Puerto Rico: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2022

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

The Puerto Rican market for tube or pipe fittings (of iron or steel) was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, saw a abrupt decline. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, iron or steel tube fitting production declined modestly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a abrupt slump. The pace of growth appeared the most rapid in 2018 when the production volume increased by 36% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

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

Exports by Country

China was the key exporter of tube or pipe fittings (of iron or steel) in the world, with the volume of exports reaching X tons, which was approx. 46% of total exports in 2021. India (X tons) took the second position in the ranking, followed by Italy (X tons). All these countries together held approx. 14% share of total exports. Germany (X tons), South Korea (X tons), the United States (X tons), Poland (X tons), Spain (X tons), the Netherlands (X tons) and Thailand (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of tube or pipe fittings (of iron or steel). At the same time, Poland (+8.4%), India (+2.6%) and the Netherlands (+1.9%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the world, with a CAGR of +8.4% from 2012-2021. Spain and Thailand experienced a relatively flat trend pattern. By contrast, Germany (-2.5%), Italy (-3.6%), the United States (-5.2%) and South Korea (-9.0%) illustrated a downward trend over the same period. China (+3.5 p.p.), India (+1.9 p.p.) and Poland (+1.5 p.p.) significantly strengthened its position in terms of the global exports, while the United States, Italy and South Korea saw its share reduced by -1.5%, -1.9% and -3.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest iron or steel tube fitting supplier from Puerto Rico, comprising 26% of global exports. The second position in the ranking was taken by Germany ($X), with a 9.7% share of global exports. It was followed by Italy, with an 8.7% share.

In China, iron or steel tube fitting exports increased at an average annual rate of +2.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Germany (+0.5% per year) and Italy (-2.7% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, remaining stable against the previous year. In general, the export price saw a relatively flat trend pattern.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+4.1%), while the other leaders experienced more modest paces of growth.

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

Imports by Country

In 2021, the United States (X tons), distantly followed by Germany (X tons) and Canada (X tons) represented the major importers of tube or pipe fittings (of iron or steel), together mixing up 25% of total imports. Japan (X tons), South Korea (X tons), the United Arab Emirates (X tons), France (X tons), Saudi Arabia (X tons), Mexico (X tons), Singapore (X tons), the UK (X tons), Malaysia (X tons) and the Netherlands (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to iron or steel tube fitting imports into the United States stood at -1.3%. At the same time, Mexico (+3.9%), France (+1.3%) and the Netherlands (+1.1%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer imported in the world, with a CAGR of +3.9% from 2012-2021. Japan and Germany experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-1.4%), Canada (-1.6%), Malaysia (-1.7%), the UK (-3.3%), South Korea (-3.4%), Saudi Arabia (-3.4%) and Singapore (-3.8%) illustrated a downward trend over the same period. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the largest iron or steel tube fitting importing markets into Puerto Rico were the United States ($X), Germany ($X) and Canada ($X), together accounting for 22% of total imports. These countries were followed by Japan, the Netherlands, France, Mexico, Saudi Arabia, the UK, South Korea, Singapore, the United Arab Emirates and Malaysia, which together accounted for a further 27%.

In terms of the main importing countries, Mexico, with a CAGR of +4.5%, recorded the highest rates of growth with regard to 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 2021, the import price in Puerto Rico amounted to less than $X per ton, flattening at the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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