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

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

The Thai hot-rolled bearing steel bar market fell slightly to $X in 2022, reducing 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). Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports from Thailand

In 2022, approx. X tons of hot-rolled bars in bearing steels were exported from Thailand; picking up by X% compared with the previous year. Over the period under review, exports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, hot-rolled bearing steel bar exports expanded rapidly to $X in 2022. Overall, exports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Australia (X tons), Papua New Guinea (X tons) and South Korea (X tons) were the main destinations of hot-rolled bearing steel bar exports from Thailand, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), Papua New Guinea ($X) and South Korea ($X) appeared to be the largest markets for hot-rolled bearing steel bar exported from Thailand worldwide, together comprising X% of total exports.

Among the main countries of destination, South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average hot-rolled bearing steel bar export price amounted to $X per ton, surging by X% against the previous year. Over the period under review, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled bearing steel bar export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lao People's Democratic Republic (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 Thailand

In 2022, approx. X tons of hot-rolled bars in bearing steels were imported into Thailand; waning by X% compared with 2021. Overall, imports saw a mild setback. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, hot-rolled bearing steel bar imports reached $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), China (X tons) and South Korea (X tons) were the main suppliers of hot-rolled bearing steel bar imports to Thailand, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X), China ($X) and South Korea ($X) were the largest hot-rolled bearing steel bar suppliers to Thailand, together accounting for X% of total imports.

In terms of the main suppliers, South Korea, with a CAGR of X%, recorded 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

In 2022, the average hot-rolled bearing steel bar import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and India ($X per ton), while the price for China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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