Sep 20, 2018

World - Tube Or Pipe Fittings (Of Iron Or Steel) - Market Analysis, Forecast, Size, Trends and Insights

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Global Steel Pipe Fitting Market – U.S. Demands More Imports

IndexBox has just published a new report "World - Tube Or Pipe Fittings (Of Iron Or Steel) - Market Analysis, Forecast, Size, Trends and Insights". Here is a summary of the report’s key findings.

Global Steel Tube Fittings Consumption Declined for the Third Consecutive Year

 In 2017, the volume of the global steel tube fittings consumption stood at approx. X tonnes (IndexBox estimates). After a noticeable contraction in 2009, the volume of consumption recovered over the next three years and then levelled of through to 2014. From 2015-2017, the market volume has been declining steadily due to an overall slowdown of the global economy, a slump in oil drilling projects hampered by low oil prices and decreased use of steel tubes in construction industry in favor of plastic tubes.

In value terms, the global steel tube fittings market stood at $X in 2017, which was relatively unchanged against the previous year. From 2015-2016, the market value declined sharply and then flattened, given a downward trend pattern of the volume of imports and a long-term gradual decline in prices. Global average prices for steel tube fittings have been declining gradually from 2015, reflecting the decreasing steel prices, but bounced back slightly in 2017, which could be a sign of market stabilization.

China, the U.S. and Germany Remain Top Steel Tube Fittings Consumers Worldwide

China (X tonnes), the U.S. (X tonnes) and Germany (X tonnes) constitute major consuming countries, accounting for X% of the global figure. They were followed by Russia, Canada, Pakistan, the UK, Turkey, Japan, the United Arab Emirates, Kuwait and France, which together comprised a further X%. Moreover, China also remain the largest producer of steel tube fittings.

Global Steel Pipe Fitting Market is Set to Grow Moderately

Steel pipe fittings are complementary products for steel pipes since they connect pipes in both engineering networks and industrial equipment. Therefore, in the medium term, the growth of the world economy and population growth, as well as rapid urbanization in Asian countries will remain the main factors of market growth. These factors promote the development of a number of industries, such as the food and beverage industry, the chemical and petrochemical industry etc., which leads to increased consumption of technological systems and equipment, as well as engineering systems of buildings and structures including steel pipes and fittings.

Despite the trend to reduce the consumption of steel pipes in construction in favor of plastic pipes, the growth in demand for pipes from the industry will be the main contributor to the growth of the market. Steel pipes have no alternative in many industries requiring handling with aggressive and dangerous fluids and gases. Considering all of the above, the forecasted market volume will be determined by the growth dynamics of the world economy in general.

According to the IMF forecast, the growth of the world economy will be about X% in the medium term. The critical impetus for growth is to come from emerging Asian countries, where the industry will develop against the backdrop of the rapid development of the economy and the increase in the income of the population, which create a stable base for the growth of consumption of various goods. Besides, resumed growth of oil production in the United States will also contribute to the growth. 

Driven by the global economy growth, the performance of the market is forecast to accelerate, expanding with an anticipated CAGR of +X% for the eight-year period from 2017 to 2025, which is projected to bring the market volume to X tonnes by the end of 2025.

About X% of the Steel Fittings Products in the World are Exported

A high intensity of trade characterizes pipe or pipe fittings exports market as about X% of the world output is exported. Most of the exports come from China, with the country being the global leader in the production of steel and steel products having low export prices, which makes the Chinese products competitive on the market.

China and India are the Best Options for Sourcing Steel Tube Fittings

The global production leadership still belongs to China; moreover, it has been increasingly robust over the recent years. On the other hand, Italy, the U.S., India and Germany are the largest if only considering those that decline in production volumes. 

Furthermore, the largest and growing exporting countries are China, India, and Italy. Among them, China and India had the lowest export prices, which is why they are expected to be the most attractive exporters of steel tube fittings. Nevertheless, the choice of the most promising country also depends on the specific type and purpose of the fittings – Germany and the United States export the most expensive products, but they are designed for high-tech applications, whereas China massively exports cheap fittings for a more general use.

European Countries, Japan and the U.S. are the Most Promising Overseas Markets for Steel Tube Fittings Exports

The largest consumers are China and the U.S., but in China, the market is buoyed by domestic production; moreover, China remains the leading exporter. The U.S.  remains the largest importer: despite the market volume there is decreasing, the volume of imports is on the rise. This indicates high dependency of the U.S. market on imports and its attractivity for foreign suppliers.

 

Besides the U.S., large European countries (Italy, France, Germany), as well as Japan, also demand for tangible imports, and the import prices are relatively high. Therefore, those countries also constitute promising markets for steel fitting suppliers.

China Supplied X% of Global Tube or Pipe Fittings Exports

In 2017, the volume of global exports totaled X tonnes, with a mixed trend pattern over the last few years. A pronounced decline over the period from 2007 to 2009 was followed by recovery over the next five years; however, it turned downward again in 2015, levelling off through to 2017. In value terms, exports amounted to $X in 2017, bouncing back by X% over the last year, after a decline over the previous two years. 

China (X tonnes) was the main global supplier of tube or pipe fittings (of iron or steel) with a share of X% of global exports. It was distantly followed by Italy (X tonnes), India (X tonnes), Korea (X tonnes), Germany (X tonnes), the U.S. (X tonnes), and Saudi Arabia (X tonnes), comprising X% of global exports.

