Australia and Oceania: Market for Hot-Rolled Bars In Bearing Steels 2023

Market Size for Hot-Rolled Bars In Bearing Steels in Australia and Oceania

In 2021, the hot-rolled bearing steel bar market in Australia and Oceania increased by 56% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, saw a abrupt contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Hot-Rolled Bars In Bearing Steels in Australia and Oceania

In value terms, hot-rolled bearing steel bar production expanded slightly to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by 11% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports in Australia and Oceania

In 2021, shipments abroad of hot-rolled bars in bearing steels decreased by -9.5% to X tons, falling for the second year in a row after two years of growth. Overall, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 154% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, hot-rolled bearing steel bar exports rose remarkably to $X in 2021. Over the period under review, exports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of 169% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of hot-rolled bars in bearing steels, namely Australia, represented more than two-thirds of total export.

Australia was also the fastest-growing in terms of the hot-rolled bars in bearing steels exports, with a CAGR of +11.3% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) also remains the largest hot-rolled bearing steel bar supplier in Australia and Oceania.

From 2012 to 2021, the average annual growth rate of value in Australia totaled +10.9%.

Export Prices by Country

In 2021, the export price in Australia and Oceania amounted to $X per ton, growing by 22% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Australia amounted to -0.4% per year.

Imports of Hot-Rolled Bars In Bearing Steels

Imports in Australia and Oceania

In 2021, purchases abroad of hot-rolled bars in bearing steels increased by 77% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, saw a abrupt slump. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, hot-rolled bearing steel bar imports surged to $X in 2021. Overall, imports, however, saw a abrupt downturn. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Australia (X tons) and New Zealand (X tons) represented the largest importers of hot-rolled bars in bearing steels in Australia and Oceania, together finishing at near 70% of total imports. It was distantly followed by Papua New Guinea (X tons), mixing up a 21% share of total imports. The following importers - Solomon Islands (X tons) and Vanuatu (X tons) - each accounted for a 3.9% share of total imports.

From 2012 to 2021, the biggest increases were in New Zealand (with a CAGR of +17.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), New Zealand ($X) and Papua New Guinea ($X) were the countries with the highest levels of imports in 2021, with a combined 94% share of total imports.

Among the main importing countries, New Zealand, with a CAGR of +11.9%, saw the highest rates of growth with regard to 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

The import price in Australia and Oceania stood at $X per ton in 2021, increasing by 77% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. 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 importing countries. In 2021, the country with the highest price was Australia ($X per ton), while Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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