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

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

In 2021, the Europe hot-rolled bearing steel bar market increased by 30% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Hot-Rolled Bars In Bearing Steels in Europe

In value terms, hot-rolled bearing steel bar production stood at $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports in Europe

In 2021, shipments abroad of hot-rolled bars in bearing steels was finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of +3.3% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled bearing steel bar exports soared to $X in 2021. Total exports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.3% 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

Germany (X tons), Russia (X tons) and Italy (X tons) represented roughly 47% of total exports in 2021. It was distantly followed by Belgium (X tons), Poland (X tons), the Czech Republic (X tons), Romania (X tons), Spain (X tons) and France (X tons), together achieving a 33% share of total exports. Sweden (X tons), Finland (X tons), Slovenia (X tons) and Belarus (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Romania (with a CAGR of +26.6%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Russia ($X) constituted the countries with the highest levels of exports in 2021, with a combined 42% share of total exports. France, the Czech Republic, Belgium, Poland, Spain, Sweden, Romania, Slovenia, Finland and Belarus lagged somewhat behind, together comprising a further 46%.

In terms of 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

The export price in Europe stood at $X per ton in 2021, increasing by 26% against the previous year. In general, the export price, however, recorded a slight reduction. 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 failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was France ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovenia (+0.9%), while the other leaders experienced mixed trends in the export price figures.

Imports of Hot-Rolled Bars In Bearing Steels

Imports in Europe

After two years of decline, supplies from abroad of hot-rolled bars in bearing steels increased by 28% to X tons in 2021. The total import volume increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports reached the peak figure at X tons in 2018; afterwards, it flattened through to 2021.

In value terms, hot-rolled bearing steel bar imports surged to $X in 2021. Total imports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.0% 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) and Lithuania (X tons) represented the largest importers of hot-rolled bars in bearing steels, together achieving 61% of total imports. The following importers - Sweden (X tons), Austria (X tons), Romania (X tons), the Netherlands (X tons), the UK (X tons) and the Czech Republic (X tons) - together made up 22% 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%), Belgium (+5.2%), Sweden (+3.8%), Austria (+3.6%), the Czech Republic (+3.5%) and the UK (+1.1%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing importer imported in Europe, with a CAGR of +49.4% from 2012-2021. By contrast, France (-1.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Lithuania, Poland, Italy and the Netherlands increased by +4.3, +3.2, +2.4 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported hot-rolled bars in bearing steels in Europe, comprising 20% of total imports. The second position in the ranking was held by Italy ($X), with a 10% share of total imports. It was followed by France, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value in Germany was relatively modest. In the other countries, the average annual rates were as follows: Italy (+4.3% per year) and France (-1.3% per year).

Import Prices by Country

In 2021, the import price in Europe amounted to $X per ton, jumping by 26% against the previous year. Overall, the import price, however, showed a slight decline. The level of import peaked 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 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 Market Intelligence Platform

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