From 2007 to 2017, exports from China grew by an average +X% per year, however, the fastest growing suppliers among the major exporters was Saudi Arabia (+X% per year). The other countries experienced more modest or even negative paces of growth. While the shares of China (+X percentage points), India (+X percentage points) and Saudi Arabia (+X percentage points) increased, the share of Korea showed negative dynamics. The shares of the other countries remained relatively stable over the period under review.

The U.S. Remains the Largest Global Importer of Tube or Pipe Fittings

The volume of global imports totaled X tonnes or $X in 2017. Imports trend pattern generally mirrored that of exports: these trade flows globally complement each other. 

In 2017, the U.S. (X tonnes) constituted the leading destination of tube or pipe fittings (of iron or steel) imports, comprising X% of global imports. Imports into the U.S. expanded with a CAGR of +X% per year over the last ten years. It was followed by Canada (X tonnes), Germany (X tonnes), Saudi Arabia (X tonnes), Japan (X tonnes), Pakistan (X tonnes) and Korea (X tonnes), making up X% of global imports.

Amongst the major importing countries, Pakistan (+X% per year) gained the highest annual growth rates from 2007 to 2017. The other countries experienced more modest or even negative paces of growth. While the shares of the U.S. (+X percentage points), and Pakistan (+X percentage points) increased, the shares of the other countries remained relatively stable over the period under review.

Do you want to know more about the global tube or pipe fitting market? Get the latest trends and insight from our report. It includes a wide range of statistics on

  • tube or pipe fitting market share
  • tube or pipe fitting prices
  • tube or pipe fitting industry
  • tube or pipe fitting sales
  • tube or pipe fitting import
  • tube or pipe fitting export
  • tube or pipe fitting market forecast
  • tube or pipe fitting price forecast
  • key tube or pipe fitting producers

Source: IndexBox AI Platform

Product coverage:
• Prodcom 24204010 - Flanges, of steel (excluding cast fittings)
• Prodcom 24204030 - Elbows, bends, couplings, sleeves and other threaded tube or pipe fittings, of steel (excluding cast fittings)
• Prodcom 24204050 - Elbows, bends, couplings and sleeves and other socket welding tube or pipe fittings, of steel (excluding cast fittings)
• Prodcom 24204073 - Butt welding elbows and bends, for tubes or pipes, of steel (excluding cast fittings)
• Prodcom 24204075 - Butt welding tube or pipe fittings, other than elbows and bends, of steel (excluding cast fittings)
• Prodcom 24513030 - Tube or pipe fittings, of non-malleable cast iron
• Prodcom 24513050 - Tube or pipe fittings of malleable cast iron
• Prodcom 24523000 - Tube or pipe fittings of cast steel

This report provides an in-depth analysis of the global market for tube or pipe fitting. 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 2025.



Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in World, split by region and country
• Trade (exports and imports) in World
• 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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2025
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2018
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2018
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

United States
China
Japan
Germany
United Kingdom
France
Brazil
Italy
Russian Federation
India
Canada
Australia
Republic of Korea
Spain
Mexico
Indonesia
Netherlands
Turkey
Saudi Arabia
Switzerland
Sweden
Nigeria
Poland
Belgium
Argentina
Norway
Austria
Thailand
United Arab Emirates
Colombia
Denmark
South Africa
Malaysia
Israel
Singapore
Egypt
Philippines
Finland
Chile
Ireland
Pakistan
Greece
Portugal
Kazakhstan
Algeria
Czech Republic
Qatar
Peru
Romania
Vietnam
LIST OF TABLES
Table 1:
Key Findings In 2018
Table 2:
Market Volume, In Physical Terms, 2007–2018
Table 3:
Market Value, 2007–2018
Table 4:
Per Capita Consumption, By Country, 2015–2018
Table 5:
Production, In Physical Terms, By Country, 2007–2018
Table 6:
Imports, In Physical Terms, By Country, 2007–2018
Table 7:
Imports, In Value Terms, By Country, 2007–2018
Table 8:
Import Prices, By Country Of Destination, 2007–2018
Table 9:
Exports, In Physical Terms, By Country, 2007–2018
Table 10:
Exports, In Value Terms, By Country, 2007–2018
Table 11:
Export Prices, By Country Of Origin, 2007–2018
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2018
Figure 2:
Market Value, 2007–2018
Figure 3:
Consumption, By Country, 2018
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2007–2018
Figure 17:
Production, In Value Terms, 2007–2018
Figure 18:
Production, By Country, 2018
Figure 19:
Production, In Physical Terms, By Country, 2007–2018
Figure 20:
Imports, In Physical Terms, 2007–2018
Figure 21:
Imports, In Value Terms, 2007–2018
Figure 22:
Imports, In Physical Terms, By Country, 2018
Figure 23:
Imports, In Physical Terms, By Country, 2007–2018
Figure 24:
Imports, In Value Terms, By Country, 2007–2018
Figure 25:
Import Prices, By Country, 2007–2018
Figure 26:
Exports, In Physical Terms, 2007–2018
Figure 27:
Exports, In Value Terms, 2007–2018
Figure 28:
Exports, In Physical Terms, By Country, 2018
Figure 29:
Exports, In Physical Terms, By Country, 2007–2018
Figure 30:
Exports, In Value Terms, By Country, 2007–2018
Figure 31:
Export Prices, 2007–2018
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