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

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

The MERCOSUR hot-rolled bearing steel bar market soared to $X in 2023, jumping by X% against the previous year. Overall, consumption, however, continues to indicate a noticeable reduction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Production of Hot-Rolled Bars In Bearing Steels in MERCOSUR

In value terms, hot-rolled bearing steel bar production declined modestly to $X in 2023 estimated in export price. Over the period under review, production recorded a noticeable descent. The growth pace was the most rapid in 2018 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports in MERCOSUR

After two years of growth, shipments abroad of hot-rolled bars in bearing steels decreased by X% to X tons in 2023. Overall, exports, however, saw a moderate increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2022, and then reduced rapidly in the following year.

In value terms, hot-rolled bearing steel bar exports dropped sharply to $X in 2023. Over the period under review, exports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2022, and then dropped notably in the following year.

Exports by Country

Chile was the largest exporting country with an export of about X tons, which reached X% of total exports. It was distantly followed by Brazil (X tons), generating a X% share of total exports. Argentina (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Chile (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest hot-rolled bearing steel bar supplying countries in MERCOSUR were Chile ($X), Brazil ($X) and Argentina ($X), together comprising X% of total exports.

Chile, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in MERCOSUR amounted to $X per ton, picking up by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2023 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced a decline in the export price figures.

Imports of Hot-Rolled Bars In Bearing Steels

Imports in MERCOSUR

Hot-rolled bearing steel bar imports expanded markedly to X tons in 2023, picking up by X% against 2022 figures. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, hot-rolled bearing steel bar imports rose sharply to $X in 2023. Total imports 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, imports decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Peru represented the main importer of hot-rolled bars in bearing steels in MERCOSUR, with the volume of imports reaching X tons, which was approx. X% of total imports in 2023. Chile (X tons) ranks second in terms of the total imports with a X% share, followed by Brazil (X%) and Argentina (X%). Colombia (X tons) followed a long way behind the leaders.

Peru was also the fastest-growing in terms of the hot-rolled bars in bearing steels imports, with a CAGR of X% from 2012 to 2023. At the same time, Brazil (X%) displayed positive paces of growth. Colombia experienced a relatively flat trend pattern. By contrast, Chile (X%) and Argentina (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Peru increased by X percentage points.

In value terms, the largest hot-rolled bearing steel bar importing markets in MERCOSUR were Peru ($X), Brazil ($X) and Chile ($X), with a combined X% share of total imports.

Peru, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2023, stabilizing at the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform