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

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

In 2022, the Saudi market for tube or pipe fittings (of iron or steel) increased by X% to $X, rising for the fourth year in a row after five years of decline. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

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

Exports from Saudi Arabia

In 2022, shipments abroad of tube or pipe fittings (of iron or steel) decreased by X% to X tons, falling for the fifth consecutive year after two years of growth. Overall, exports faced a deep slump. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum 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 rose remarkably to $X in 2022. In general, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Kuwait (X tons), the United Arab Emirates (X tons) and Austria (X tons) were the main destinations of iron or steel tube fitting exports from Saudi Arabia, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Oman ($X) were the largest markets for iron or steel tube fitting exported from Saudi Arabia worldwide, together comprising X% of total exports. Bahrain, Austria and Iraq lagged somewhat behind, together comprising a further X%.

Bahrain, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the average export price for tube or pipe fittings (of iron or steel) amounted to $X per ton, rising by X% against the previous year. In general, the export price saw a strong expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to Kuwait ($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 Iraq (X%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Saudi Arabia

In 2022, approx. X tons of tube or pipe fittings (of iron or steel) were imported into Saudi Arabia; falling by X% compared with the year before. Over the period under review, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, iron or steel tube fitting imports declined to $X in 2022. In general, imports showed a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Italy (X tons) and India (X tons) were the main suppliers of iron or steel tube fitting imports to Saudi Arabia, together accounting for X% of total imports. South Korea, Spain, the United Arab Emirates, Thailand, Romania, the United States, Germany, Turkey, France and Japan lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, 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 suppliers to Saudi Arabia were Italy ($X), China ($X) and the United States ($X), with a combined X% share of total imports. South Korea, Romania, India, Spain, France, Germany, Japan, Thailand, the United Arab Emirates and Turkey lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

In 2022, the average import price for tube or pipe fittings (of iron or steel) amounted to $X per ton, declining by X% against the previous year. Over the period under review, import price indicated a mild increase 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 2016 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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