Overview of the Global Market for Tube Or Pipe Fittings (Of Iron Or Steel)

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

In 2022, the global market for tube or pipe fittings (of iron or steel) increased by less than X% to $X, rising for the second consecutive year after two years of decline. 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 global market hit record highs in 2022 and is expected to retain growth in years to come.

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

In value terms, iron or steel tube fitting production dropped 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 throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2022, global production growth failed to regain momentum.

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

Exports

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. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the global exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports remained at a 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 in certain years. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

China represented the key exporter of tube or pipe fittings (of iron or steel) in the world, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. India (X tons) took the second position in the ranking, followed by Italy (X tons). All these countries together took near X% share of total exports. South Korea (X tons), Germany (X tons), Poland (X tons), the United States (X tons), Malaysia (X tons), Spain (X tons), the United Arab Emirates (X tons), the Netherlands (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of tube or pipe fittings (of iron or steel). At the same time, the United Arab Emirates (X%), Poland (X%), India (X%), Malaysia (X%) and the Netherlands (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. Spain experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (X%), Germany (X%), Italy (X%), the United States (X%) and South Korea (X%) illustrated a downward trend over the same period. While the share of India (X p.p.) and Poland (X p.p.) increased significantly in terms of the global exports from 2012-2022, the share of the United States (X p.p.), Italy (X p.p.) and South Korea (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest iron or steel tube fitting supplier worldwide, comprising X% of global exports. The second position in the ranking was taken by Italy ($X), with an X% share of global exports. It was followed by the United States, with an X% share.

In China, iron or steel tube fitting exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (X% per year) and the United States (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, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in years to come.

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

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

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

Imports

In 2022, supplies from abroad of tube or pipe fittings (of iron or steel) increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, imports recorded a relatively flat trend pattern. Over the period under review, global imports hit record highs at X tons in 2014; afterwards, it flattened through to 2022.

In value terms, iron or steel tube fitting imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons), distantly followed by Canada (X tons) and Germany (X tons) represented the main importers of tube or pipe fittings (of iron or steel), together making up X% of total imports. Japan (X tons), Singapore (X tons), South Korea (X tons), the United Arab Emirates (X tons), Italy (X tons), France (X tons), Mexico (X tons), the UK (X tons), Malaysia (X tons) and the Netherlands (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to iron or steel tube fitting imports into the United States stood at X%. At the same time, Mexico (X%), the Netherlands (X%) and Canada (X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. France, Italy, Germany, Malaysia and the UK experienced a relatively flat trend pattern. By contrast, Japan (X%), Singapore (X%), South Korea (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. The United States (X p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X), Germany ($X) and Canada ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of global imports. Japan, the Netherlands, Mexico, France, the UK, Italy, South Korea, Singapore, the United Arab Emirates and Malaysia lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, the Netherlands, 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 global 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. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average import price increased by X%. Global import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($X per ton), while Malaysia ($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 other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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