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

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

In 2022, the Indian market for tube or pipe fittings (of iron or steel) decreased by X% to $X, falling for the third consecutive year after eight years of growth. 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. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, iron or steel tube fitting production fell 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 indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. 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 India

In 2022, shipments 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. Overall, total exports indicated a notable expansion from 2012 to 2022: its volume 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, iron or steel tube fitting exports skyrocketed to $X in 2022. Over the period under review, total exports indicated a strong increase 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady 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 India, accounting for 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, Canada (X tons), more than tenfold. The United Arab Emirates (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and the United Arab Emirates (X% per year).

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

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

Export Prices by Country

The average export price for tube or pipe fittings (of iron or steel) stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2019 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Nepal ($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 Nepal (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 India

Iron or steel tube fitting imports into India skyrocketed to X tons in 2022, rising by X% compared with the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, iron or steel tube fitting imports amounted 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 most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of iron or steel tube fitting to India, accounting for a X% share of total imports. Moreover, iron or steel tube fitting imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. The third position in this ranking was taken by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and the United States (X% per year).

In value terms, China ($X) constituted the largest supplier of tube or pipe fittings (of iron or steel) to India, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by South Korea, with an X% share.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and South Korea (X% per year).

Import Prices by Country

The average import price for tube or pipe fittings (of iron or steel) stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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