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

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

The Romanian market for tube or pipe fittings (of iron or steel) rose remarkably to $X in 2022, increasing by 9.9% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Iron or steel tube fitting consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

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

In value terms, iron or steel tube fitting production contracted to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt shrinkage. The growth pace was the most rapid in 2021 with an increase of 14% against the previous year. Iron or steel tube fitting production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

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

Exports from Romania

In 2022, overseas shipments of tube or pipe fittings (of iron or steel) increased by 17% to X tons, rising for the second consecutive year after three years of decline. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 20% 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 soared to $X in 2022. The total export value increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 26%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons), Italy (X tons) and Saudi Arabia (X tons) were the main destinations of iron or steel tube fitting exports from Romania, with a combined 59% share of total exports. The United States, Poland, the Netherlands, France, the UK, Hungary, Belgium and the United Arab Emirates lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +12.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron or steel tube fitting exported from Romania were Germany ($X), Italy ($X) and Saudi Arabia ($X), together comprising 61% of total exports. The UK, France, Poland, the Netherlands, the United States, Hungary, Belgium and the United Arab Emirates lagged somewhat behind, together comprising a further 26%.

Among the main countries of destination, Hungary, with a CAGR of +18.6%, recorded 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, almost unchanged from the previous year. In general, export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iron or steel tube fitting export price increased by +76.8% against 2017 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 28%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to the United Arab Emirates ($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 the UK (+23.6%), 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 Romania

In 2022, after two years of decline, there was significant growth in purchases abroad of tube or pipe fittings (of iron or steel), when their volume increased by 22% to X tons. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 38% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, iron or steel tube fitting imports rose markedly to $X in 2022. In general, total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 +28.0% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 30% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X tons), Italy (X tons) and Poland (X tons) were the main suppliers of iron or steel tube fitting imports to Romania, with a combined 58% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +16.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and China ($X) were the largest iron or steel tube fitting suppliers to Romania, with a combined 52% share of total imports. Poland, Hungary, the Netherlands, Turkey, Spain, France, Bulgaria, the Czech Republic, Austria and India lagged somewhat behind, together accounting for a further 33%.

Poland, with a CAGR of +18.7%, 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

In 2022, the average import price for tube or pipe fittings (of iron or steel) amounted to $X per ton, waning by -12% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2021 an increase of 27%. As a result, import price reached the peak level of $X per ton, and then declined in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+15.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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