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

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

The Malaysian hot-rolled bearing steel bar market skyrocketed to $X in 2023, surging by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2023, the growth of the market remained at a somewhat lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports from Malaysia

In 2023, the amount of hot-rolled bars in bearing steels exported from Malaysia contracted significantly to X tons, with a decrease of X% on 2022 figures. Overall, exports, however, showed buoyant growth. The pace of growth was the most pronounced in 2016 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2017 to 2023, the growth of the exports failed to regain momentum.

In value terms, hot-rolled bearing steel bar exports reduced sharply to $X in 2023. In general, exports, however, enjoyed tangible growth. The growth pace was the most rapid in 2016 with an increase of X%. The exports peaked at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

Australia (X tons) was the main destination for hot-rolled bearing steel bar exports from Malaysia, with a X% share of total exports. Moreover, hot-rolled bearing steel bar exports to Australia exceeded the volume sent to the second major destination, Singapore (X tons), more than tenfold. Thailand (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Australia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and Thailand (X% per year).

In value terms, Australia ($X) emerged as the key foreign market for hot-rolled bars in bearing steels exports from Malaysia, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports. It was followed by Indonesia, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Australia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2023, the average hot-rolled bearing steel bar export price amounted to $X per ton, which is down by X% against the previous year. Overall, the export price recorded a perceptible decline. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced a decline.

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Imports of Hot-Rolled Bars In Bearing Steels

Imports into Malaysia

In 2023, overseas purchases of hot-rolled bars in bearing steels increased by X% to X tons, rising for the second year in a row after three years of decline. In general, imports showed a measured expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, imports reached the peak of X tons. From 2016 to 2023, the growth of imports failed to regain momentum.

In value terms, hot-rolled bearing steel bar imports surged to $X in 2023. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, China (X tons) constituted the largest hot-rolled bearing steel bar supplier to Malaysia, 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, South Korea (X tons), more than tenfold.

From 2012 to 2023, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, China ($X) constituted the largest supplier of hot-rolled bars in bearing steels to Malaysia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports.

From 2012 to 2023, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2023, the average hot-rolled bearing steel bar import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, showed a slight slump. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform