CIS: Market for Hot-Rolled Bars In Bearing Steels 2024

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

In 2023, the CIS hot-rolled bearing steel bar market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption saw a abrupt shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Production of Hot-Rolled Bars In Bearing Steels in CIS

In value terms, hot-rolled bearing steel bar production totaled $X in 2023 estimated in export price. Over the period under review, production saw a noticeable reduction. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. 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 Hot-Rolled Bars In Bearing Steels

Exports in CIS

In 2023, hot-rolled bearing steel bar exports in the CIS totaled X tons, picking up by X% on the year before. Total exports indicated a strong increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 when exports increased by X%. The volume of export peaked in 2023 and is expected to retain growth in the near future.

In value terms, hot-rolled bearing steel bar exports expanded to $X in 2023. Total exports indicated a measured expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

Russia was the main exporter of hot-rolled bars in bearing steels in the CIS, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2023. It was distantly followed by Belarus (X tons), constituting a X% share of total exports. Uzbekistan (X tons) took a little share of total exports.

From 2012 to 2023, average annual rates of growth with regard to hot-rolled bearing steel bar exports from Russia stood at X%. At the same time, Uzbekistan (X%) and Belarus (X%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Belarus and Uzbekistan increased by X and X percentage points, respectively.

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

From 2012 to 2023, the average annual rate of growth in terms of value in Russia was relatively modest. In the other countries, the average annual rates were as follows: Belarus (X% per year) and Uzbekistan (X.7% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2023, approximately mirroring 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% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while Russia ($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 mixed trends in the export price figures.

Imports of Hot-Rolled Bars In Bearing Steels

Imports in CIS

In 2023, after two years of growth, there was significant decline in purchases abroad of hot-rolled bars in bearing steels, when their volume decreased by X% to X tons. Overall, imports showed a mild reduction. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, hot-rolled bearing steel bar imports reduced to $X in 2023. In general, imports recorded a pronounced descent. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

Belarus was the main importer of hot-rolled bars in bearing steels in the CIS, with the volume of imports amounting to X tons, which was near X% of total imports in 2023. Kazakhstan (X tons) took the second position in the ranking, distantly followed by Russia (X tons). All these countries together took near X% share of total imports. Tajikistan (X tons) and Uzbekistan (X tons) held a little share of total imports.

Imports into Belarus decreased at an average annual rate of X% from 2012 to 2023. At the same time, Tajikistan (X%) and Uzbekistan (X%) displayed positive paces of growth. Moreover, Tajikistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of X% from 2012-2023. By contrast, Kazakhstan (X%) and Russia (X%) illustrated a downward trend over the same period. Tajikistan (X p.p.) and Uzbekistan (X p.p.) significantly strengthened its position in terms of the total imports, while Belarus saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

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

Import Prices by Country

The import price in the CIS stood at $X per ton in 2023, dropping by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Russia ($X per ton), while Kazakhstan ($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 mixed trends in the import price figures.

Source: IndexBox Platform