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Article Publishing Date: Sep 28, 2018

U.S. Fabricated Pipe And Pipe Fitting Market - Upturns In the Industrial Manufacturing And Oil Drilling to Promote the Consumption Growth

IndexBox has just published a new report "U.S. Fabricated Pipe And Pipe Fitting Market. Analysis And Forecast to 2025". Here is a summary of the report’s key findings

The Fabricated Pipe and Fitting Market Bounced Back in the Last Year

In 2017, the U.S. fabricated pipe and pipe fittings market stood at $X. Despite attempts at a recovery after a significant period of decline, seen from 2009-2010, the market shrank again in 2015, slumping to a deeper decline in 2016, largely as a result of the reduced demand from the oil and gas industry. In 2017, the rise in oil prices stimulated an increase in the consumption of fabricated pipes and pipe fittings with an X% growth (IndexBox estimates), but market performance figures still remain significantly lower than those recorded pre-crisis. 

The Market of Fabricated Pipes and Pipe Fittings Is Set to Continue a Moderate Increase

Fabricated pipes and pipe fittings constitute products from steel or non-ferrous metal pipes which are moulded and interconnected into pipe systems for a specific purpose, in both industrial equipment and engineering networks.

Given the limited use of steel and non-ferrous pipe systems in construction, the key impetus for the market growth shall come from the industrial sector, where the consumption of steel pipe systems remains vital. In particular, the improved situation in the oil and gas drilling sector should also make a positive impact.

Given that the main stimulus for the growth of the fabricated pipe and pipe fittings market will be the growth of various industries, the market forecast will generally be determined by GDP trend patterns. According to the World Bank, the U.S. economy is expected to experience robust growth in terms of GDP by approx. X% in the medium term. The U.S. economy is currently improving, as manufacturing in the U.S. is continuing to experience a recovery, with an accelerating pace of capital equipment spending acting as the main catalyst overall.

The increasingly aggressive protectionist trade policies, particularly those in force between the U.S. and China, currently present a significant risk to the fabricated pipe and pipe fittings market. These policies may restrict U.S. private consumption growth: the higher customs taxes would mean that imported Chinese goods to the U.S. would become markedly more expensive, thereby impacting on consumption. Equally, the current measures against China were introduced in a bid to strengthen and develop U.S. domestic industry. As a result, this may stimulate demand for industrial products, including fabricated pipes and fittings, should demand figures remain unaffected by the potential slowing in private consumption growth.

Taking into account all the above-mentioned factors, it is expected that the moderate upward trend with regard to fabricated pipe and fittings consumption, initially observed in 2017, shall continue in the medium term. Driven by strong economy growth, market performance is forecast to increase further, 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 (in constant prices of 2017) by the end of 2025.

Fabricated Pipe and Fitting Production in the U.S. Improved Slightly

The value of shipments in the U.S. fabricated pipe and pipe fittings manufacturing sector amounted to $X in 2017, increasing by X% against the previous year. The value of shipments contracted sharply over the 2015-2016 period due to the suspension of various oil projects, against the slump in oil prices; the fall in steel prices was also a factor. In 2017, the volume of production saw a slight recovery against improved oil production figures, industrial manufacturing and economic growth, which continue to promote enhanced demand for fabricated pipes and pipe fittings.

The Market Remains Completely Unreliant on Imports 

Imports occupied only X% of U.S. consumption in 2017, increasing slightly (by +X percentage points) from the outset level. Due to a low trade intensity, imports should not be regarded as a strong factor to influence the market dynamics in the medium term.

Canada Appears as the Major Destination for U.S. Exports of Fabricated Pipes and Pipe Fittings

The U.S. exported $X of fabricated pipes and pipe fittings in 2017, which was equal to X tonnes. In value terms, exports experienced a consistent growth, with only mild fluctuations, increasing by an average of +X% per year over the last ten years. Equally, in physical terms, the volume of exports declined in 2013. Export figures then stabilized briefly, but continued to decline further from 2015-2016. The volume of exports increased slightly in 2017. 

