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

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

In 2022, the Asian market for tube or pipe fittings (of iron or steel) decreased by X% to $X for the first time since 2016, thus ending a five-year rising trend. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then dropped in the following year.

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

In value terms, iron or steel tube fitting production contracted modestly to $X in 2022 estimated in export price. The total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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

Exports in Asia

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. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced 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 stood at a somewhat lower figure.

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% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

In 2022, China (X tons) represented the major exporter of tube or pipe fittings (of iron or steel), committing X% of total exports. India (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (X%). Malaysia (X tons), the United Arab Emirates (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons) followed a long way behind the leaders.

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, the United Arab Emirates (X%), India (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Thailand (X%), Taiwan (Chinese) (X%) and South Korea (X%) illustrated a downward trend over the same period. India (X p.p.) and the United Arab Emirates (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 ($X) remains the largest iron or steel tube fitting supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports. It was followed by India, with a X% share.

In China, iron or steel tube fitting exports increased 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 stood at $X per ton in 2022, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: 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 China (X%), while the other leaders experienced more modest paces of growth.

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

Imports in Asia

After five years of decline, purchases abroad of tube or pipe fittings (of iron or steel) increased by X% to X tons in 2022. Overall, imports, however, saw a slight slump. The growth pace was the most rapid 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 failed to regain momentum.

In value terms, iron or steel tube fitting imports expanded significantly to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The purchases of the twelve major importers of tube or pipe fittings (of iron or steel), namely Japan, Singapore, South Korea, the United Arab Emirates, Malaysia, Saudi Arabia, India, Indonesia, Taiwan (Chinese), Thailand, Pakistan and Turkey, represented more than two-thirds of total import. Hong Kong SAR (X tons) took a little share 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 Turkey (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 were Japan ($X), Saudi Arabia ($X) and South Korea ($X), together comprising X% of total imports. Singapore, the United Arab Emirates, Thailand, India, Taiwan (Chinese), Malaysia, Indonesia, Turkey, Hong Kong SAR and Pakistan lagged somewhat behind, together comprising a further X%.

Taiwan (Chinese), with a CAGR of X%, recorded the highest growth rate of 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 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%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

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 Japan ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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