Asia: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2025

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

In 2022, after four years of growth, there was decline in the Asian market for tube or pipe fittings (of iron or steel), when its value decreased by -3.9% to $X. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2021, and then fell modestly in the following year.

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

In value terms, iron or steel tube fitting production declined to $X in 2022 estimated in export price. The total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.8% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 23%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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

Exports in Asia

In 2022, shipments abroad of tube or pipe fittings (of iron or steel) increased by 2.1% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 99%. Over the period under review, the exports hit record highs 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 expanded rapidly to $X in 2022. The total export value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 23%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

China represented the major exporter of tube or pipe fittings (of iron or steel) in Asia, with the volume of exports accounting for X tons, which was near 63% of total exports in 2022. India (X tons) took the second position in the ranking, followed by South Korea (X tons) and Thailand (X tons). All these countries together took approx. 24% share of total exports. The following exporters - Singapore (X tons), Taiwan (Chinese) (X tons) and Turkey (X tons) - each recorded a 5.5% share of total exports.

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, Turkey (+4.4%) and India (+4.3%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +4.4% from 2012-2022. By contrast, Thailand (-1.3%), Taiwan (Chinese) (-4.1%), Singapore (-5.3%) and South Korea (-5.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India increased by +5 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest iron or steel tube fitting supplier in Asia, comprising 55% of total exports. The second position in the ranking was held by India ($X), with a 9.6% share of total exports. It was followed by South Korea, with a 9% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +3.3%. The remaining exporting countries recorded the following average annual rates of exports growth: India (+5.8% per year) and South Korea (-4.3% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, rising by 8.6% against the previous year. Export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.6% 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 export price increased by +39.8% against 2017 indices. The pace of growth was the most pronounced in 2016 when the export price increased by 76% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+4.5%), while the other leaders experienced more modest paces of growth.

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

Imports in Asia

In 2022, after three years of decline, there was growth in supplies from abroad of tube or pipe fittings (of iron or steel), when their volume increased by 3.1% to X tons. Over the period under review, imports, however, saw a mild reduction. The most prominent rate of growth was recorded in 2013 with an increase of 7.8% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, iron or steel tube fitting imports expanded slightly to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 10% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X tons), Singapore (X tons), Thailand (X tons), South Korea (X tons), the United Arab Emirates (X tons), India (X tons), Malaysia (X tons), Saudi Arabia (X tons), Taiwan (Chinese) (X tons), Indonesia (X tons), Pakistan (X tons) and Turkey (X tons) was the largest importer of tube or pipe fittings (of iron or steel) in Asia, mixing up 73% of total import. Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +5.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel tube fitting importing markets in Asia were Japan ($X), Thailand ($X) and Singapore ($X), together comprising 30% of total imports. The United Arab Emirates, South Korea, Saudi Arabia, India, Indonesia, Vietnam, Turkey, Malaysia, Taiwan (Chinese) and Pakistan lagged somewhat behind, together comprising a further 40%.

In terms of the main importing countries, Vietnam, with a CAGR of +5.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, stabilizing at the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 9% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

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 Japan ($X per ton), while Pakistan ($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 (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :