United Arab Emirates: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2024

Market Size for Tube Or Pipe Fittings (Of Iron Or Steel) in the United Arab Emirates

In 2022, the market for tube or pipe fittings (of iron or steel) in the United Arab Emirates was finally on the rise to reach $X after two years of decline. In general, consumption, however, continues to indicate a slight shrinkage. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

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

Exports from the United Arab Emirates

In 2022, shipments abroad of tube or pipe fittings (of iron or steel) decreased by -8.1% to X tons, falling for the fifth year in a row after two years of growth. Overall, exports continue to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2016 with an increase of 46%. Over the period under review, the exports reached the peak figure 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 dropped modestly to $X in 2022. In general, total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +1.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 55% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

India (X tons) was the main destination for iron or steel tube fitting exports from the United Arab Emirates, accounting for a 35% share of total exports. Moreover, iron or steel tube fitting exports to India exceeded the volume sent to the second major destination, Singapore (X tons), fivefold. The third position in this ranking was held by Germany (X tons), with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India amounted to +26.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+28.7% per year) and Germany (+22.8% per year).

In value terms, India ($X) remains the key foreign market for tube or pipe fittings (of iron or steel) exports from the United Arab Emirates, comprising 23% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 5.4% share of total exports. It was followed by Germany, with a 5.4% share.

From 2012 to 2022, the average annual growth rate of value to India stood at +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (+241.7% per year) and Germany (+25.2% 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, picking up by 6.8% against the previous year. In general, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +7.4% 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 +52.0% against 2016 indices. The pace of growth appeared the most rapid in 2013 an increase of 62%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Rwanda ($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 Tanzania (+4.0%), 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 the United Arab Emirates

After two years of decline, supplies from abroad of tube or pipe fittings (of iron or steel) increased by 11% to X tons in 2022. In general, imports, however, continue to indicate a slight descent. The pace of growth was the most pronounced in 2019 when imports increased by 53% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, iron or steel tube fitting imports expanded rapidly to $X in 2022. Overall, imports, however, showed a pronounced shrinkage. The growth pace was the most rapid in 2019 with an increase of 56% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest iron or steel tube fitting supplier to the United Arab Emirates, accounting for a 43% share of total imports. Moreover, iron or steel tube fitting imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+8.2% per year) and Italy (-8.1% per year).

In value terms, China ($X) constituted the largest supplier of tube or pipe fittings (of iron or steel) to the United Arab Emirates, comprising 29% of total imports. The second position in the ranking was held by India ($X), with a 12% share of total imports. It was followed by Italy, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+7.7% per year) and Italy (-10.7% per year).

Import Prices by Country

The average import price for tube or pipe fittings (of iron or steel) stood at $X per ton in 2022, falling by -3.9% against the previous year. Overall, the import price continues to indicate a slight decrease. The pace of growth appeared the most rapid in 2018 an increase of 9.7%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 the UK ($X per ton), while the price for Poland ($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 (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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