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

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

In 2022, after two years of growth, there was decline in the Chinese market for tube or pipe fittings (of iron or steel), when its value decreased by X% to $X. Over the period under review, consumption, however, saw a prominent expansion. Over the period under review, the market hit record highs at $X in 2021, and then reduced modestly in the following year.

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

In value terms, iron or steel tube fitting production shrank slightly 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 consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

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

Exports from China

In 2022, shipments abroad of tube or pipe fittings (of iron or steel) increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, 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 attained the maximum 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 skyrocketed 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 throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

The United States (X tons) was the main destination for iron or steel tube fitting exports from China, with a X% share of total exports. Moreover, iron or steel tube fitting exports to the United States exceeded the volume sent to the second major destination, South Korea (X tons), twofold. The third position in this ranking was taken by Japan (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Japan (X% per year).

In value terms, the United States ($X) remains the key foreign market for tube or pipe fittings (of iron or steel) exports from China, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the average export price for tube or pipe fittings (of iron or steel) amounted to $X per ton, picking up by 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 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into China

In 2022, approx. X tons of tube or pipe fittings (of iron or steel) were imported into China; declining by X% on the previous year's figure. Overall, imports showed a slight descent. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, iron or steel tube fitting imports contracted to $X in 2022. The total import 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 pace of growth was the most pronounced in 2018 with an increase of X%. Imports peaked at $X in 2021, and then dropped modestly in the following year.

Imports by Country

South Korea (X tons), Japan (X tons) and Italy (X tons) were the main suppliers of iron or steel tube fitting imports to China, with a combined X% share of total imports. Germany, the United States, Austria, Taiwan (Chinese), Thailand, France, Vietnam, the UK and the Netherlands lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel tube fitting suppliers to China were the United States ($X), Japan ($X) and Germany ($X), with a combined X% share of total imports. South Korea, Italy, Taiwan (Chinese), Austria, the UK, Vietnam, France, Thailand and the Netherlands lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Vietnam, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for tube or pipe fittings (of iron or steel) stood at $X per ton in 2022, rising by X% against the previous year. Overall, import price indicated notable growth from 2012 to 2022: its price 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, iron or steel tube fitting import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X%. The import price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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