United Kingdom: Market for Hot-Rolled Bars Of High Speed Steel 2025

Market Size for Hot-Rolled Bars Of High Speed Steel in the UK

The UK market for hot-rolled bars of high speed steel contracted to $X in 2022, with a decrease of -9.7% against the previous year. In general, consumption saw a perceptible decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Hot-Rolled Bars Of High Speed Steel in the UK

In value terms, hot-rolled high speed steel bar production shrank to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable decrease. The most prominent rate of growth was recorded in 2021 when the production volume increased by 30% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Hot-Rolled Bars Of High Speed Steel

Exports from the UK

In 2022, shipments abroad of hot-rolled bars of high speed steel increased by 78% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, exports, however, showed a significant contraction. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, hot-rolled high speed steel bar exports surged to $X in 2022. Overall, exports, however, faced a abrupt contraction. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), Ireland (X tons) and Kenya (X tons) were the main destinations of hot-rolled high speed steel bar exports from the UK, with a combined 88% share of total exports. Germany, Poland and Romania lagged somewhat behind, together accounting for a further 4.7%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +4.9%), while the other leaders experienced a decline.

In value terms, Ireland ($X) remains the key foreign market for hot-rolled bars of high speed steel exports from the UK, comprising 74% of total exports. The second position in the ranking was held by the United States ($X), with a 10% share of total exports. It was followed by Germany, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ireland stood at -5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-13.9% per year) and Germany (-12.9% per year).

Export Prices by Country

The average export price for hot-rolled bars of high speed steel stood at $X per ton in 2022, with an increase of 8.4% against the previous year. In general, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled high speed steel bar export price increased by +44.6% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by 33% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Kenya ($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 Turkey (+20.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Bars Of High Speed Steel

Imports into the UK

In 2022, supplies from abroad of hot-rolled bars of high speed steel increased by 47% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports posted a tangible increase. The growth pace was the most rapid in 2016 with an increase of 182% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, hot-rolled high speed steel bar imports soared to $X in 2022. In general, total imports indicated a perceptible 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 +56.6% against 2020 indices. The growth pace was the most rapid in 2017 when imports increased by 68%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Austria (X tons), China (X tons) and France (X tons) were the main suppliers of hot-rolled high speed steel bar imports to the UK, together accounting for 71% of total imports. Sweden, Hong Kong SAR, Italy, Germany, Spain, Ireland, Turkey and Poland lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +151.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled high speed steel bar suppliers to the UK were Austria ($X), France ($X) and China ($X), together comprising 81% of total imports. Sweden, Hong Kong SAR, Germany, Italy, Spain, Turkey, Ireland and Poland lagged somewhat behind, together comprising a further 17%.

Among the main suppliers, Hong Kong SAR, with a CAGR of +89.6%, saw 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

In 2022, the average import price for hot-rolled bars of high speed steel amounted to $X per ton, falling by -1.6% against the previous year. In general, the import price, however, continues to indicate a slight increase. The pace of growth was the most pronounced in 2021 when the average import price increased by 196%. As a result, import price reached the peak level of $X per ton, and then shrank modestly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Poland ($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 (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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