Which Country Imports the Most Iron Tube Or Pipe Fittings in the World?
Basic Iron And Steel May 28, 2018
Global tube or pipe fitting imports stood at 22M tonnes in 2016, moving up by 5% against the previous year figure. Overall, it indicated a remarkable growth from 2007 to 2016: the total imports volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on the result of 2016, tube or pipe fitting imports increased by +87.9% against its level of 2010. The pace of growth was the most pronounced in 2011, when it surged by 58% from the previous year level. Over the period under review, global tube or pipe fitting imports attained its maximum volume in 2016, and are likely to continue its growth in the near future.
In value terms, tube or pipe fitting imports totaled $17B in 2016. Overall, tube or pipe fitting imports continue to indicate a relatively flat trend pattern. Global tube or pipe fitting import peaked of $21B in 2014; however, from 2015 to 2016, it failed to regain its strength.
Top Tube Or Pipe Fitting Importing Countries in the World
1. USA (1,874.5 million USD)
2. China (666.8 million USD)
3. Egypt (179.0 million USD)
4. Papua New Guinea (10.2 million USD)
Tube Or Pipe Fitting Imports By Country
Egypt (12M tonnes) represented the major importing country with an import of about 12M tonnes, which amounted to 53% of total imports. Papua New Guinea (4.2M tonnes) held a 19% share (based on tonnes) of global tube or pipe fitting imports, which put it in second place, following China (7%). The following importers - the U.S. (624K tonnes) occupied approx. 3% of total imports, each.
Egypt was also the fastest growing in terms of the tube or pipe fitting imports, with a CAGR of +103.4% from 2007 to 2016. At the same time, the U.S. (+2.0%) displayed positive paces of growth. China experienced a relatively flat trend pattern. By contrast, Papua New Guinea (-6.1%) illustrated a downward trend over the same period. From 2007 to 2016, the share of Papua New Guinea increased by 14% percentage points, while Egypt (-53.3%) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the U.S. ($1.9B) constitutes the largest market for imported tube or pipe fitting worldwide, making up 11% of global imports. The second position in the ranking was occupied by China ($667M), with the share of 4% of global imports. It was followed by Egypt, with the share of 1%.
In the U.S., tube or pipe fitting imports stood at an average annual rate of +1.1% over the period from 2007-2016. In the other countries, the average annual rates were as follows: China (+2.5% per year) and Egypt (-4.6% per year).
Tube Or Pipe Fitting Import Prices By Country
In 2016, the average import price for tube or pipe fitting amounted to $746 per tonne, descending by -14.1% against the previous year. Overall, tube or pipe fitting import price continues to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2008, when it surged by 21% from the previous year level. In that year, average tube or pipe fitting import price reached its maximum level of $1,559 per tonne. From 2009 to 2016, growth of average tube or pipe fitting import price stood at a somewhat lower level.
There were significant differences in the average import prices amongst major importing countries. In 2016, the country with the highest import prices was the U.S. ($3,002 per tonne), while Papua New Guinea ($2 per tonne) was among the lowest.
From 2007 to 2016, the most notable growth rate of tube or pipe fitting import prices was attained by Papua New Guinea (+8.0% per year), while the other global leaders experienced mixed trends in the import price figures.
Do you want to know more about 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
All data provided in this article covers the following product: HS Code 7307 - Tube or pipe fittings (e.g. couplings, elbows, sleeves), of iron or steel.
Source: World: Tube Or Pipe Fittings (Of Iron Or Steel) - Market Report. Analysis and Forecast to 2025
