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

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

In 2022, the Norwegian market for tube or pipe fittings (of iron or steel) increased by 21% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, recorded a noticeable curtailment. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

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

Exports from Norway

In 2022, overseas shipments of tube or pipe fittings (of iron or steel) decreased by -8.9% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports saw a perceptible downturn. The growth pace was the most rapid in 2014 with an increase of 47%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, iron or steel tube fitting exports declined to $X in 2022. Overall, exports recorded a perceptible decline. The pace of growth appeared the most rapid in 2014 with an increase of 37%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons), South Korea (X tons) and the UK (X tons) were the main destinations of iron or steel tube fitting exports from Norway, with a combined 37% share of total exports. Denmark, the Netherlands, Finland, Vietnam, Sweden, Poland, Lithuania, Germany, Romania and Thailand lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lithuania (with a CAGR of +59.5%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and the UK ($X) were the largest markets for iron or steel tube fitting exported from Norway worldwide, with a combined 35% share of total exports. Denmark, Vietnam, the Netherlands, Poland, Romania, Lithuania, Sweden, Thailand, Germany and Finland lagged somewhat behind, together accounting for a further 29%.

Among the main countries of destination, Lithuania, with a CAGR of +56.1%, 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

In 2022, the average export price for tube or pipe fittings (of iron or steel) amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the export price showed a slight downturn. The growth pace was the most rapid in 2013 when the average export price increased by 16%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Finland ($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 Romania (+2.8%), 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 Norway

In 2022, supplies from abroad of tube or pipe fittings (of iron or steel) was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 15% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, iron or steel tube fitting imports soared to $X in 2022. Overall, imports, however, continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 23%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Sweden (X tons), China (X tons) and Germany (X tons) were the main suppliers of iron or steel tube fitting imports to Norway, together comprising 45% of total imports. Italy, Poland, the UK, the Czech Republic, Denmark, Austria, the Netherlands, India and Finland lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +35.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the UK ($X) and Germany ($X) were the largest iron or steel tube fitting suppliers to Norway, together comprising 45% of total imports. Sweden, Poland, China, Denmark, the Netherlands, the Czech Republic, Austria, Finland and India lagged somewhat behind, together comprising a further 39%.

India, with a CAGR of +28.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for tube or pipe fittings (of iron or steel) stood at $X per ton in 2022, increasing by 1.7% against the previous year. Overall, the import price, however, showed a slight decline. The growth pace was the most rapid in 2019 when the average import price increased by 17%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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