South-Eastern Asia: Market for Hot-Rolled Bars In Bearing Steels 2024

Market Size for Hot-Rolled Bars In Bearing Steels in South-Eastern Asia

In 2023, after two years of growth, there was significant decline in the Southeast Asian hot-rolled bearing steel bar market, when its value decreased by X% to $X. Over the period under review, consumption, however, posted modest growth. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market remained at a somewhat lower figure.

Production of Hot-Rolled Bars In Bearing Steels in South-Eastern Asia

In value terms, hot-rolled bearing steel bar production reduced to $X in 2023 estimated in export price. In general, production, however, showed a sharp reduction. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, production attained the peak level of $X. From 2017 to 2023, production growth remained at a lower figure.

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Exports of Hot-Rolled Bars In Bearing Steels

Exports in South-Eastern Asia

In 2023, the amount of hot-rolled bars in bearing steels exported in South-Eastern Asia rose significantly to X tons, surging by X% compared with the year before. In general, exports, however, showed a drastic downturn. The growth pace was the most rapid in 2016 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2017 to 2023, the growth of the exports remained at a lower figure.

In value terms, hot-rolled bearing steel bar exports reduced dramatically to $X in 2023. Over the period under review, exports, however, saw a abrupt decline. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons) and Singapore (X tons) dominates exports structure, together mixing up X% of total exports. It was distantly followed by Indonesia (X tons), achieving a X% share of total exports. Malaysia (X tons) and Vietnam (X tons) held a relatively small share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Malaysia (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest hot-rolled bearing steel bar supplying countries in South-Eastern Asia were Singapore ($X), Thailand ($X) and Indonesia ($X), together accounting for X% of total exports. Malaysia and Vietnam lagged somewhat behind, together comprising a further X%.

Malaysia, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The export price in South-Eastern Asia stood at $X per ton in 2023, falling by X% against the previous year. In general, the export price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

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

Imports of Hot-Rolled Bars In Bearing Steels

Imports in South-Eastern Asia

Hot-rolled bearing steel bar imports dropped to X tons in 2023, waning by X% compared with the previous year's figure. Over the period under review, imports, however, recorded mild growth. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2023, imports failed to regain momentum.

In value terms, hot-rolled bearing steel bar imports fell markedly to $X in 2023. Overall, imports, however, saw a slight expansion. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Thailand (X tons) and Indonesia (X tons) were the largest importers of hot-rolled bars in bearing steels in South-Eastern Asia, together recording near X% of total imports. Vietnam (X tons) held the next position in the ranking, distantly followed by Malaysia (X tons). All these countries together took near X% share of total imports. The Philippines (X tons), Lao People's Democratic Republic (X tons) and Cambodia (X tons) took a relatively small share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Lao People's Democratic Republic (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled bearing steel bar importing markets in South-Eastern Asia were Indonesia ($X), Thailand ($X) and Vietnam ($X), with a combined X% share of total imports. Malaysia, the Philippines, Lao People's Democratic Republic and Cambodia lagged somewhat behind, together comprising a further X%.

Lao People's Democratic Republic, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2023, declining by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2022, and then declined in the following year.

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

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

Source: IndexBox Platform