China: Market for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines 2024

Market Size for Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines in China

The Chinese market for line pipe of steel other than stainless steel for oil or gas pipelines shrank dramatically to $X in 2022, declining by -20.9% against the previous year. In general, consumption saw a pronounced decrease. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines in China

In value terms, production of line pipe of steel other than stainless steel for oil or gas pipelines shrank to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2021 when the production volume increased by 20% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Exports from China

In 2022, overseas shipments of line pipe of steel other than stainless steel for oil or gas pipelines were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, continue to indicate a pronounced contraction. The growth pace was the most rapid in 2017 when exports increased by 38% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of line pipe of steel other than stainless steel for oil or gas pipelines skyrocketed to $X in 2022. Overall, exports, however, recorded a slight decrease. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons), Iraq (X tons) and Thailand (X tons) were the main destinations of exports of line pipe of steel other than stainless steel for oil or gas pipelines from China, together accounting for 31% of total exports. Kuwait, Malaysia, Indonesia, South Korea, Turkey, Nigeria, Israel, Egypt, Oman and Peru lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Israel (with a CAGR of +8.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Iraq ($X) and Thailand ($X) were the largest markets for line pipe of steel other than stainless steel for oil or gas pipelines exported from China worldwide, together accounting for 31% of total exports. Kuwait, Malaysia, South Korea, Israel, Indonesia, Turkey, Nigeria, Egypt, Oman and Peru lagged somewhat behind, together accounting for a further 33%.

Israel, with a CAGR of +16.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination 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 line pipe of steel other than stainless steel for oil or gas pipelines amounted to $X per ton, growing by 20% against the previous year. Over the period under review, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for line pipe of steel other than stainless steel for oil or gas pipelines increased by +66.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 39% 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 the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Israel ($X per ton), while the average price for exports to Peru ($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 Israel (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Line Pipe of Steel other than Stainless Steel for Oil or Gas Pipelines

Imports into China

In 2022, approx. X tons of line pipe of steel other than stainless steel for oil or gas pipelines were imported into China; picking up by 48% against 2021. Overall, imports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2020 with an increase of 251%. Over the period under review, imports of reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of line pipe of steel other than stainless steel for oil or gas pipelines soared to $X in 2022. Over the period under review, imports, however, showed a noticeable downturn. The pace of growth appeared the most rapid in 2019 with an increase of 120% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Italy (X tons), Saudi Arabia (X tons) and Germany (X tons) were the main suppliers of imports of line pipe of steel other than stainless steel for oil or gas pipelines to China, together comprising 62% of total imports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +96.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of line pipe of steel other than stainless steel for oil or gas pipelines to China, comprising 41% of total imports. The second position in the ranking was held by Spain ($X), with a 12% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Italy amounted to +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+22.4% per year) and Germany (+6.4% per year).

Import Prices by Country

In 2022, the average import price for line pipe of steel other than stainless steel for oil or gas pipelines amounted to $X per ton, with a decrease of -2% against the previous year. Over the period under review, the import price, however, continues to indicate a notable increase. The pace of growth appeared the most rapid in 2018 when the average import price increased by 86%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform