Central Asia: Market for Hot-Rolled Bars In Bearing Steels 2023

Exports of Hot-Rolled Bars In Bearing Steels

Exports in Central Asia

In 2021, approx. X tons of hot-rolled bars in bearing steels were exported in Central Asia; shrinking by -20% on the previous year's figure. In general, exports, however, showed a strong increase. The pace of growth was the most pronounced in 2020 when exports increased by 126%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled bearing steel bar exports dropped remarkably to $X in 2021. Overall, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 203% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Kazakhstan (X tons) represented roughly 100% of total exports in 2021.

Kazakhstan was also the fastest-growing in terms of the hot-rolled bars in bearing steels exports, with a CAGR of +9.8% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) also remains the largest hot-rolled bearing steel bar supplier in Central Asia.

In Kazakhstan, hot-rolled bearing steel bar exports expanded at an average annual rate of +14.1% over the period from 2012-2021.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2021, which is down by -9.5% against the previous year. Over the period under review, the export price, however, enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2019 when the export price increased by 37% against the previous year. The level of export peaked at $X per ton in 2020, and then dropped in the following year.

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

From 2012 to 2021, the rate of growth in terms of prices for Kazakhstan amounted to +3.9% per year.

Imports of Hot-Rolled Bars In Bearing Steels

Imports in Central Asia

In 2021, imports of hot-rolled bars in bearing steels in Central Asia skyrocketed to X tons, jumping by 25% on the year before. In general, imports, however, saw a abrupt decrease. The growth pace was the most rapid in 2017 with an increase of 31% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, hot-rolled bearing steel bar imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 65%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Kazakhstan represented the main importer of hot-rolled bars in bearing steels in Central Asia, with the volume of imports accounting for X tons, which was near 78% of total imports in 2021. Mongolia (X tons) ranks second in terms of the total imports with a 10% share, followed by Tajikistan (9.1%). Uzbekistan (X tons) took a minor share of total imports.

Imports into Kazakhstan decreased at an average annual rate of -1.8% from 2012 to 2021. At the same time, Tajikistan (+31.5%) and Uzbekistan (+1.6%) displayed positive paces of growth. Moreover, Tajikistan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +31.5% from 2012-2021. By contrast, Mongolia (-19.7%) illustrated a downward trend over the same period. While the share of Kazakhstan (+23 p.p.), Tajikistan (+8.7 p.p.) and Uzbekistan (+3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Mongolia (-34.2 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) constitutes the largest market for imported hot-rolled bars in bearing steels in Central Asia, comprising 77% of total imports. The second position in the ranking was held by Mongolia ($X), with a 9.5% share of total imports. It was followed by Tajikistan, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value in Kazakhstan totaled -5.1%. In the other countries, the average annual rates were as follows: Mongolia (-18.7% per year) and Tajikistan (+28.6% per year).

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2021, growing by 15% against the previous year. Overall, the import price, however, saw a slight curtailment. The pace of growth was the most pronounced in 2017 when the import price increased by 26%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Uzbekistan ($X per ton), while Mongolia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+2.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :