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

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

In 2022, the Serbian market for tube or pipe fittings (of iron or steel) decreased by -12.5% to $X, falling for the second year in a row after six years of growth. Overall, consumption, however, showed resilient growth. 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 Serbia

In value terms, iron or steel tube fitting production contracted to $X in 2022 estimated in export price. Overall, production, however, saw strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 155% against the previous year. Iron or steel tube fitting production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

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

Exports from Serbia

In 2022, approx. X tons of tube or pipe fittings (of iron or steel) were exported from Serbia; jumping by 38% against the previous year's figure. In general, exports recorded a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, iron or steel tube fitting exports soared to $X in 2022. Overall, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2014 when exports increased by 37%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Germany (X tons) was the main destination for iron or steel tube fitting exports from Serbia, with a 41% share of total exports. Moreover, iron or steel tube fitting exports to Germany exceeded the volume sent to the second major destination, Austria (X tons), threefold. Bosnia and Herzegovina (X tons) ranked third in terms of total exports with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled +14.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+65.3% per year) and Bosnia and Herzegovina (+7.7% per year).

In value terms, Germany ($X) remains the key foreign market for tube or pipe fittings (of iron or steel) exports from Serbia, comprising 58% of total exports. The second position in the ranking was held by Austria ($X), with a 7.5% share of total exports. It was followed by Italy, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+53.6% per year) and Italy (-1.4% per year).

Export Prices by Country

In 2022, the average export price for tube or pipe fittings (of iron or steel) amounted to $X per ton, shrinking by -2.5% against the previous year. In general, the export price saw a slight decline. The most prominent rate of growth was recorded in 2021 an increase of 18% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the 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 Russia ($X per ton), while the average price for exports to Croatia ($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 North Macedonia (+4.9%), 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 Serbia

In 2022, the amount of tube or pipe fittings (of iron or steel) imported into Serbia reached X tons, remaining stable against 2021. Overall, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 32% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, iron or steel tube fitting imports fell slightly to $X in 2022. In general, imports saw a buoyant expansion. The pace of growth was the most pronounced in 2019 when imports increased by 61% against the previous year. Imports peaked at $X in 2021, and then reduced slightly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of iron or steel tube fitting to Serbia, with a 48% share of total imports. Moreover, iron or steel tube fitting imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), sevenfold. The third position in this ranking was held by Italy (X tons), with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.9% per year) and Italy (+2.2% per year).

In value terms, Germany ($X), China ($X) and Italy ($X) constituted the largest iron or steel tube fitting suppliers to Serbia, with a combined 55% share of total imports. The Czech Republic, France, the Netherlands, Hungary, Austria, Turkey, Poland, Slovenia, Croatia and North Macedonia lagged somewhat behind, together comprising a further 32%.

The Czech Republic, with a CAGR of +34.2%, saw the highest rates of growth with regard to the value of imports, in terms of 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, dropping by -2.3% against the previous year. In general, the import price, however, continues to indicate a perceptible increase. The most prominent rate of growth was recorded in 2020 an increase of 28%. The import price peaked at $X per ton in 2021, and then dropped slightly 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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform