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

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

In 2022, the Scandinavia hot-rolled bearing steel bar market increased by 46% to $X, rising for the second year in a row after two years of decline. The total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +109.2% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Hot-Rolled Bars In Bearing Steels in Scandinavia

In value terms, hot-rolled bearing steel bar production reduced to $X in 2022 estimated in export price. Overall, production, however, faced a deep contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 48%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports in Scandinavia

In 2022, shipments abroad of hot-rolled bars in bearing steels increased by 1.4% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, recorded a slight setback. The most prominent rate of growth was recorded in 2021 when exports increased by 35%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, hot-rolled bearing steel bar exports soared to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 52% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Finland (X tons) and Sweden (X tons) represented roughly 99.9% of total exports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Finland (with a CAGR of +2.0%).

In value terms, the largest hot-rolled bearing steel bar supplying countries in Scandinavia were Finland ($X) and Sweden ($X).

Finland, with a CAGR of +4.2%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, growing by 19% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the export price increased by 21%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while Sweden totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+2.1%).

Imports of Hot-Rolled Bars In Bearing Steels

Imports in Scandinavia

After four years of growth, overseas purchases of hot-rolled bars in bearing steels decreased by -8.2% to X tons in 2022. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when imports increased by 27% against the previous year. The volume of import peaked at X tons in 2021, and then shrank in the following year.

In value terms, hot-rolled bearing steel bar imports expanded sharply to $X in 2022. Total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.9% 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 +71.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 49%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

Sweden was the major importer of hot-rolled bars in bearing steels in Scandinavia, with the volume of imports finishing at X tons, which was approx. 80% of total imports in 2022. It was distantly followed by Finland (X tons) and Norway (X tons), together achieving a 20% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to hot-rolled bearing steel bar imports into Sweden stood at +2.5%. At the same time, Finland (+2.5%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +2.5% from 2012-2022. Norway experienced a relatively flat trend pattern. From 2012 to 2022, the share of Sweden increased by +2 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) constitutes the largest market for imported hot-rolled bars in bearing steels in Scandinavia, comprising 77% of total imports. The second position in the ranking was held by Finland ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Sweden stood at +3.6%. In the other countries, the average annual rates were as follows: Finland (+0.7% per year) and Norway (+1.6% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, jumping by 25% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 35% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+2.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform