Sweden: Market for Hot-Rolled Bars In Bearing Steels 2024

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

The Swedish hot-rolled bearing steel bar market expanded remarkably to $X in 2022, picking up by 7.9% against the previous year. In general, consumption continues to indicate a perceptible slump. Hot-rolled bearing steel bar consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Hot-Rolled Bars In Bearing Steels in Sweden

In value terms, hot-rolled bearing steel bar production skyrocketed to $X in 2022 estimated in export price. In general, production, however, continues to indicate a dramatic setback. The growth pace was the most rapid in 2017 with an increase of 220%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports from Sweden

Hot-rolled bearing steel bar exports from Sweden dropped to X tons in 2022, reducing by -5.2% compared with 2021 figures. Over the period under review, exports continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2021 when exports increased by 43%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, hot-rolled bearing steel bar exports stood at $X in 2022. Overall, exports recorded a pronounced setback. The growth pace was the most rapid in 2021 when exports increased by 49% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for hot-rolled bearing steel bar exports from Sweden, accounting for a 31% share of total exports. Moreover, hot-rolled bearing steel bar exports to Germany exceeded the volume sent to the second major destination, Poland (X tons), twofold. The third position in this ranking was taken by Romania (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled -4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+1.3% per year) and Romania (+19.4% per year).

In value terms, Germany ($X), Poland ($X) and Italy ($X) were the largest markets for hot-rolled bearing steel bar exported from Sweden worldwide, together comprising 44% of total exports. Romania, France, China, the UK, Austria, Norway, Hungary, Finland, Spain and the Czech Republic lagged somewhat behind, together comprising a further 40%.

Hungary, with a CAGR of +29.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average hot-rolled bearing steel bar export price amounted to $X per ton, surging by 8.2% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 20%. The export price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the Czech Republic ($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 China (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Bars In Bearing Steels

Imports into Sweden

In 2022, hot-rolled bearing steel bar imports into Sweden shrank to X tons, reducing by -8.7% against 2021. Overall, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.5% 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 +57.9% against 2017 indices. The growth pace was the most rapid in 2021 with an increase of 57%. As a result, imports attained the peak of X tons, and then contracted in the following year.

In value terms, hot-rolled bearing steel bar imports expanded sharply to $X in 2022. Over the period under review, total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +115.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 92% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Finland (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of hot-rolled bearing steel bar imports to Sweden, together comprising 92% of total imports. Spain and Poland lagged somewhat behind, together comprising a further 4.5%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +89.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Finland ($X), Italy ($X) and Germany ($X) constituted the largest hot-rolled bearing steel bar suppliers to Sweden, together comprising 87% of total imports. Spain and Poland lagged somewhat behind, together accounting for a further 6%.

Poland, with a CAGR of +92.1%, saw the highest growth rate of the value of imports, among the main suppliers 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, jumping by 23% against the previous year. In general, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.0% 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 +50.3% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Spain ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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