U.S.: Market for Hot-Rolled Bars In Bearing Steels 2023

Market Size for Hot-Rolled Bars In Bearing Steels in the U.S.

In 2021, the U.S. hot-rolled bearing steel bar market increased by 57% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption posted a buoyant increase. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Exports of Hot-Rolled Bars In Bearing Steels

Exports from the U.S.

After two years of decline, shipments abroad of hot-rolled bars in bearing steels increased by 3.3% to X tons in 2021. Over the period under review, exports, however, continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 38% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, hot-rolled bearing steel bar exports soared to $X in 2021. Overall, exports, however, continue to indicate a deep slump. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X tons), Canada (X tons) and China (X tons) were the main destinations of hot-rolled bearing steel bar exports from the United States, with a combined 96% share of total exports.

From 2012 to 2021, the biggest increases were in Canada (with a CAGR of -19.7%), while shipments for the other leaders experienced a decline.

In value terms, Mexico ($X), Canada ($X) and China ($X) constituted the largest markets for hot-rolled bearing steel bar exported from the United States worldwide, together accounting for 96% of total exports.

Among the main countries of destination, Mexico, with a CAGR of -4.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average hot-rolled bearing steel bar export price stood at $X per ton in 2021, surging by 67% against the previous year. Overall, the export price continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 234% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+25.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Bars In Bearing Steels

Imports into the U.S.

In 2021, after three years of decline, there was significant growth in purchases abroad of hot-rolled bars in bearing steels, when their volume increased by 27% to X tons. Over the period under review, imports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 50% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, hot-rolled bearing steel bar imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a abrupt slump. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Canada (X tons) constituted the largest supplier of hot-rolled bearing steel bar to the United States, accounting for a 63% share of total imports. Moreover, hot-rolled bearing steel bar imports from Canada exceeded the figures recorded by the second-largest supplier, Japan (X tons), eightfold. The third position in this ranking was taken by South Korea (X tons), with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume from Canada stood at -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-5.3% per year) and South Korea (-10.8% per year).

In value terms, Canada ($X) constituted the largest supplier of hot-rolled bearing steel bar to the United States, comprising 57% of total imports. The second position in the ranking was held by Japan ($X), with an 8.3% share of total imports. It was followed by South Korea, with an 8% share.

From 2012 to 2021, the average annual growth rate of value from Canada amounted to -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-7.0% per year) and South Korea (-12.5% per year).

Import Prices by Country

In 2021, the average hot-rolled bearing steel bar import price amounted to $X per ton, with an increase of 20% against the previous year. In general, the import price, however, showed a mild shrinkage. The growth pace was the most rapid in 2018 an increase of 26%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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