Asia: Market for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) 2024

Market Size for Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) in Asia

In 2021, the Asian market for tubes, pipes and hollow profiles (of iron or steel) was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Production of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) in Asia

In value terms, production of tubes, pipes and hollow profiles (of iron or steel) surged to $X in 2021 estimated in export price. The total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -26.2% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 31% against the previous year. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Exports in Asia

In 2021, after three years of decline, there was growth in shipments abroad of tubes, pipes and hollow profiles (of iron or steel), when their volume increased by 3.2% to X tons. In general, exports, however, saw a perceptible decline. The pace of growth appeared the most rapid in 2017 with an increase of 37% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, exports of tubes, pipes and hollow profiles (of iron or steel) skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a noticeable descent. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China was the major exporting country with an export of about X tons, which recorded 46% of total exports. Turkey (X tons) held the second position in the ranking, followed by South Korea (X tons), India (X tons) and Japan (X tons). All these countries together held near 35% share of total exports. The United Arab Emirates (X tons) and Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to iron or steel pipe and tube exports from China stood at -2.7%. At the same time, the United Arab Emirates (+6.7%) and Vietnam (+4.2%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of +6.7% from 2012-2021. Turkey experienced a relatively flat trend pattern. By contrast, South Korea (-5.8%), India (-6.3%) and Japan (-11.8%) illustrated a downward trend over the same period. While the share of China (+5.4 p.p.), Turkey (+4 p.p.), the United Arab Emirates (+2.5 p.p.) and Vietnam (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of India (-1.7 p.p.), South Korea (-1.8 p.p.) and Japan (-6.6 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest iron or steel pipe and tube supplier in Asia, comprising 46% of total exports. The second position in the ranking was held by Japan ($X), with an 11% share of total exports. It was followed by South Korea, with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-10.2% per year) and South Korea (-4.9% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, with an increase of 24% against the previous year. In general, the export price saw a relatively flat trend pattern. 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 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.4%), while the other leaders experienced more modest paces of growth.

Imports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

Imports in Asia

In 2021, overseas purchases of tubes, pipes and hollow profiles (of iron or steel) decreased by -9.3% to X tons, falling for the third year in a row after two years of growth. Overall, imports saw a perceptible decline. The most prominent rate of growth was recorded in 2018 when imports increased by 5.4% against the previous year. Over the period under review, imports of reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of tubes, pipes and hollow profiles (of iron or steel) reduced modestly to $X in 2021. Over the period under review, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2018 when imports increased by 20% against the previous year. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the twelve major importers of tubes, pipes and hollow profiles (of iron or steel), namely the United Arab Emirates, India, South Korea, Indonesia, Iraq, Oman, Kazakhstan, Thailand, Saudi Arabia, the Philippines, Turkey and Singapore, represented more than half of total import. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +18.3%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest iron or steel pipe and tube importing markets in Asia were the United Arab Emirates ($X), India ($X) and South Korea ($X), together comprising 20% of total imports. Saudi Arabia, Indonesia, Thailand, Turkey, Singapore, Iraq, Oman, Kazakhstan, Kuwait and the Philippines lagged somewhat behind, together comprising a further 41%.

In terms of the main importing countries, the Philippines, with a CAGR of +13.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, increasing by 9.1% against the previous year. In general, the import price, however, showed a mild curtailment. The pace of growth appeared the most rapid in 2018 an increase of 14% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+0.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :