Vietnam: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2025

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

The Vietnamese market for tube or pipe fittings (of iron or steel) rose notably to $X in 2022, increasing by 10% against the previous year. Over the period under review, consumption, however, continues to indicate a perceptible shrinkage. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

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

In value terms, iron or steel tube fitting production expanded notably to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a slight slump. The pace of growth appeared the most rapid in 2014 when the production volume increased by 62%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

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

Exports from Vietnam

Iron or steel tube fitting exports from Vietnam fell to X tons in 2022, waning by -13.6% against the previous year. In general, total exports indicated a notable expansion from 2012 to 2022: its volume 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, exports increased by +22.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 42% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron or steel tube fitting exports reduced to $X in 2022. Overall, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 +78.3% against 2016 indices. The pace of growth was the most pronounced in 2014 when exports increased by 55% against the previous year. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Myanmar (X tons), the United States (X tons) and Japan (X tons) were the main destinations of iron or steel tube fitting exports from Vietnam, with a combined 75% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +111.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron or steel tube fitting exported from Vietnam were Myanmar ($X), the United States ($X) and Japan ($X), together comprising 79% of total exports.

Myanmar, with a CAGR of +111.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for tube or pipe fittings (of iron or steel) amounted to $X per ton, rising by 3.3% against the previous year. Over the period under review, export price indicated a moderate expansion from 2012 to 2022: its price 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, iron or steel tube fitting export price decreased by -7.4% against 2020 indices. The pace of growth was the most pronounced in 2014 when the average export price increased by 31%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

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 Taiwan (Chinese) ($X per ton), while the average price for exports to the UK ($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 the United States (+8.5%), 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 Vietnam

In 2022, the amount of tube or pipe fittings (of iron or steel) imported into Vietnam skyrocketed to X tons, increasing by 18% against the previous year. Over the period under review, total imports indicated a remarkable increase 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 decreased by -10.8% against 2020 indices. The pace of growth was the most pronounced in 2015 when imports increased by 25% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, iron or steel tube fitting imports rose sharply to $X in 2022. In general, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -5.5% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 33%. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of iron or steel tube fitting to Vietnam, accounting for a 56% share of total imports. Moreover, iron or steel tube fitting imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. Japan (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+6.5% per year) and Japan (+4.6% per year).

In value terms, China ($X), South Korea ($X) and Japan ($X) constituted the largest iron or steel tube fitting suppliers to Vietnam, with a combined 77% share of total imports.

Among the main suppliers, China, with a CAGR of +10.4%, recorded the highest growth rate of 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

In 2022, the average import price for tube or pipe fittings (of iron or steel) amounted to $X per ton, waning by -10.3% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average import price increased by 22% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($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) (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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