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

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

In 2022, the Lithuanian market for tube or pipe fittings (of iron or steel) decreased by -17.8% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then fell dramatically in the following year.

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

In value terms, iron or steel tube fitting production dropped remarkably to $X in 2022 estimated in export price. In general, production saw a abrupt curtailment. The growth pace was the most rapid in 2021 with an increase of 101%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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

Exports from Lithuania

In 2022, after three years of decline, there was significant growth in overseas shipments of tube or pipe fittings (of iron or steel), when their volume increased by 10% to X tons. In general, total exports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -16.5% against 2018 indices. The growth pace was the most rapid in 2018 when exports increased by 34% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, iron or steel tube fitting exports rose remarkably to $X in 2022. Overall, total exports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -25.8% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 65% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Latvia (X tons), Russia (X tons) and Belgium (X tons) were the main destinations of iron or steel tube fitting exports from Lithuania, together accounting for 40% of total exports. Estonia, Poland, Germany, Kazakhstan, Sweden, Hungary, Romania, Finland, the UK and Denmark lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +79.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron or steel tube fitting exported from Lithuania were Russia ($X), Latvia ($X) and Germany ($X), together comprising 45% of total exports. Belgium, Kazakhstan, Estonia, Poland, Sweden, the UK, Finland, Denmark, Hungary and Romania lagged somewhat behind, together comprising a further 39%.

Among the main countries of destination, the UK, with a CAGR of +99.0%, saw the highest rates of growth with regard to 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 export price for tube or pipe fittings (of iron or steel) stood at $X per ton in 2022, declining by -2.5% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 23%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Romania ($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 UK (+11.1%), 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 Lithuania

In 2022, supplies from abroad of tube or pipe fittings (of iron or steel) was finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 25% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, iron or steel tube fitting imports dropped to $X in 2022. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 47%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Poland (X tons) and Germany (X tons) were the main suppliers of iron or steel tube fitting imports to Lithuania, together accounting for 59% of total imports. Latvia, Italy, the Netherlands, Estonia, Spain and Bulgaria lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +11.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel tube fitting suppliers to Lithuania were Poland ($X), Germany ($X) and China ($X), with a combined 51% share of total imports.

In terms of the main suppliers, China, with a CAGR of +9.4%, recorded the highest growth rate of 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

In 2022, the average import price for tube or pipe fittings (of iron or steel) amounted to $X per ton, shrinking by -5.3% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 18%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform