Mill Rolling Roll Market

The article discusses the forecasted trends in the global market for mill rolling rolls, with an expected increase in market volume and value from 2022 to 2030. Consumption, production, imports, and exports trends are analyzed for major countries such as China, the United States, and Brazil. The data shows fluctuations in consumption, production, import prices, and export prices over the years, highlighting significant growth rates for some countries. China dominates both production and exports of mill rolling rolls, while the United States, India, and Germany are also key players in the market.

Market Forecast

Driven by rising demand for mill rolling roll worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.1% for the period from 2022 to 2030, which is projected to bring the market volume to 796K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market value to $4.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Rolls For Rolling Mills

In 2022, the amount of rolls for rolling mills consumed worldwide reduced to 729K units, with a decrease of -12.3% on the previous year's figure. Over the period under review, consumption continues to indicate a abrupt decrease. Over the period under review, global consumption attained the maximum volume at 1.3M units in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

The global mill rolling roll market value dropped to $3.5B in 2022, declining by -10.3% 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). Overall, consumption showed a abrupt decline. The growth pace was the most rapid in 2021 when the market value increased by 6%. Over the period under review, the global market hit record highs at $7.4B in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (86K units), the United States (81K units) and Brazil (41K units), with a combined 29% share of global consumption. South Africa, South Korea, Turkey, Thailand, Japan, India, Russia, Pakistan, Germany and the UK lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Turkey (with a CAGR of +7.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($452M), Japan ($448M) and China ($273M) constituted the countries with the highest levels of market value in 2022, together accounting for 33% of the global market. Germany, Russia, India, South Korea, Turkey, Brazil, South Africa, the UK, Thailand and Pakistan lagged somewhat behind, together accounting for a further 28%.

In terms of the main consuming countries, Turkey, with a CAGR of +5.2%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of mill rolling roll per capita consumption in 2022 were South Korea (715 units per million persons), South Africa (661 units per million persons) and Thailand (483 units per million persons).

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +5.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Rolls For Rolling Mills

In 2022, approx. 683K units of rolls for rolling mills were produced worldwide; which is down by -12.5% compared with 2021. Overall, production recorded a slight contraction. The most prominent rate of growth was recorded in 2021 with an increase of 31%. Global production peaked at 861K units in 2014; however, from 2015 to 2022, production remained at a lower figure.

In value terms, mill rolling roll production dropped to $4B in 2022 estimated in export price. In general, production recorded a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 20% against the previous year. Global production peaked at $8.3B in 2014; however, from 2015 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of mill rolling roll production was China (417K units), accounting for 61% of total volume. Moreover, mill rolling roll production in China exceeded the figures recorded by the second-largest producer, Japan (35K units), more than tenfold. The United States (29K units) ranked third in terms of total production with a 4.3% share.

In China, mill rolling roll production increased at an average annual rate of +4.1% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Japan (-6.2% per year) and the United States (-8.8% per year).

Imports

World Imports of Rolls For Rolling Mills

In 2022, the amount of rolls for rolling mills imported worldwide rose sharply to 572K units, surging by 11% against the previous year's figure. Overall, imports, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2018 with an increase of 21% against the previous year. Over the period under review, global imports attained the maximum at 754K units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, mill rolling roll imports totaled $1.8B in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 17%. Over the period under review, global imports attained the maximum at $2B in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports By Country

The countries with the highest levels of mill rolling roll imports in 2022 were the United States (57K units), South Africa (54K units), Brazil (44K units), South Korea (42K units), Thailand (41K units), India (37K units) and Turkey (37K units), together recording 55% of total import. The following importers - Taiwan (Chinese) (18K units), Canada (17K units), Russia (16K units), Vietnam (15K units), Indonesia (14K units) and China (14K units) - together made up 16% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by India (with a CAGR of +13.7%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest mill rolling roll importing markets worldwide were the United States ($269M), India ($139M) and Russia ($102M), together accounting for 28% of global imports. Turkey, South Korea, Taiwan (Chinese), China, Canada, Indonesia, Vietnam, Thailand, Brazil and South Africa lagged somewhat behind, together comprising a further 28%.

In terms of the main importing countries, Vietnam, with a CAGR of +12.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average mill rolling roll import price stood at $3,179 per unit in 2022, declining by -7.1% against the previous year. In general, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mill rolling roll import price decreased by -22.7% against 2016 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 40% against the previous year. Over the period under review, average import prices hit record highs at $4,525 per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Russia ($6,423 per unit), while South Africa ($350 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+0.9%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Rolls For Rolling Mills

In 2022, shipments abroad of rolls for rolling mills increased by 13% to 527K units, rising for the second year in a row after two years of decline. Overall, exports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2018 with an increase of 109% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, mill rolling roll exports totaled $1.9B in 2022. In general, exports, however, showed a slight slump. The growth pace was the most rapid in 2018 when exports increased by 17% against the previous year. The global exports peaked at $2.1B in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports By Country

China dominates exports structure, amounting to 345K units, which was near 65% of total exports in 2022. It was distantly followed by India (40K units), creating a 7.5% share of total exports. The following exporters - Germany (16K units), South Africa (14K units), Austria (11K units) and Japan (9.4K units) - together made up 9.6% of total exports.

China was also the fastest-growing in terms of the rolls for rolling mills exports, with a CAGR of +10.1% from 2012 to 2022. At the same time, Austria (+8.8%), India (+8.1%) and South Africa (+5.8%) displayed positive paces of growth. Germany experienced a relatively flat trend pattern. By contrast, Japan (-7.1%) illustrated a downward trend over the same period. While the share of China (+20 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Germany (-2.3 p.p.) and Japan (-5.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($529M) remains the largest mill rolling roll supplier worldwide, comprising 28% of global exports. The second position in the ranking was taken by Germany ($192M), with a 10% share of global exports. It was followed by Japan, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +7.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (-2.3% per year) and Japan (-5.9% per year).

Export Prices By Country

In 2022, the average mill rolling roll export price amounted to $3,542 per unit, declining by -8.2% against the previous year. In general, the export price recorded a deep downturn. The pace of growth appeared the most rapid in 2015 when the average export price increased by 60%. The global export price peaked at $9,948 per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($17,773 per unit), while India ($894 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.4%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform