Eastern Asia: 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 Eastern Asia

The East Asian market for line pipe of steel other than stainless steel for oil or gas pipelines declined sharply to $X in 2022, reducing by -16.5% against the previous year. In general, consumption recorded a abrupt contraction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

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

In value terms, production of line pipe of steel other than stainless steel for oil or gas pipelines reduced to $X in 2022 estimated in export price. Overall, production recorded a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 18%. Over the period under review, production of reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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

Exports in Eastern Asia

After two years of decline, shipments abroad of line pipe of steel other than stainless steel for oil or gas pipelines increased by 13% to X tons in 2022. Over the period under review, exports, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 32%. Over the period under review, the exports of hit record highs 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 soared to $X in 2022. Overall, exports, however, continue to indicate a perceptible curtailment. Over the period under review, the exports of attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China prevails in pipelines structure, reaching X tons, which was near 93% of total exports in 2022. It was distantly followed by Japan (X tons), committing a 4.9% share of total exports. South Korea (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the line pipe of steel other than stainless steel for oil or gas pipelines exports, with a CAGR of -3.8% from 2012 to 2022. Japan (-8.8%) and South Korea (-12.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +5.6 percentage points.

In value terms, China ($X) remains the largest line pipe of steel other than stainless steel for oil or gas pipelines supplier in Eastern Asia, comprising 92% of total exports. The second position in the ranking was held by Japan ($X), with a 5.6% share of total exports.

In China, exports of line pipe of steel other than stainless steel for oil or gas pipelines plunged by an average annual rate of -1.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-10.2% per year) and South Korea (-11.6% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, growing by 19% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2021 an increase of 31%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.4%), while the other leaders experienced mixed trends in the export price figures.

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

Imports in Eastern Asia

In 2022, after three years of decline, there was growth in supplies from abroad of line pipe of steel other than stainless steel for oil or gas pipelines, when their volume increased by 1.1% to X tons. In general, imports, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 6.5%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, imports of line pipe of steel other than stainless steel for oil or gas pipelines rose significantly to $X in 2022. Over the period under review, imports, however, continue to indicate a deep downturn. The pace of growth was the most pronounced in 2018 with an increase of 15% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

South Korea (X tons) and Taiwan (Chinese) (X tons) prevails in pipelines structure, together creating 96% of total imports. China (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Taiwan (Chinese) (with a CAGR of -2.7%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, South Korea ($X) constitutes the largest market for imported line pipe of steel other than stainless steel for oil or gas pipelines in Eastern Asia, comprising 63% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 27% share of total imports.

In South Korea, imports of line pipe of steel other than stainless steel for oil or gas pipelines declined by an average annual rate of -10.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-3.2% per year) and China (-4.9% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, rising by 10% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($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 (+4.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform