U.S.: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2024

Market Size for Tube Or Pipe Fittings (Of Iron Or Steel) in the U.S.

In 2022, the U.S. market for tube or pipe fittings (of iron or steel) increased by 43% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +71.8% against 2020 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Tube Or Pipe Fittings (Of Iron Or Steel) in the U.S.

In value terms, iron or steel tube fitting production dropped to $X in 2022. In general, production recorded a noticeable decline. The growth pace was the most rapid in 2017 when the production volume increased by 9.3%. Iron or steel tube fitting production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

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

Exports from the U.S.

In 2022, shipments abroad of tube or pipe fittings (of iron or steel) increased by 3% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, continue to indicate a perceptible curtailment. The growth pace was the most rapid in 2021 when exports increased by 12%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron or steel tube fitting exports soared to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X tons), Mexico (X tons) and the UK (X tons) were the main destinations of iron or steel tube fitting exports from the United States, with a combined 74% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +0.5%), while the other leaders experienced a decline.

In value terms, Canada ($X), Mexico ($X) and China ($X) were the largest markets for iron or steel tube fitting exported from the United States worldwide, together accounting for 53% of total exports.

In terms of the main countries of destination, China, with a CAGR of +5.1%, 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 mixed trend patterns.

Export Prices by Country

In 2022, the average export price for tube or pipe fittings (of iron or steel) amounted to $X per ton, jumping by 17% against the previous year. Over the last decade, it increased at an average annual rate of +4.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Canada ($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 China (+12.9%), 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 the U.S.

In 2022, purchases abroad of tube or pipe fittings (of iron or steel) increased by 31% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, iron or steel tube fitting imports soared to $X in 2022. In general, total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +95.3% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), India (X tons) and South Korea (X tons) were the main suppliers of iron or steel tube fitting imports to the United States, with a combined 67% share of total imports. Italy, Mexico, Malaysia, Taiwan (Chinese), Vietnam, Thailand, Canada, Spain and Germany lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +12.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and South Korea ($X) were the largest iron or steel tube fitting suppliers to the United States, with a combined 50% share of total imports. Taiwan (Chinese), Mexico, Italy, Germany, Canada, Vietnam, Thailand, Malaysia and Spain lagged somewhat behind, together accounting for a further 36%.

Vietnam, with a CAGR of +15.9%, 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

The average import price for tube or pipe fittings (of iron or steel) stood at $X per ton in 2022, increasing by 16% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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