Eastern Asia: Market for Base Metal Flexible Tubing, Iron Or Steel 2025

Market Size for Base Metal Flexible Tubing, Iron Or Steel in Eastern Asia

The East Asian base metal flexible tubing market rose sharply to $X in 2021, growing by 7.2% against the previous year. The market value increased at an average annual rate of +3.3% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Base Metal Flexible Tubing, Iron Or Steel in Eastern Asia

In value terms, base metal flexible tubing production expanded sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 17% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Base Metal Flexible Tubing, Iron Or Steel

Exports in Eastern Asia

For the third consecutive year, Eastern Asia recorded growth in overseas shipments of base metal flexible tubing, iron or steel, which increased by 14% to X tons in 2021. Total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +70.5% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of 23%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, base metal flexible tubing exports soared to $X in 2021. Over the period under review, exports showed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the key exporter of base metal flexible tubing, iron or steel in Eastern Asia, with the volume of exports reaching X tons, which was near 81% of total exports in 2021. South Korea (X tons) ranks second in terms of the total exports with a 13% share, followed by Taiwan (Chinese) (4.6%).

From 2012 to 2021, average annual rates of growth with regard to base metal flexible tubing exports from China stood at +5.8%. At the same time, Taiwan (Chinese) (+27.9%) and South Korea (+17.1%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +27.9% from 2012-2021. While the share of South Korea (+7.4 p.p.) and Taiwan (Chinese) (+3.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-10.5 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest base metal flexible tubing supplier in Eastern Asia, comprising 60% of total exports. The second position in the ranking was held by South Korea ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +9.2%. In the other countries, the average annual rates were as follows: South Korea (+16.2% per year) and Taiwan (Chinese) (+32.6% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, rising by 14% against the previous year. Over the last nine years, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2013 when the export price increased by 15%. Over the period under review, the export prices attained the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was South Korea ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Base Metal Flexible Tubing, Iron Or Steel

Imports in Eastern Asia

In 2021, overseas purchases of base metal flexible tubing, iron or steel increased by 16% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, base metal flexible tubing imports soared to $X in 2021. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Japan (X tons), distantly followed by Taiwan (Chinese) (X tons), Hong Kong SAR (X tons), South Korea (X tons) and China (X tons) were the key importers of base metal flexible tubing, iron or steel, together achieving 99% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Japan (with a CAGR of +5.8%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Japan ($X), Taiwan (Chinese) ($X) and China ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 77% share of total imports.

Among the main importing countries, Taiwan (Chinese), with a CAGR of +9.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, with an increase of 3.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2019 an increase of 24% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was China ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+13.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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