CIS: Market for Forged Bars Of Stainless Steel 2024

Market Size for Forged Bars Of Stainless Steel in CIS

The CIS forged stainless steel bar market reduced to $X in 2023, remaining relatively unchanged against the previous year. Over the period under review, consumption saw a deep setback. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Production of Forged Bars Of Stainless Steel in CIS

In value terms, forged stainless steel bar production fell modestly to $X in 2023 estimated in export price. Over the period under review, production saw a drastic downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

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Exports of Forged Bars Of Stainless Steel

Exports in CIS

In 2023, shipments abroad of forged bars of stainless steel decreased by X% to X tons, falling for the third consecutive year after three years of growth. In general, exports showed a drastic downturn. The growth pace was the most rapid in 2019 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

In value terms, forged stainless steel bar exports skyrocketed to $X in 2023. Over the period under review, exports recorded a deep reduction. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Russia (X tons) was the key exporter of forged bars of stainless steel in the CIS, making up X% of total export.

Russia was also the fastest-growing in terms of the forged bars of stainless steel exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) also remains the largest forged stainless steel bar supplier in the CIS.

In Russia, forged stainless steel bar exports decreased by an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2023, surging by X% against the previous year. Overall, the export price, however, continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

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

From 2012 to 2023, the rate of growth in terms of prices for Russia amounted to X% per year.

Imports of Forged Bars Of Stainless Steel

Imports in CIS

For the seventh consecutive year, the CIS recorded growth in purchases abroad of forged bars of stainless steel, which increased by X% to X tons in 2023. In general, imports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2023 and are likely to continue growth in the immediate term.

In value terms, forged stainless steel bar imports totaled $X in 2023. Over the period under review, imports continue to indicate resilient growth. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. The level of import peaked in 2023 and is likely to continue growth in years to come.

Imports by Country

Russia dominates imports structure, recording X tons, which was approx. X% of total imports in 2023. It was distantly followed by Kazakhstan (X tons), committing a X% share of total imports. Uzbekistan (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to forged stainless steel bar imports into Russia stood at X%. At the same time, Uzbekistan (X%) and Kazakhstan (X%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Russia, Kazakhstan and Uzbekistan increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported forged bars of stainless steel in the CIS, comprising X% of total imports. The second position in the ranking was held by Uzbekistan ($X), with a X% share of total imports.

From 2012 to 2023, the average annual growth rate of value in Russia amounted to X%. In the other countries, the average annual rates were as follows: Uzbekistan (X% per year) and Kazakhstan (X% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2023, picking up by X% against the previous year. Over the period under review, the import price, however, saw a noticeable reduction. The pace of growth appeared the most rapid in 2017 an increase of X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform