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

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

The Chilean market for tube or pipe fittings (of iron or steel) soared to $X in 2022, jumping by 17% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in the immediate term.

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

Exports from Chile

In 2022, approx. X tons of tube or pipe fittings (of iron or steel) were exported from Chile; picking up by 17% on the previous year. In general, exports, however, recorded a pronounced decline. The growth pace was the most rapid in 2017 with an increase of 87%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, iron or steel tube fitting exports soared to $X in 2022. Over the period under review, exports, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2017 with an increase of 124% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Colombia (X tons) was the main destination for iron or steel tube fitting exports from Chile, with a 40% share of total exports. Moreover, iron or steel tube fitting exports to Colombia exceeded the volume sent to the second major destination, Australia (X tons), threefold. The third position in this ranking was held by Peru (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Colombia amounted to +63.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+125.5% per year) and Peru (-13.8% per year).

In value terms, the largest markets for iron or steel tube fitting exported from Chile were Colombia ($X), Peru ($X) and Argentina ($X), with a combined 63% share of total exports. The United States, Bolivia, Australia, Uruguay, Ecuador and Paraguay lagged somewhat behind, together comprising a further 32%.

In terms of the main countries of destination, Australia, with a CAGR of +76.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for tube or pipe fittings (of iron or steel) amounted to $X per ton, with an increase of 2% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible descent. The growth pace was the most rapid in 2013 when the average export price increased by 46% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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 the United States ($X per ton), while the average price for exports to Paraguay ($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 Peru (+5.4%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Chile

In 2022, overseas purchases of tube or pipe fittings (of iron or steel) were finally on the rise to reach X tons after two years of decline. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 53%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, iron or steel tube fitting imports skyrocketed to $X in 2022. Overall, total imports indicated measured growth from 2012 to 2022: its value 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. Based on 2022 figures, imports increased by +17.0% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest iron or steel tube fitting supplier to Chile, accounting for a 84% share of total imports. Moreover, iron or steel tube fitting imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.1% per year) and Italy (-4.4% per year).

In value terms, China ($X) constituted the largest supplier of tube or pipe fittings (of iron or steel) to Chile, comprising 52% of total imports. The second position in the ranking was held by the United States ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.0% per year) and Italy (-3.1% 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, with an increase of 17% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2021 an increase of 21% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

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 United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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