Hong Kong SAR, China: Market for Hot-Rolled Bars In Bearing Steels 2022

Market Size for Hot-Rolled Bars In Bearing Steels in Hong Kong SAR, China

In 2021, the Hong Kong hot-rolled bearing steel bar market decreased by -X% to $X, falling for the third consecutive year after two years of growth. In general, consumption showed a perceptible contraction. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Hot-Rolled Bars In Bearing Steels in Hong Kong SAR, China

In value terms, hot-rolled bearing steel bar production expanded slightly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports from Hong Kong SAR, China

In 2021, exports of hot-rolled bars in bearing steels from Hong Kong SAR skyrocketed to X tons, growing by X% on 2020. Overall, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, hot-rolled bearing steel bar exports soared to $X in 2021. Over the period under review, exports showed a buoyant increase. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for hot-rolled bearing steel bar exports from Hong Kong SAR, with a approx. X% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to China totaled +X%.

In value terms, China ($X) also remains the key foreign market for hot-rolled bearing steel bar exports from Hong Kong SAR.

From 2012 to 2021, the average annual growth rate of value to China stood at +X%.

Export Prices by Country

The average hot-rolled bearing steel bar export price stood at $X per ton in 2021, declining by -X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the the average export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -X% per year.

Imports of Hot-Rolled Bars In Bearing Steels

Imports into Hong Kong SAR, China

In 2021, purchases abroad of hot-rolled bars in bearing steels was finally on the rise to reach X tons after three years of decline. In general, imports, however, continue to indicate a abrupt shrinkage. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, hot-rolled bearing steel bar imports skyrocketed to $X in 2021. Overall, imports, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of hot-rolled bearing steel bar to Hong Kong SAR, accounting for a X% share of total imports. Moreover, hot-rolled bearing steel bar imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), ninefold. The third position in this ranking was occupied by Germany (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+X% per year) and Germany (-X% per year).

In value terms, the largest hot-rolled bearing steel bar suppliers to Hong Kong SAR were China ($X), Germany ($X) and Taiwan (Chinese) ($X), together accounting for X% of total imports.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average hot-rolled bearing steel bar import price stood at $X per ton in 2021, which is down by -X% against the previous year. In general, the import price recorded a pronounced slump. The pace of growth appeared the most rapid in 2014 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2020, and then shrank markedly in the following year.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform