Austria: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2024

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

The Austrian market for tube or pipe fittings (of iron or steel) reduced notably to $X in 2022, with a decrease of -17.7% against the previous year. Over the period under review, consumption saw a noticeable curtailment. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

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

In value terms, iron or steel tube fitting production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable contraction. Iron or steel tube fitting production peaked 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 from Austria

For the fourth consecutive year, Austria recorded decline in shipments abroad of tube or pipe fittings (of iron or steel), which decreased by -2.7% to X tons in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 7.9% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, iron or steel tube fitting exports shrank modestly to $X in 2022. The total export value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 22% against the previous year. The exports peaked at $X in 2021, and then declined in the following year.

Exports by Country

Germany (X tons) was the main destination for iron or steel tube fitting exports from Austria, with a 22% share of total exports. Moreover, iron or steel tube fitting exports to Germany exceeded the volume sent to the second major destination, the United States (X tons), threefold. Italy (X tons) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+21.3% per year) and Italy (+0.8% per year).

In value terms, Germany ($X) remains the key foreign market for tube or pipe fittings (of iron or steel) exports from Austria, comprising 23% of total exports. The second position in the ranking was taken by China ($X), with a 9.2% share of total exports. It was followed by Switzerland, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+12.2% per year) and Switzerland (+3.7% per year).

Export Prices by Country

In 2022, the average export price for tube or pipe fittings (of iron or steel) amounted to $X per ton, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The pace of growth was the most pronounced in 2018 an increase of 13% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bosnia and Herzegovina (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Austria

In 2022, approx. X tons of tube or pipe fittings (of iron or steel) were imported into Austria; with an increase of 3.3% against 2021. The total import volume increased at an average annual rate of +3.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 14% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, iron or steel tube fitting imports reached $X in 2022. The total import value increased at an average annual rate of +4.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 21% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Germany (X tons) constituted the largest iron or steel tube fitting supplier to Austria, accounting for a 53% share of total imports. Moreover, iron or steel tube fitting imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X tons), sixfold. The third position in this ranking was held by the Czech Republic (X tons), with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+1.5% per year) and the Czech Republic (+8.8% per year).

In value terms, Germany ($X) constituted the largest supplier of tube or pipe fittings (of iron or steel) to Austria, comprising 63% of total imports. The second position in the ranking was taken by Italy ($X), with a 7.5% share of total imports. It was followed by Poland, with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+1.8% per year) and Poland (+5.7% per year).

Import Prices by Country

In 2022, the average import price for tube or pipe fittings (of iron or steel) amounted to $X per ton, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2021 an increase of 14%. As a result, import price attained the peak level of $X per ton, and then contracted modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Croatia (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :