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

Market Size for Hot-Rolled Bars In Bearing Steels in the EU

After two years of decline, the EU hot-rolled bearing steel bar market increased by 27% to $X in 2021. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2021 and is likely to continue growth in years to come.

Production of Hot-Rolled Bars In Bearing Steels in the EU

In value terms, hot-rolled bearing steel bar production rose notably to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 17% against the previous year. The level of production peaked at $X in 2012; afterwards, it flattened through to 2021.

Exports of Hot-Rolled Bars In Bearing Steels

Exports in the EU

In 2021, after two years of decline, there was significant growth in overseas shipments of hot-rolled bars in bearing steels, when their volume increased by 30% to X tons. The total export volume increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled bearing steel bar exports surged to $X in 2021. Total exports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Germany (X tons) and Italy (X tons) were the major exporters of hot-rolled bars in bearing steels in the European Union, together resulting at near 40% of total exports. Belgium (X tons) took a 7.7% share (based on physical terms) of total exports, which put it in second place, followed by Poland (7.1%), the Czech Republic (7.1%), Romania (6.7%), Spain (6.2%) and France (5.8%). The following exporters - Sweden (X tons) and Finland (X tons) - each resulted at an 8.3% share of total exports.

From 2012 to 2021, the biggest increases were in Romania (with a CAGR of +26.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and France ($X) were the countries with the highest levels of exports in 2021, with a combined 47% share of total exports. The Czech Republic, Belgium, Poland, Spain, Sweden, Romania and Finland lagged somewhat behind, together accounting for a further 39%.

Among the main exporting countries, Romania, with a CAGR of +26.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, surging by 25% against the previous year. In general, the export price, however, saw a mild curtailment. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+0.0%), while the other leaders experienced a decline in the export price figures.

Imports of Hot-Rolled Bars In Bearing Steels

Imports in the EU

After two years of decline, overseas purchases of hot-rolled bars in bearing steels increased by 26% to X tons in 2021. The total import volume increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled bearing steel bar imports skyrocketed to $X in 2021. Total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons), distantly followed by Italy (X tons), France (X tons), Poland (X tons), Belgium (X tons), Spain (X tons), Lithuania (X tons), Sweden (X tons) and Austria (X tons) were the major importers of hot-rolled bars in bearing steels, together generating 77% of total imports. The following importers - Romania (X tons), the Netherlands (X tons), the Czech Republic (X tons) and Hungary (X tons) - together made up 14% of total imports.

Germany experienced a relatively flat trend pattern with regard to volume of imports of hot-rolled bars in bearing steels. At the same time, Lithuania (+49.4%), the Netherlands (+11.0%), Poland (+9.7%), Spain (+7.8%), Romania (+6.8%), Italy (+6.8%), Hungary (+5.8%), Belgium (+5.2%), Sweden (+3.8%), Austria (+3.6%) and the Czech Republic (+3.5%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing importer imported in the European Union, with a CAGR of +49.4% from 2012-2021. By contrast, France (-1.2%) illustrated a downward trend over the same period. While the share of Lithuania (+4.8 p.p.), Poland (+3.2 p.p.), Italy (+2.1 p.p.) and the Netherlands (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of France (-6 p.p.) and Germany (-9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported hot-rolled bars in bearing steels in the European Union, comprising 23% of total imports. The second position in the ranking was taken by Italy ($X), with an 11% share of total imports. It was followed by France, with a 9.4% share.

From 2012 to 2021, the average annual growth rate of value in Germany was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Italy (+4.3% per year) and France (-1.3% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2021, increasing by 26% against the previous year. In general, the import price, however, saw a mild reduction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+1.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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