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

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

The Costa Rican market for tube or pipe fittings (of iron or steel) was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption, however, continues to indicate a mild decline. Iron or steel tube fitting consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

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

Exports from Costa Rica

In 2022, approx. X tons of tube or pipe fittings (of iron or steel) were exported from Costa Rica; which is down by -9.9% compared with 2021 figures. Overall, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 178% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, iron or steel tube fitting exports fell to $X in 2022. In general, exports, however, showed prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 220% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Nicaragua (X tons), El Salvador (X tons) and Panama (X tons) were the main destinations of iron or steel tube fitting exports from Costa Rica, together comprising 75% of total exports. Honduras, Guatemala, the United States and Venezuela lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +21.0%), while the other leaders experienced more modest paces of growth.

In value terms, Nicaragua ($X), the United States ($X) and Panama ($X) constituted the largest markets for iron or steel tube fitting exported from Costa Rica worldwide, with a combined 63% share of total exports.

The United States, with a CAGR of +25.5%, saw the highest growth rate of the value of exports, among 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

The average export price for tube or pipe fittings (of iron or steel) stood at $X per ton in 2022, shrinking by -3.4% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 15%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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 the United States ($X per ton), while the average price for exports to El Salvador ($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 the United States (+3.7%), 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 Costa Rica

In 2022, overseas purchases of tube or pipe fittings (of iron or steel) were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a mild curtailment. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, iron or steel tube fitting imports expanded markedly to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 38% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest iron or steel tube fitting supplier to Costa Rica, with a 63% 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), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.6% per year) and Mexico (+2.8% per year).

In value terms, the United States ($X), China ($X) and Mexico ($X) appeared to be the largest iron or steel tube fitting suppliers to Costa Rica, with a combined 85% share of total imports.

Among the main suppliers, China, with a CAGR of +0.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average import price for tube or pipe fittings (of iron or steel) amounted to $X per ton, which is down by -5.1% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 23% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then dropped 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 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 (+4.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform