Venezuela: Aluminium Pipe Fittings Market 2024

Aluminium Pipe Fittings Market Size in Venezuela

In 2021, the Venezuelan aluminium pipe fittings market increased by 110% to $X, rising for the second consecutive year after four years of decline. In general, consumption, however, recorded a dramatic curtailment. Aluminium pipe fittings consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Aluminium Pipe Fittings Exports

Exports from Venezuela

After six years of decline, shipments abroad of aluminium tube or pipe fittings increased by 83% to X kg in 2021. Overall, exports, however, recorded a dramatic curtailment. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, aluminium pipe fittings exports surged to $X in 2021. In general, exports, however, recorded a abrupt decrease. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Aruba (X kg) was the main destination for aluminium pipe fittings exports from Venezuela, accounting for a 96% share of total exports. Moreover, aluminium pipe fittings exports to Aruba exceeded the volume sent to the second major destination, the Dominican Republic (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Aruba stood at -24.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (-20.6% per year) and Colombia (-60.0% per year).

In value terms, Aruba ($X) remains the key foreign market for aluminium tube or pipe fittings exports from Venezuela, comprising 95% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with a 4.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Aruba amounted to -14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+72.0% per year) and Colombia (-60.3% per year).

Export Prices by Country

The average aluminium pipe fittings export price stood at $X per ton in 2021, waning by -6.1% against the previous year. In general, the export price, however, showed significant growth. The pace of growth appeared the most rapid in 2019 when the average export price increased by 65%. The export price peaked at $X per ton in 2020, and then reduced in the following year.

Prices varied noticeably country of destination: the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+121.1%), while the prices for the other major destinations experienced mixed trend patterns.

Aluminium Pipe Fittings Imports

Imports into Venezuela

In 2021, overseas purchases of aluminium tube or pipe fittings increased by 150% to X tons, rising for the second year in a row after four years of decline. Over the period under review, imports, however, faced a significant curtailment. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, aluminium pipe fittings imports soared to $X in 2021. In general, imports, however, showed a significant curtailment. The growth pace was the most rapid in 2015 with an increase of 84% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of aluminium pipe fittings to Venezuela, with a 75% share of total imports. Moreover, aluminium pipe fittings imports from China exceeded the figures recorded by the second-largest supplier, Panama (X tons), eightfold. Japan (X tons) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -29.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-15.3% per year) and Japan (-21.0% per year).

In value terms, South Korea ($X) constituted the largest supplier of aluminium tube or pipe fittings to Venezuela, comprising 43% of total imports. The second position in the ranking was held by China ($X), with a 21% share of total imports. It was followed by Japan, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea amounted to -8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-35.7% per year) and Japan (-28.9% per year).

Import Prices by Country

In 2021, the average aluminium pipe fittings import price amounted to $X per ton, waning by -29.5% against the previous year. Overall, the import price continues to indicate a mild descent. The growth pace was the most rapid in 2018 when the average import price increased by 58%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+7.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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