Portugal: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2025

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

The Portuguese market for tube or pipe fittings (of iron or steel) reached $X in 2022, therefore, remained relatively stable against the previous year. Over the period under review, consumption, however, enjoyed a strong expansion. Iron or steel tube fitting consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

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

In value terms, iron or steel tube fitting production dropped to $X in 2022 estimated in export price. In general, production, however, recorded a strong increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 126%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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

Exports from Portugal

In 2022, overseas shipments of tube or pipe fittings (of iron or steel) increased by 22% to X tons, rising for the second year in a row after two years of decline. In general, exports showed tangible growth. The pace of growth was the most pronounced in 2018 with an increase of 62%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, iron or steel tube fitting exports soared to $X in 2022. Overall, exports posted a tangible expansion. The most prominent rate of growth was recorded in 2021 with an increase of 71%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

France (X tons), Spain (X tons) and Angola (X tons) were the main destinations of iron or steel tube fitting exports from Portugal, with a combined 76% share of total exports. Luxembourg, Italy, Germany, Mozambique and Morocco lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Luxembourg (with a CAGR of +160.3%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), France ($X) and Angola ($X) constituted the largest markets for iron or steel tube fitting exported from Portugal worldwide, with a combined 66% share of total exports. Italy, Germany, Luxembourg, Mozambique and Morocco lagged somewhat behind, together accounting for a further 15%.

Luxembourg, with a CAGR of +96.5%, recorded the highest growth rate of the value of exports, among the main countries of destination 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, growing by 2.7% against the previous year. In general, the export price, however, continues to indicate a mild reduction. The growth pace was the most rapid in 2017 an increase of 10% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Luxembourg ($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 Mozambique (+3.6%), 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 Portugal

In 2022, iron or steel tube fitting imports into Portugal dropped to X tons, with a decrease of -4.2% on the year before. In general, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +20.9% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 26% against the previous year. As a result, imports reached the peak of X tons, and then reduced modestly in the following year.

In value terms, iron or steel tube fitting imports expanded markedly to $X in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.3% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 37%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Spain (X tons) constituted the largest iron or steel tube fitting supplier to Portugal, accounting for a 47% share of total imports. Moreover, iron or steel tube fitting imports from Spain exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Italy (X tons) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain amounted to +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.6% per year) and Italy (-0.5% per year).

In value terms, Spain ($X) constituted the largest supplier of tube or pipe fittings (of iron or steel) to Portugal, comprising 39% of total imports. The second position in the ranking was taken by China ($X), with a 14% share of total imports. It was followed by Germany, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Spain amounted to +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+19.7% per year) and Germany (+8.4% per year).

Import Prices by Country

The average import price for tube or pipe fittings (of iron or steel) stood at $X per ton in 2022, with an increase of 14% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+21.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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