GCC: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2025

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

The GCC market for tube or pipe fittings (of iron or steel) declined to $X in 2022, which is down by -7.9% against the previous year. Over the period under review, consumption continues to indicate a pronounced contraction. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Tube Or Pipe Fittings (Of Iron Or Steel) in GCC

In value terms, iron or steel tube fitting production expanded significantly to $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.6% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 29%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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

Exports in GCC

In 2022, shipments abroad of tube or pipe fittings (of iron or steel) decreased by -0.9% to X tons, falling for the fourth consecutive year after three years of growth. Overall, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 76%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, iron or steel tube fitting exports amounted to $X in 2022. In general, exports showed a slight contraction. The pace of growth appeared the most rapid in 2016 with an increase of 40%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates was the largest exporter of tube or pipe fittings (of iron or steel) in GCC, with the volume of exports amounting to X tons, which was approx. 69% of total exports in 2022. Saudi Arabia (X tons) held the second position in the ranking, distantly followed by Oman (X tons). All these countries together held approx. 28% share of total exports. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to iron or steel tube fitting exports from the United Arab Emirates stood at -4.0%. Oman experienced a relatively flat trend pattern. Saudi Arabia (-9.8%) and Kuwait (-10.9%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+12 p.p.) and Oman (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (-12.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest iron or steel tube fitting supplier in GCC, comprising 74% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 21% share of total exports. It was followed by Oman, with a 3.1% share.

In the United Arab Emirates, iron or steel tube fitting exports increased at an average annual rate of +3.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (-8.3% per year) and Oman (-1.1% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, with an increase of 2.1% against the previous year. Export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iron or steel tube fitting export price increased by +85.2% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of 45% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($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 Arab Emirates (+7.4%), while the other leaders experienced more modest paces of growth.

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

Imports in GCC

For the third year in a row, GCC recorded decline in supplies from abroad of tube or pipe fittings (of iron or steel), which decreased by -0.7% to X tons in 2022. Over the period under review, imports continue to indicate a noticeable descent. The growth pace was the most rapid in 2015 with an increase of 8% against the previous year. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, iron or steel tube fitting imports declined to $X in 2022. In general, imports recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 6.6% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the major importer of tube or pipe fittings (of iron or steel) in GCC, with the volume of imports resulting at X tons, which was approx. 42% of total imports in 2022. Saudi Arabia (X tons) took the second position in the ranking, distantly followed by Qatar (X tons), Oman (X tons), Kuwait (X tons) and Bahrain (X tons). All these countries together held approx. 58% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +3.3%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest iron or steel tube fitting importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X), together accounting for 82% of total imports. Oman, Kuwait and Bahrain lagged somewhat behind, together accounting for a further 18%.

Among the main importing countries, Bahrain, with a CAGR of +2.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, which is down by -7.9% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 13%. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform