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

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

The Myanmar's market for tube or pipe fittings (of iron or steel) skyrocketed to $X in 2022, with an increase of X% against the previous year. Overall, consumption, however, continues to indicate a perceptible decline. Iron or steel tube fitting consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

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

In value terms, iron or steel tube fitting production expanded rapidly to $X in 2022 estimated in export price. Overall, production, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. Iron or steel tube fitting production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

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

Exports from Myanmar

Iron or steel tube fitting exports from Myanmar fell remarkably to X tons in 2022, with a decrease of X% on the previous year's figure. In general, exports showed a sharp contraction. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron or steel tube fitting exports reduced remarkably to $X in 2022. Over the period under review, exports showed a sharp slump. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

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

From 2017 to 2022, the average annual growth rate of volume to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Thailand (X% per year).

In value terms, Japan ($X), Thailand ($X) and Canada ($X) appeared to be the largest markets for iron or steel tube fitting exported from Myanmar worldwide, together comprising X% of total exports.

Thailand, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export 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 export price, however, saw a strong expansion. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2017 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 Myanmar

In 2022, overseas purchases of tube or pipe fittings (of iron or steel) were finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. In general, imports, however, showed a mild setback. 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 attained the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, iron or steel tube fitting imports soared to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest iron or steel tube fitting supplier to Myanmar, 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), threefold. Thailand (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, South Korea ($X), China ($X) and Thailand ($X) were the largest iron or steel tube fitting suppliers to Myanmar, with a combined X% share of total imports.

South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for tube or pipe fittings (of iron or steel) stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price, however, saw a moderate expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 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 South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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