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

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

In 2022, the Vietnamese market for tube or pipe fittings (of iron or steel) decreased by X% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption showed a noticeable curtailment. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

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

In value terms, iron or steel tube fitting production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production, however, saw a pronounced downturn. The pace of growth appeared the most rapid in 2020 with an increase of X%. Iron or steel tube fitting production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

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

Exports from Vietnam

In 2022, the amount of tube or pipe fittings (of iron or steel) exported from Vietnam surged to X tons, with an increase of X% compared with 2021. In general, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs 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. Overall, exports posted resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Japan (X tons) and South Korea (X tons) were the main destinations of iron or steel tube fitting exports from Vietnam, with a combined X% share of total exports. Taiwan (Chinese), Italy, China, Spain, Canada, Germany and the UK lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron or steel tube fitting exported from Vietnam were the United States ($X), Japan ($X) and China ($X), with a combined X% share of total exports. Taiwan (Chinese), South Korea, Italy, Spain, Canada, Germany and the UK lagged somewhat behind, together comprising a further X%.

Italy, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

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 2020 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a 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 China ($X per ton), while the average price for exports to Germany ($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 China (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 Vietnam

In 2022, supplies from abroad of tube or pipe fittings (of iron or steel) decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, total imports indicated a perceptible 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, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, iron or steel tube fitting imports reduced slightly to $X in 2022. Overall, total imports indicated perceptible growth 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, imports decreased by X% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of iron or steel tube fitting to Vietnam, 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), fourfold. The third position in this ranking was taken by Japan (X tons), with an X% share.

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

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

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

Import Prices by Country

In 2022, the average import price for tube or pipe fittings (of iron or steel) amounted to $X per ton, surging by X% against the previous year. In general, the import price continues to indicate a slight increase. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in the near future.

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

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

Source: IndexBox Platform

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