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Report Sri Lanka - Hot-Rolled Bars in Bearing Steels - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Jan 1, 2025

Sri Lanka - Hot-Rolled Bars in Bearing Steels - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Market for Hot-Rolled Bars In Bearing Steels 2025

Market Size for Hot-Rolled Bars In Bearing Steels in Sri Lanka

The Sri Lankan hot-rolled bearing steel bar market dropped sharply to $X in 2022, waning by -52.5% 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 showed a deep setback. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports from Sri Lanka

In 2022, shipments abroad of hot-rolled bars in bearing steels was finally on the rise to reach X tons for the first time since 2014, thus ending a seven-year declining trend. In general, exports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 83% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, hot-rolled bearing steel bar exports skyrocketed to $X in 2022. Overall, exports, however, recorded a deep downturn. The pace of growth was the most pronounced in 2014 with an increase of 75%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

India (X tons) was the main destination for hot-rolled bearing steel bar exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to India amounted to -2.5%.

In value terms, India ($X) also remains the key foreign market for hot-rolled bars in bearing steels exports from Sri Lanka.

From 2012 to 2022, the average annual rate of growth in terms of value to India stood at +2.6%.

Export Prices by Country

In 2022, the average hot-rolled bearing steel bar export price amounted to $X per ton, reducing by -18.8% against the previous year. Over the period under review, the export price, however, saw a prominent increase. The pace of growth was the most pronounced in 2021 when the average export price increased by 39% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted remarkably in the following year.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +5.3% per year.

Imports of Hot-Rolled Bars In Bearing Steels

Imports into Sri Lanka

Hot-rolled bearing steel bar imports into Sri Lanka fell remarkably to X tons in 2022, which is down by -58.6% against 2021 figures. In general, imports showed a deep setback. The growth pace was the most rapid in 2013 with an increase of 272% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, hot-rolled bearing steel bar imports declined sharply to $X in 2022. Over the period under review, imports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2013 with an increase of 176%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of hot-rolled bearing steel bar to Sri Lanka, accounting for a 82% share of total imports. Moreover, hot-rolled bearing steel bar imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume from India amounted to +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-22.5% per year) and Taiwan (Chinese) (+17.1% per year).

In value terms, the largest hot-rolled bearing steel bar suppliers to Sri Lanka were India ($X), China ($X) and Taiwan (Chinese) ($X), together accounting for 95% of total imports.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +16.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average hot-rolled bearing steel bar import price stood at $X per ton in 2022, surging by 20% against the previous year. In general, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.7% 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 import price increased by +125.6% against 2015 indices. The growth pace was the most rapid in 2021 when the average import price increased by 37%. The import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The country with the largest volume of hot-rolled bearing steel bar consumption was China, accounting for 18% of total volume. Moreover, hot-rolled bearing steel bar consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. Turkey ranked third in terms of total consumption with a 5.6% share.
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. Russia ranked third in terms of total production with a 6% share.
In value terms, India, China and Hong Kong SAR constituted the largest hot-rolled bearing steel bar suppliers to Sri Lanka, with a combined 94% share of total imports.
In 2017, the average hot-rolled bearing steel bar export price amounted to $3,084 per ton, approximately equating the previous year.
In 2021, the average hot-rolled bearing steel bar import price amounted to $738 per ton, increasing by 6.7% against the previous year.

This report provides an in-depth analysis of the market for hot-rolled bearing steel bar in Sri Lanka. 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:

  • Sri Lanka

Data coverage:

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

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

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. 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. 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. 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. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    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, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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