India: Market for Base Metal Flexible Tubing, Iron Or Steel 2024

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

The Indian base metal flexible tubing market reduced to $X in 2021, standing approx. at the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 9.8% against the previous year. Base metal flexible tubing consumption peaked at $X in 2020, and then fell slightly in the following year.

Production of Base Metal Flexible Tubing, Iron Or Steel in India

In value terms, base metal flexible tubing production reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 12%. Base metal flexible tubing production peaked at $X in 2020, and then shrank slightly in the following year.

Exports of Base Metal Flexible Tubing, Iron Or Steel

Exports from India

In 2021, after two years of decline, there was significant growth in shipments abroad of base metal flexible tubing, iron or steel, when their volume increased by 44% to X tons. In general, exports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of 75% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, base metal flexible tubing exports declined to $X in 2021. Over the period under review, exports, however, faced a abrupt descent. The most prominent rate of growth was recorded in 2018 when exports increased by 68%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Nepal (X tons) was the main destination for base metal flexible tubing exports from India, with a 37% share of total exports. Moreover, base metal flexible tubing exports to Nepal exceeded the volume sent to the second major destination, Saudi Arabia (X tons), twofold. The United Arab Emirates (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Nepal amounted to +41.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+1.5% per year) and the United Arab Emirates (+9.5% per year).

In value terms, the largest markets for base metal flexible tubing exported from India were Saudi Arabia ($X), Nepal ($X) and the United Arab Emirates ($X), together comprising 53% of total exports. Bangladesh, Germany, Sri Lanka, Kenya, Bahrain, Australia, Kuwait, the Netherlands, South Africa and Malaysia lagged somewhat behind, together comprising a further 25%.

In terms of the main countries of destination, Bangladesh, with a CAGR of +45.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average base metal flexible tubing export price stood at $X per ton in 2021, which is down by -35.5% against the previous year. Overall, the export price continues to indicate a noticeable decline. The growth pace was the most rapid in 2020 an increase of 29% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Base Metal Flexible Tubing, Iron Or Steel

Imports into India

In 2021, overseas purchases of base metal flexible tubing, iron or steel increased by 58% to X tons, rising for the second consecutive year after three years of decline. Overall, imports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when imports increased by 82% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, base metal flexible tubing imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a mild descent. The most prominent rate of growth was recorded in 2013 when imports increased by 63% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest base metal flexible tubing supplier to India, accounting for a 45% share of total imports. Moreover, base metal flexible tubing imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+23.5% per year) and the United States (+3.1% per year).

In value terms, the United States ($X) constituted the largest supplier of base metal flexible tubing, iron or steel to India, comprising 34% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +15.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.6% per year) and Germany (-5.3% per year).

Import Prices by Country

The average base metal flexible tubing import price stood at $X per ton in 2021, which is down by -21.3% against the previous year. In general, the import price, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2018 an increase of 64% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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