Malaysia: Market for Stainless Steel Seamless Pipe For Oil And Gas 2024

Market Size for Stainless Steel Seamless Pipe For Oil And Gas in Malaysia

In 2022, the Malaysian stainless steel seamless pipe market increased by X% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, showed a deep downturn. Stainless steel seamless pipe consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Stainless Steel Seamless Pipe For Oil And Gas in Malaysia

In value terms, stainless steel seamless pipe production dropped to $X in 2022 estimated in export price. In general, production enjoyed a significant increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Stainless steel seamless pipe production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Stainless Steel Seamless Pipe For Oil And Gas

Exports from Malaysia

Stainless steel seamless pipe exports from Malaysia dropped to X tons in 2022, which is down by X% compared with 2021. Over the period under review, exports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2014 when exports increased by X%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, stainless steel seamless pipe exports skyrocketed to $X in 2022. Overall, exports showed a drastic downturn. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand (X tons) was the main destination for stainless steel seamless pipe exports from Malaysia, with a X% share of total exports. Moreover, stainless steel seamless pipe exports to Thailand exceeded the volume sent to the second major destination, Singapore (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume to Thailand totaled X%.

In value terms, Singapore ($X) and Thailand ($X) were the largest markets for stainless steel seamless pipe exported from Malaysia worldwide.

In terms of the main countries of destination, Thailand, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average stainless steel seamless pipe export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price, however, continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Thailand amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (X%), while the prices for the other major destinations experienced a decline.

Imports of Stainless Steel Seamless Pipe For Oil And Gas

Imports into Malaysia

In 2022, imports of stainless steel seamless pipe for oil and gas into Malaysia soared to X tons, jumping by X% compared with the previous year's figure. Overall, imports, however, showed a deep setback. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, stainless steel seamless pipe imports soared to $X in 2022. In general, imports, however, showed a abrupt decline. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), China (X tons) and Mexico (X tons) were the main suppliers of stainless steel seamless pipe imports to Malaysia, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, the largest stainless steel seamless pipe suppliers to Malaysia were Japan ($X), China ($X) and Mexico ($X), with a combined X% share of total imports.

Mexico, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average stainless steel seamless pipe import price amounted to $X per ton, declining by X% against the previous year. In general, the import price recorded a perceptible descent. The pace of growth appeared the most rapid in 2019 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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