Asia-Pacific: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2024

Market Size for Tube Or Pipe Fittings (Of Iron Or Steel) in Asia-Pacific

After two years of growth, the Asia-Pacific market for tube or pipe fittings (of iron or steel) decreased by X% to $X in 2022. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021, and then fell in the following year.

Production of Tube Or Pipe Fittings (Of Iron Or Steel) in Asia-Pacific

In value terms, iron or steel tube fitting production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Tube Or Pipe Fittings (Of Iron Or Steel)

Exports in Asia-Pacific

In 2022, overseas shipments of tube or pipe fittings (of iron or steel) increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, iron or steel tube fitting exports soared to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

In 2022, China (X tons) was the main exporter of tube or pipe fittings (of iron or steel), making up X% of total exports. India (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (X%). The following exporters - Malaysia (X tons), Taiwan (Chinese) (X tons), Thailand (X tons) and Singapore (X tons) - together made up X% of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of tube or pipe fittings (of iron or steel). At the same time, India (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Thailand (X%), Taiwan (Chinese) (X%), South Korea (X%) and Singapore (X%) illustrated a downward trend over the same period. India (X p.p.) significantly strengthened its position in terms of the total exports, while South Korea saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest iron or steel tube fitting supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with an X% share of total exports. It was followed by India, with a X% share.

In China, iron or steel tube fitting exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (X% per year) and India (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Imports of Tube Or Pipe Fittings (Of Iron Or Steel)

Imports in Asia-Pacific

In 2022, supplies from abroad of tube or pipe fittings (of iron or steel) increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, iron or steel tube fitting imports rose significantly to $X in 2022. Overall, imports continue to indicate a modest expansion. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

The purchases of the twelve major importers of tube or pipe fittings (of iron or steel), namely Japan, Singapore, South Korea, Malaysia, India, Indonesia, Taiwan (Chinese), Thailand, Pakistan, Australia, Hong Kong SAR and China, represented more than two-thirds of total import.

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

In value terms, the largest iron or steel tube fitting importing markets in Asia-Pacific were China ($X), Japan ($X) and South Korea ($X), with a combined X% share of total imports. Singapore, Thailand, Australia, India, Taiwan (Chinese), Malaysia, Indonesia, Hong Kong SAR and Pakistan lagged somewhat behind, together comprising a further X%.

Taiwan (Chinese), with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the import price increased by X%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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