CIS: Market for Hot-Rolled Bars In Bearing Steels 2023

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

The CIS hot-rolled bearing steel bar market skyrocketed to $X in 2021, increasing by 59% against the previous year. In general, consumption, however, showed a abrupt downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Hot-Rolled Bars In Bearing Steels in CIS

In value terms, hot-rolled bearing steel bar production rose remarkably to $X in 2021 estimated in export price. Overall, production continues to indicate a mild downturn. The pace of growth was the most pronounced in 2018 with an increase of 17%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Hot-Rolled Bars In Bearing Steels

Exports in CIS

In 2021, hot-rolled bearing steel bar exports in the CIS declined to X tons, approximately equating the previous year's figure. Total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +26.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 27%. As a result, the exports attained the peak of X tons, leveling off in the following year.

In value terms, hot-rolled bearing steel bar exports skyrocketed to $X in 2021. Total exports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when exports increased by 49% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Russia represented the main exporting country with an export of about X tons, which amounted to 86% of total exports. It was distantly followed by Belarus (X tons), generating a 13% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to hot-rolled bearing steel bar exports from Russia stood at +4.9%. At the same time, Belarus (+16.8%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +16.8% from 2012-2021. Belarus (+7.9 p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by -8.1% from 2012 to 2021, respectively.

In value terms, Russia ($X) remains the largest hot-rolled bearing steel bar supplier in the CIS, comprising 83% of total exports. The second position in the ranking was held by Belarus ($X), with a 17% share of total exports.

In Russia, hot-rolled bearing steel bar exports remained relatively stable over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in the CIS amounted to $X per ton, rising by 29% against the previous year. Over the period under review, the export price, however, recorded a pronounced curtailment. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Belarus ($X per ton), while Russia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (-0.0%).

Imports of Hot-Rolled Bars In Bearing Steels

Imports in CIS

In 2021, purchases abroad of hot-rolled bars in bearing steels was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, showed a noticeable descent. The pace of growth was the most pronounced in 2017 when imports increased by 45% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, hot-rolled bearing steel bar imports soared to $X in 2021. In general, imports, however, continue to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 84% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Belarus (X tons) represented the key importer of hot-rolled bars in bearing steels, constituting 54% of total imports. Kazakhstan (X tons) took the second position in the ranking, distantly followed by Russia (X tons). All these countries together took near 40% share of total imports. Tajikistan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Tajikistan (with a CAGR of +31.5%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Belarus ($X) constitutes the largest market for imported hot-rolled bars in bearing steels in the CIS, comprising 56% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 27% share of total imports. It was followed by Russia, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Belarus amounted to -4.7%. In the other countries, the average annual rates were as follows: Kazakhstan (-5.1% per year) and Russia (-3.9% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2021, increasing by 29% against the previous year. In general, the import price, however, saw a slight shrinkage. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Russia ($X per ton), while Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (-0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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