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

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

In 2022, after four years of growth, there was significant decline in the Turkish market for tube or pipe fittings (of iron or steel), when its value decreased by -17.6% to $X. Over the period under review, consumption, however, posted a resilient increase. As a result, consumption reached the peak level of $X, and then shrank dramatically in the following year.

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

In value terms, iron or steel tube fitting production contracted significantly to $X in 2022 estimated in export price. Overall, production, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 100%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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

Exports from Turkey

Iron or steel tube fitting exports from Turkey expanded to X tons in 2022, rising by 3.6% against the previous year. Over the period under review, total exports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +71.9% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 27%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, iron or steel tube fitting exports rose sharply to $X in 2022. Overall, total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +89.8% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of 37%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Germany (X tons), Russia (X tons) and Italy (X tons) were the main destinations of iron or steel tube fitting exports from Turkey, with a combined 31% share of total exports. Iraq, Spain, France, Iran, the UK, Romania, Morocco, Uzbekistan, Turkmenistan and Bulgaria lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +29.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for tube or pipe fittings (of iron or steel) exports from Turkey, comprising 20% of total exports. The second position in the ranking was taken by Russia ($X), with a 6.9% share of total exports. It was followed by Italy, with a 5.7% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+8.7% per year) and Italy (+13.9% per year).

Export Prices by Country

The average export price for tube or pipe fittings (of iron or steel) stood at $X per ton in 2022, rising by 7.2% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 7.4% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Spain ($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 Romania (+3.8%), 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 Turkey

In 2022, iron or steel tube fitting imports into Turkey soared to X tons, with an increase of 23% against 2021 figures. Overall, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.8% 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 +47.1% against 2018 indices. The growth pace was the most rapid in 2015 when imports increased by 52%. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, iron or steel tube fitting imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +65.7% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 42%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), South Korea (X tons) and Italy (X tons) were the main suppliers of iron or steel tube fitting imports to Turkey, together accounting for 75% of total imports. Germany, Poland, India, Malaysia and Spain lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +22.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel tube fitting suppliers to Turkey were China ($X), Italy ($X) and South Korea ($X), together accounting for 56% of total imports. Germany, India, Poland, Spain and Malaysia lagged somewhat behind, together comprising a further 20%.

Poland, with a CAGR of +18.4%, recorded the highest growth rate of 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, increasing by 5.1% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 31% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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