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Turkey - Hot-Rolled Bars In Bearing Steels - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Hot-Rolled Bearing Steel Bar in Turkey - 2023
Contents:
- Price for Hot-Rolled Bearing Steel Bar in Turkey (FOB) - 2023
- Price for Hot-Rolled Bearing Steel Bar in Turkey (CIF) - 2023
- Exports of Hot-Rolled Bearing Steel Bar in Turkey
- Imports of Hot-Rolled Bearing Steel Bar in Turkey
Price for Hot-Rolled Bearing Steel Bar in Turkey (FOB) - 2023
In July 2023, the average hot-rolled bearing steel bar export price amounted to $1,477 per ton, reducing by -4.4% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.7%. The most prominent rate of growth was recorded in October 2022 an increase of 45% m-o-m. Over the period under review, the average export prices hit record highs at $1,545 per ton in June 2023, and then shrank in the following month.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($2,073 per ton), while the average price for exports to Lebanon ($659 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Hot-Rolled Bearing Steel Bar in Turkey (CIF) - 2023
In July 2023, the average hot-rolled bearing steel bar import price amounted to $1,047 per ton, approximately reflecting the previous month. Over the period under review, the import price, however, saw a mild decrease. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 8.9% month-to-month. The import price peaked at $1,365 per ton in August 2022; however, from September 2022 to July 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Germany ($1,586 per ton), while the price for Iran ($570 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Germany (+1.7%), while the prices for the other major suppliers experienced a decline.
Exports of Hot-Rolled Bearing Steel Bar in Turkey
In 2022, after three years of growth, there was significant decline in overseas shipments of hot-rolled bars in bearing steels, when their volume decreased by -14.6% to 222K tons. Over the period under review, total exports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +8.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +28.9% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 36%. As a result, the exports attained the peak of 260K tons, and then reduced in the following year.
In value terms, hot-rolled bearing steel bar exports rose notably to $252M in 2022. Overall, exports, however, showed a significant increase. The growth pace was the most rapid in 2021 with an increase of 90% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.
Export of Hot-Rolled Bearing Steel Bar in Turkey (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Germany | 22.3 | 24.6 | 49.2 | 45.3 | 26.6% |
Romania | 3.5 | 4.3 | 17.7 | 36.8 | 119.1% |
United States | 5.8 | 3.7 | 6.0 | 28.2 | 69.4% |
Costa Rica | 17.9 | 14.7 | 48.4 | 24.1 | 10.4% |
Spain | 25.9 | 13.2 | 23.0 | 23.6 | -3.1% |
Tunisia | 4.6 | 5.7 | 15.2 | 13.6 | 43.5% |
Canada | 2.2 | 1.0 | 3.1 | 8.5 | 56.9% |
France | 5.0 | 4.8 | 8.0 | 8.1 | 17.4% |
Bulgaria | 0.5 | 0.5 | 3.6 | 7.6 | 147.7% |
Netherlands | 1.5 | 19.7 | 8.0 | 7.2 | 68.7% |
Serbia | 0.4 | 0.3 | 3.4 | 6.1 | 148.0% |
Brazil | 2.0 | 1.4 | 4.9 | 5.5 | 40.1% |
Lebanon | 3.7 | 2.0 | 0.9 | 4.8 | 9.1% |
Others | 27.2 | 23.8 | 35.8 | 32.5 | 6.1% |
Total | 123 | 120 | 227 | 252 | 27.0% |
Top Export Markets for Hot-Rolled Bearing Steel Bar from Turkey in 2022:
- Romania (43.3K tons)
- Germany (36.1K tons)
- Costa Rica (29.3K tons)
- Spain (18.7K tons)
- United States (14.8K tons)
- Tunisia (11.3K tons)
- Netherlands (8.5K tons)
- France (7.0K tons)
- Bulgaria (6.5K tons)
- Lebanon (6.3K tons)
- Serbia (5.5K tons)
- Canada (4.6K tons)
- Brazil (3.9K tons)
Imports of Hot-Rolled Bearing Steel Bar in Turkey
For the fourth consecutive year, Turkey recorded growth in purchases abroad of hot-rolled bars in bearing steels, which increased by 18% to 168K tons in 2022. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 34% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, hot-rolled bearing steel bar imports skyrocketed to $220M in 2022. Overall, imports recorded a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 75%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.
Import of Hot-Rolled Bearing Steel Bar in Turkey (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 16.6 | 10.9 | 18.6 | 69.7 | 61.3% |
Italy | 8.6 | 17.2 | 22.1 | 43.9 | 72.2% |
Russia | 10.2 | 19.6 | 24.1 | 27.6 | 39.3% |
Japan | 14.4 | 7.7 | 18.5 | 20.9 | 13.2% |
Egypt | 0.5 | 1.6 | 11.1 | 10.7 | 177.6% |
Germany | 2.6 | 5.4 | 9.2 | 8.1 | 46.1% |
Iran | 3.4 | 1.5 | 6.8 | 6.3 | 22.8% |
France | 4.7 | 2.2 | 4.2 | 5.8 | 7.3% |
South Korea | 2.2 | 2.5 | 4.7 | 3.7 | 18.9% |
Romania | 1.3 | 1.9 | 5.8 | 2.4 | 22.7% |
Others | 11.3 | 10.5 | 17.1 | 20.8 | 22.6% |
Total | 75.9 | 81.0 | 142 | 220 | 42.6% |
Top Suppliers of Hot-Rolled Bearing Steel Bar to Turkey in 2022:
- China (51.3K tons)
- Italy (33.9K tons)
- Russia (25.5K tons)
- Japan (15.5K tons)
- Egypt (8.2K tons)
- Iran (6.7K tons)
- Germany (5.5K tons)
- France (4.6K tons)
- South Korea (2.8K tons)
- Romania (1.7K tons)
This report provides an in-depth analysis of the market for hot-rolled bearing steel bar in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24106630 - Hot-rolled bars in bearing steels
Country coverage:
- Turkey
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Turkey
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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