.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled bearing steel bar importing markets in MENA were Israel ($X), Turkey ($X) and Palestine ($X), together comprising 89% of total imports.

Among the main importing countries, Israel, with a CAGR of +46.1%, saw 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 import price in MENA stood at $X per ton in 2022, growing by 18% against the previous year. In general, the import price enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2018 when the import price increased by 38% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Egypt ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+1.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform