South-Eastern Asia: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2024

Market Size for Tube Or Pipe Fittings (Of Iron Or Steel) in South-Eastern Asia

The Southeast Asian market for tube or pipe fittings (of iron or steel) expanded modestly to $X in 2022, picking up by 4% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market hit record highs 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 South-Eastern Asia

In value terms, iron or steel tube fitting production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the production volume increased by 28%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

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

Exports in South-Eastern Asia

In 2022, shipments abroad of tube or pipe fittings (of iron or steel) increased by 8.7% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, continue to indicate a slight curtailment. The growth pace was the most rapid in 2018 with an increase of 12% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, iron or steel tube fitting exports rose significantly to $X in 2022. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 15% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

In 2022, Thailand (X tons) was the major exporter of tube or pipe fittings (of iron or steel), mixing up 42% of total exports. Singapore (X tons) took an 18% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (16%), Indonesia (14%) and Vietnam (6.4%). Cambodia (X tons) followed a long way behind the leaders.

Exports from Thailand decreased at an average annual rate of -1.3% from 2012 to 2022. At the same time, Cambodia (+25.5%), Indonesia (+5.7%) and Vietnam (+2.7%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +25.5% from 2012-2022. By contrast, Malaysia (-1.8%) and Singapore (-5.3%) illustrated a downward trend over the same period. While the share of Indonesia (+7.4 p.p.), Vietnam (+2.3 p.p.) and Cambodia (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-8.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Singapore ($X) and Vietnam ($X) were the countries with the highest levels of exports in 2022, together accounting for 77% of total exports. Indonesia, Malaysia and Cambodia lagged somewhat behind, together accounting for a further 21%.

In terms of the main exporting countries, Cambodia, with a CAGR of +26.1%, saw the highest growth rate of 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

The export price in South-Eastern Asia stood at $X per ton in 2022, rising by 2.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2019 when the export price increased by 21%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+4.5%), while the other leaders experienced more modest paces of growth.

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

Imports in South-Eastern Asia

In 2022, approx. X tons of tube or pipe fittings (of iron or steel) were imported in South-Eastern Asia; with an increase of 11% on 2021 figures. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 18%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, iron or steel tube fitting imports rose sharply to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 18%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Singapore (X tons) and Thailand (X tons) represented the major importers of tube or pipe fittings (of iron or steel) in South-Eastern Asia, together mixing up 52% of total imports. Malaysia (X tons) ranks next in terms of the total imports with a 17% share, followed by Indonesia (12%), Vietnam (9.5%) and the Philippines (6.8%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +5.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Singapore ($X) and Indonesia ($X) were the countries with the highest levels of imports in 2022, with a combined 71% share of total imports. Vietnam, Malaysia and the Philippines lagged somewhat behind, together accounting for a further 27%.

In terms of the main importing countries, Vietnam, with a CAGR of +5.7%, saw 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

The import price in South-Eastern Asia stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 12%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Malaysia ($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 Philippines (+1.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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