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

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

After six years of growth, the Bangladeshi market for tube or pipe fittings (of iron or steel) decreased by -15.8% to $X in 2022. In general, consumption, however, continues to indicate a strong increase. As a result, consumption attained the peak level of $X, and then shrank rapidly in the following year.

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

Exports from Bangladesh

In 2022, shipments abroad of tube or pipe fittings (of iron or steel) was finally on the rise to reach X tons after four years of decline. Over the period under review, total exports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, iron or steel tube fitting exports shrank dramatically to $X in 2022. Overall, exports posted buoyant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 232%. As a result, the exports attained the peak of $X, and then contracted markedly in the following year.

Exports by Country

Japan (X tons) was the main destination for iron or steel tube fitting exports from Bangladesh, accounting for a 98% share of total exports. It was followed by India (X tons), with a 1.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Japan stood at +4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-11.7% per year) and Singapore (-23.2% per year).

In value terms, Japan ($X) remains the key foreign market for tube or pipe fittings (of iron or steel) exports from Bangladesh, comprising 97% of total exports. The second position in the ranking was held by India ($X), with a 1.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan amounted to +10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-3.5% per year) and Singapore (-23.9% per year).

Export Prices by Country

The average export price for tube or pipe fittings (of iron or steel) stood at $X per ton in 2022, waning by -71.6% against the previous year. Over the period under review, the export price, however, continues to indicate measured growth. The growth pace was the most rapid in 2021 when the average export price increased by 308%. As a result, the export price attained the peak level of $X per ton, and then contracted markedly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Singapore ($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 India (+9.3%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Bangladesh

Iron or steel tube fitting imports into Bangladesh fell remarkably to X tons in 2022, reducing by -20.6% compared with 2021 figures. Over the period under review, imports, however, enjoyed a temperate expansion. The pace of growth was the most pronounced in 2021 with an increase of 28%. As a result, imports attained the peak of X tons, and then fell sharply in the following year.

In value terms, iron or steel tube fitting imports contracted to $X in 2022. Overall, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 40%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest iron or steel tube fitting supplier to Bangladesh, accounting for a 72% share of total imports. Moreover, iron or steel tube fitting imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. Hong Kong SAR (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+19.0% per year) and Hong Kong SAR (+44.3% per year).

In value terms, China ($X) constituted the largest supplier of tube or pipe fittings (of iron or steel) to Bangladesh, comprising 65% of total imports. The second position in the ranking was held by India ($X), with a 5.2% share of total imports. It was followed by Thailand, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+11.2% per year) and Thailand (+17.3% per year).

Import Prices by Country

The average import price for tube or pipe fittings (of iron or steel) stood at $X per ton in 2022, growing by 8.1% against the previous year. Over the period under review, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +7.1% 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 +57.8% against 2017 indices. The growth pace was the most rapid in 2014 an increase of 27%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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