New Zealand: Market for Hot-Rolled Bars In Bearing Steels 2025

Market Size for Hot-Rolled Bars In Bearing Steels in New Zealand

The New Zealand hot-rolled bearing steel bar market dropped sharply to $X in 2022, shrinking by -57.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed noticeable growth. As a result, consumption reached the peak level of $X, and then contracted markedly in the following year.

Exports of Hot-Rolled Bars In Bearing Steels

Exports from New Zealand

Hot-rolled bearing steel bar exports from New Zealand contracted to X tons in 2022, dropping by -7.4% compared with the previous year. Overall, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 1,614% against the previous year. As a result, the exports reached the peak of X tons, and then shrank in the following year.

In value terms, hot-rolled bearing steel bar exports surged to $X in 2022. In general, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 2,301% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Vanuatu (X tons) was the main destination for hot-rolled bearing steel bar exports from New Zealand, with a 97% share of total exports. It was followed by the United States (X tons), with a 2.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Vanuatu totaled +71.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+16.7% per year) and Pitcairn Islands (-59.9% per year).

In value terms, Vanuatu ($X) emerged as the key foreign market for hot-rolled bars in bearing steels exports from New Zealand, comprising 99% of total exports. The second position in the ranking was held by the United States ($X), with a 0.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Vanuatu totaled +89.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-0.5% per year) and Pitcairn Islands (-56.8% per year).

Export Prices by Country

The average hot-rolled bearing steel bar export price stood at $X per ton in 2022, with an increase of 54% against the previous year. Overall, the export price posted a resilient expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 106%. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vanuatu ($X per ton), while the average price for exports to the United States ($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 Solomon Islands (+283.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Bars In Bearing Steels

Imports into New Zealand

Hot-rolled bearing steel bar imports into New Zealand shrank dramatically to X tons in 2022, waning by -62% compared with the previous year. In general, imports, however, recorded a tangible increase. The pace of growth appeared the most rapid in 2021 with an increase of 196%. As a result, imports reached the peak of X tons, and then declined dramatically in the following year.

In value terms, hot-rolled bearing steel bar imports declined remarkably to $X in 2022. Overall, imports, however, enjoyed a temperate increase. The most prominent rate of growth was recorded in 2021 with an increase of 189% against the previous year. As a result, imports reached the peak of $X, and then contracted dramatically in the following year.

Imports by Country

China (X tons), Singapore (X tons) and Turkey (X tons) were the main suppliers of hot-rolled bearing steel bar imports to New Zealand, together comprising 77% of total imports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +78.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled bearing steel bar suppliers to New Zealand were Singapore ($X), Australia ($X) and China ($X), together comprising 65% of total imports.

In terms of the main suppliers, Singapore, with a CAGR of +70.4%, 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, picking up by 26% against the previous year. In general, the import price, however, saw a mild curtailment. The pace of growth was the most pronounced in 2018 when the average import price increased by 39% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+28.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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