In 2017, the main destination for U.S. fabricated pipe and pipe fittings exports was Canada (X tonnes), consuming X% of U.S. exports. Mexico (X tonnes) assumed second position in the ranking, with a share of X%. They were followed, somewhat lagging behind, by China, the UK, Saudi Arabia, Russia and Korea. Each of these countries assumed a share in the total volume of exports of not more than X%. 

Canada increased its imports into the U.S. by an average +X% per year. However, the fastest growing supplier was Russia (+X%), followed by China (+X%).

The share exported to Canada (+X percentage points), Mexico, China and Russia (+X percentage points, each), increased, while the share sent to the UK illustrated a negative dynamic (-X percentage points). The shares of the other countries remained relatively stable throughout the analyzed period.  

China Supplied X% of the U.S. Fabricated Pipe and Pipe Fttings Imports

The value of total U.S. fabricated pipe and pipe fittings imports totaled $X in 2017, surging by X% over the last year. In physical terms, imports amounted to X tonnes, expanding over the last five years. 

Exports into China amounted to X tonnes or X% (based on tonnes) of U.S. imports in 2017. Mexico (X%), Korea (X%), Canada (X%), India (X%), Taiwan (X%) and Germany (X%) were the other main suppliers of fabricated pipe and pipe fittings into the U.S. India (+X% per year) was the fastest growing supplier from 2007 to 2017. Korea (+X%), China (+X%) and Mexico (+X%) indicated more moderate paces of growth, while Germany (-X%), Canada (-X%) and Taiwan (-X%) recorded a negative dynamic trend over the last ten years. 

China (+X percentage points) and India (+X percentage points) strengthened their position in U.S. imports from 2007 to 2017. By contrast, Canada (-X percentage points) and Taiwan (-X percentage points) saw their shares reduced.

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

  • fabricated pipe and fitting market share
  • fabricated pipe and fitting prices
  • fabricated pipe and fitting industry
  • fabricated pipe and fitting sales
  • fabricated pipe and fitting import
  • fabricated pipe and fitting export
  • fabricated pipe and fitting market forecast
  • fabricated pipe and fitting price forecast
  • key fabricated pipe and fitting producers

Source: IndexBox AI Platform

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
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
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. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2013–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2013–2019
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

LIST OF TABLES
Table 1:
Key Findings In 2019
Table 2:
Market Volume, In Physical Terms, 2013–2019
Table 3:
Market Value, 2013–2019
Table 4:
Per Capita Consumption In 2013-2019
Table 5:
Imports, In Physical Terms, By Country, 2013–2019
Table 6:
Imports, In Value Terms, By Country, 2013–2019
Table 7:
Import Prices, By Country Of Origin, 2013–2019
Table 8:
Exports, In Physical Terms, By Country, 2013–2019
Table 9:
Exports, In Value Terms, By Country, 2013–2019
Table 10:
Export Prices, By Country Of Destination, 2013–2019
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2013–2019
Figure 2:
Market Value, 2013–2019
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2013-2019
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2013-2019
Figure 5:
Trade Balance, In Physical Terms, 2013-2019
Figure 6:
Trade Balance, In Value Terms, 2013-2019
Figure 7:
Per Capita Consumption, 2013-2019
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2013–2019
Figure 21:
Production, In Value Terms, 2013–2019
Figure 22:
Imports, In Physical Terms, 2013–2019
Figure 23:
Imports, In Value Terms, 2013–2019
Figure 24:
Imports, In Physical Terms, By Country, 2019
Figure 25:
Imports, In Physical Terms, By Country, 2013–2019
Figure 26:
Imports, In Value Terms, By Country, 2013–2019
Figure 27:
Import Prices, By Country Of Origin, 2013–2019
Figure 28:
Exports, In Physical Terms, 2013–2019
Figure 29:
Exports, In Value Terms, 2013–2019
Figure 30:
Exports, In Physical Terms, By Country, 2019
Figure 31:
Exports, In Physical Terms, By Country, 2013–2019
Figure 32:
Exports, In Value Terms, By Country, 2013–2019
Figure 33:
Export Prices, By Country Of Destination, 2013–2019

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