Asia: Market for Stainless Steel Seamless Pipe For Oil And Gas 2024

Market Size for Stainless Steel Seamless Pipe For Oil And Gas in Asia

The Asian stainless steel seamless pipe market expanded rapidly to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Production of Stainless Steel Seamless Pipe For Oil And Gas in Asia

In value terms, stainless steel seamless pipe production stood at $X in 2022 estimated in export price. The total production indicated moderate 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Stainless Steel Seamless Pipe For Oil And Gas

Exports in Asia

In 2022, the amount of stainless steel seamless pipe for oil and gas exported in Asia plummeted to X tons, with a decrease of X% on 2021. Overall, exports recorded a deep reduction. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, stainless steel seamless pipe exports totaled $X in 2022. Over the period under review, exports recorded a noticeable slump. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China represented the main exporter of stainless steel seamless pipe for oil and gas in Asia, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. Kazakhstan (X tons) ranks second in terms of the total exports with an X% share, followed by India (X%), Singapore (X%), the United Arab Emirates (X%), South Korea (X%), Malaysia (X%) and Kuwait (X%).

From 2012 to 2022, average annual rates of growth with regard to stainless steel seamless pipe exports from China stood at X%. At the same time, Kuwait (X%), the United Arab Emirates (X%) and Kazakhstan (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, South Korea (X%), Malaysia (X%), India (X%) and Singapore (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), Kazakhstan (X p.p.), the United Arab Emirates (X p.p.) and Kuwait (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (X p.p.), Malaysia (X p.p.), India (X p.p.) and Singapore (X p.p.) displayed negative dynamics.

In value terms, China ($X), South Korea ($X) and India ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Singapore, the United Arab Emirates, Kazakhstan, Malaysia and Kuwait lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Kuwait, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 South Korea ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

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

Imports of Stainless Steel Seamless Pipe For Oil And Gas

Imports in Asia

After three years of decline, purchases abroad of stainless steel seamless pipe for oil and gas increased by X% to X tons in 2022. Over the period under review, imports, however, showed a deep reduction. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, stainless steel seamless pipe imports surged to $X in 2022. Overall, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the seven major importers of stainless steel seamless pipe for oil and gas, namely South Korea, the United Arab Emirates, Malaysia, Saudi Arabia, Singapore, India and Indonesia, represented more than two-thirds of total import. Oman (X tons), Kazakhstan (X tons), Vietnam (X tons) and Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Malaysia ($X) and India ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. The United Arab Emirates, Indonesia, Saudi Arabia, Singapore, Vietnam, Oman, Qatar and Kazakhstan lagged somewhat behind, together comprising a further X%.

The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Kazakhstan ($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 other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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