Report Update Nov 1, 2024

Saudi Arabia - Hot-Rolled Bars in Bearing Steels - Market Analysis, Forecast, Size, Trends and Insights

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Saudi Arabia: Market for Hot-Rolled Bars In Bearing Steels 2024

Market Size for Hot-Rolled Bars In Bearing Steels in Saudi Arabia

The Saudi hot-rolled bearing steel bar market was finally on the rise to reach $X in 2022, after five years of decline. Overall, consumption recorded a noticeable contraction. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Production of Hot-Rolled Bars In Bearing Steels in Saudi Arabia

In value terms, hot-rolled bearing steel bar production expanded slightly to $X in 2022 estimated in export price. Overall, production saw a pronounced contraction. The most prominent rate of growth was recorded in 2016 with an increase of 68% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports from Saudi Arabia

In 2022, overseas shipments of hot-rolled bars in bearing steels increased by 32% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, showed a pronounced decrease. The pace of growth appeared the most rapid in 2016 when exports increased by 99% against the previous year. Over the period under review, the exports reached the peak figure 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 declined to $X in 2022. Overall, exports, however, saw a pronounced downturn. The most prominent rate of growth was recorded in 2017 with an increase of 133%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for hot-rolled bearing steel bar exports from Saudi Arabia, accounting for a 95% share of total exports. Moreover, hot-rolled bearing steel bar exports to China exceeded the volume sent to the second major destination, Jordan (X tons), more than tenfold.

From 2020 to 2022, the average annual rate of growth in terms of volume to China amounted to +31.3%.

In value terms, China ($X) remains the key foreign market for hot-rolled bars in bearing steels exports from Saudi Arabia, comprising 89% of total exports. The second position in the ranking was held by Jordan ($X), with an 11% share of total exports.

From 2020 to 2022, the average annual growth rate of value to China totaled +18.7%.

Export Prices by Country

In 2022, the average hot-rolled bearing steel bar export price amounted to $X per ton, which is down by -34.1% against the previous year. Overall, the export price showed a precipitous decrease. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then shrank dramatically in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Jordan ($X per ton), while the average price for exports to China amounted to $X per ton.

From 2020 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (-9.6%).

Imports of Hot-Rolled Bars In Bearing Steels

Imports into Saudi Arabia

In 2020, approx. X tons of hot-rolled bars in bearing steels were imported into Saudi Arabia; reducing by -51.6% compared with 2019 figures. Overall, imports saw a drastic downturn. The pace of growth appeared the most rapid in 2019 with an increase of 73% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2020, imports failed to regain momentum.

In value terms, hot-rolled bearing steel bar imports fell remarkably to $X in 2020. Over the period under review, imports showed a abrupt descent. The growth pace was the most rapid in 2019 when imports increased by 36%. Imports peaked at $X in 2012; however, from 2013 to 2020, imports failed to regain momentum.

Imports by Country

China (X tons), Turkey (X tons) and South Korea (X tons) were the main suppliers of hot-rolled bearing steel bar imports to Saudi Arabia, with a combined 90% share of total imports.

From 2012 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of -4.8%), while imports for the other leaders experienced a decline.

In value terms, China ($X) constituted the largest supplier of hot-rolled bars in bearing steels to Saudi Arabia, comprising 47% of total imports. The second position in the ranking was held by Turkey ($X), with a 21% share of total imports.

From 2012 to 2020, the average annual growth rate of value from China totaled -15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-10.6% per year) and South Korea (+0.2% per year).

Import Prices by Country

In 2020, the average hot-rolled bearing steel bar import price amounted to $X per ton, standing approx. at the previous year. Overall, the import price, however, saw a perceptible slump. The pace of growth appeared the most rapid in 2018 when the average import price increased by 34%. The import price peaked at $X per ton in 2012; however, from 2013 to 2020, 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 South Korea ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by South Korea (+16.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for hot-rolled bars in bearing steels in the world?

China constituted the country with the largest volume of hot-rolled bearing steel bar consumption, comprising approx. 18% of total volume. Moreover, hot-rolled bearing steel bar consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The third position in this ranking was occupied by Turkey, with a 5.6% share.

What are the largest producers of hot-rolled bars in bearing steels in the world?

China constituted the country with the largest volume of hot-rolled bearing steel bar production, comprising approx. 44% of total volume. Moreover, hot-rolled bearing steel bar production in China exceeded the figures recorded by the second-largest producer, India, sevenfold. The third position in this ranking was occupied by Russia, with a 6% share.

What are the leading suppliers of hot-rolled bars in bearing steels to Saudi Arabia?

In value terms, the United Arab Emirates, China and Turkey were the largest hot-rolled bearing steel bar suppliers to Saudi Arabia, with a combined 82% share of total imports.

What is the average import price for hot-rolled bars in bearing steels in Saudi Arabia?

In 2021, the average hot-rolled bearing steel bar import price amounted to $999 per ton, with an increase of 1.7% against the previous year.

This report provides an in-depth analysis of the market for hot-rolled bearing steel bar in Saudi Arabia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24106630 - Hot-rolled bars in bearing steels

Country coverage:

Saudi Arabia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Saudi Arabia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023