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

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

The Myanmar's market for tube or pipe fittings (of iron or steel) soared to $X in 2022, increasing by 19% against the previous year. In general, consumption, however, showed a pronounced shrinkage. Iron or steel tube fitting 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 Myanmar

In value terms, iron or steel tube fitting production expanded markedly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2018 when the production volume increased by 98% against the previous year. Iron or steel tube fitting production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

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

Exports from Myanmar

In 2022, shipments abroad of tube or pipe fittings (of iron or steel) increased by 74% to X tons, rising for the second year in a row after three years of decline. Overall, exports, however, continue to indicate a sharp shrinkage. The growth pace was the most rapid in 2021 when exports increased by 2,673% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, iron or steel tube fitting exports shrank remarkably to $X in 2022. Over the period under review, exports, however, saw a significant decline. The pace of growth was the most pronounced in 2021 when exports increased by 709% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for iron or steel tube fitting exports from Myanmar, with a 88% share of total exports. Moreover, iron or steel tube fitting exports to Japan exceeded the volume sent to the second major destination, Canada (X tons), ninefold.

From 2017 to 2022, the average annual rate of growth in terms of volume to Japan totaled +6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+151.8% per year) and Thailand (+145.8% per year).

In value terms, the largest markets for iron or steel tube fitting exported from Myanmar were Japan ($X), Canada ($X) and Thailand ($X), together accounting for 98% of total exports.

Thailand, with a CAGR of +165.7%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average export price for tube or pipe fittings (of iron or steel) amounted to $X per ton, which is down by -67.8% against the previous year. Over the period under review, the export price saw a abrupt descent. The pace of growth appeared the most rapid in 2019 an increase of 372%. As a result, the export price reached the peak level of $X per ton. From 2020 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 Canada ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+1,714.3%), 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 Myanmar

In 2022, after two years of decline, there was significant growth in supplies from abroad of tube or pipe fittings (of iron or steel), when their volume increased by 98% to X tons. In general, imports continue to indicate strong growth. The growth pace was the most rapid in 2014 with an increase of 126% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, iron or steel tube fitting imports soared to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of iron or steel tube fitting to Myanmar, accounting for a 62% share of total imports. Moreover, iron or steel tube fitting imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. Thailand (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+79.1% per year) and Thailand (+23.4% per year).

In value terms, the largest iron or steel tube fitting suppliers to Myanmar were South Korea ($X), China ($X) and Thailand ($X), together accounting for 85% of total imports.

In terms of the main suppliers, South Korea, with a CAGR of +60.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average import price for tube or pipe fittings (of iron or steel) amounted to $X per ton, which is down by -23.4% against the previous year. Overall, the import price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2013 an increase of 53% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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