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

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

In 2023, after two years of growth, there was significant decline in the Portuguese hot-rolled bearing steel bar market, when its value decreased by X% to $X. Over the period under review, consumption recorded a drastic downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports from Portugal

After two years of decline, shipments abroad of hot-rolled bars in bearing steels increased by X% to X tons in 2023. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, hot-rolled bearing steel bar exports contracted to $X in 2023. Overall, exports enjoyed a measured expansion. The growth pace was the most rapid in 2015 when exports increased by X%. The exports peaked at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for hot-rolled bearing steel bar exports from Portugal, with a X% share of total exports. Moreover, hot-rolled bearing steel bar exports to Spain exceeded the volume sent to the second major destination, Italy (X tons), fourfold. The third position in this ranking was held by the UK (X tons), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Spain amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and the UK (X% per year).

In value terms, Spain ($X) remains the key foreign market for hot-rolled bars in bearing steels exports from Portugal, comprising X% of total exports. The second position in the ranking was held by the UK ($X), with a X% share of total exports. It was followed by Italy, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Spain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Italy (X% per year).

Export Prices by Country

In 2023, the average hot-rolled bearing steel bar export price amounted to $X per ton, falling by X% against the previous year. Overall, export price indicated a mild expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, hot-rolled bearing steel bar export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted remarkably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Italy ($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 Brazil (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Imports of Hot-Rolled Bars In Bearing Steels

Imports into Portugal

In 2023, the amount of hot-rolled bars in bearing steels imported into Portugal shrank to X tons, waning by X% on the previous year's figure. In general, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of X%. Imports peaked at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, hot-rolled bearing steel bar imports declined sharply to $X in 2023. Overall, imports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Spain (X tons), China (X tons) and Germany (X tons) were the main suppliers of hot-rolled bearing steel bar imports to Portugal, with a combined X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Germany ($X) and China ($X) constituted the largest hot-rolled bearing steel bar suppliers to Portugal, together comprising X% of total imports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average hot-rolled bearing steel bar import price amounted to $X per ton, dropping by X% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, hot-rolled bearing steel bar import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2022 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced rapidly in the following year.

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

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

Source: IndexBox Platform