Australia and Oceania: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2024

Market Size for Tube Or Pipe Fittings (Of Iron Or Steel) in Australia and Oceania

In 2022, the market for tube or pipe fittings (of iron or steel) in Australia and Oceania increased by 30% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, showed a noticeable descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Tube Or Pipe Fittings (Of Iron Or Steel) in Australia and Oceania

In value terms, iron or steel tube fitting production contracted remarkably to $X in 2022 estimated in export price. Overall, production, however, showed a modest expansion. The most prominent rate of growth was recorded in 2021 when the production volume increased by 201%. As a result, production reached the peak level of $X, and then contracted significantly in the following year.

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

Exports in Australia and Oceania

In 2022, iron or steel tube fitting exports in Australia and Oceania shrank sharply to X tons, reducing by -15.1% against the year before. Over the period under review, exports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2015 with an increase of 88%. Over the period under review, the exports attained the maximum at X tons in 2021, and then shrank sharply in the following year.

In value terms, iron or steel tube fitting exports surged to $X in 2022. In general, exports saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Australia dominates exports structure, reaching X tons, which was near 94% of total exports in 2022. It was distantly followed by New Zealand (X tons), constituting a 5.2% share of total exports.

Australia was also the fastest-growing in terms of the tube or pipe fittings (of iron or steel) exports, with a CAGR of +7.2% from 2012 to 2022. New Zealand experienced a relatively flat trend pattern. While the share of Australia (+6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of New Zealand (-4.9 p.p.) displayed negative dynamics.

In value terms, Australia ($X) remains the largest iron or steel tube fitting supplier in Australia and Oceania, comprising 74% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 25% share of total exports.

In Australia, iron or steel tube fitting exports shrank by an average annual rate of -2.2% over the period from 2012-2022.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, with an increase of 47% against the previous year. Overall, the export price, however, showed a deep reduction. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 New Zealand ($X per ton), while Australia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+6.4%).

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

Imports in Australia and Oceania

In 2022, supplies from abroad of tube or pipe fittings (of iron or steel) increased by 17% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2015 with an increase of 26% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, iron or steel tube fitting imports rose markedly to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 23% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Australia represented the largest importing country with an import of about X tons, which accounted for 77% of total imports. It was distantly followed by New Zealand (X tons), making up a 17% share of total imports. Papua New Guinea (X tons) took a relatively small share of total imports.

Imports into Australia decreased at an average annual rate of -5.7% from 2012 to 2022. At the same time, New Zealand (+4.7%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +4.7% from 2012-2022. By contrast, Papua New Guinea (-9.2%) illustrated a downward trend over the same period. While the share of New Zealand (+10 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Australia (-10.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported tube or pipe fittings (of iron or steel) in Australia and Oceania, comprising 81% of total imports. The second position in the ranking was held by New Zealand ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Australia was relatively modest. In the other countries, the average annual rates were as follows: New Zealand (+6.0% per year) and Papua New Guinea (-12.7% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, declining by -2.9% against the previous year. Import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.0% 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 import price increased by +97.9% against 2015 indices. The growth pace was the most rapid in 2018 an increase of 42%. The level of import peaked at $X per ton in 2021, and then shrank slightly in the following year.

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 Australia ($X per ton), while Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+6.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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