Base Metal Flexible Tubing Market

The global base metal flexible tubing market is projected to see a steady increase in consumption and value over the next eight years, with a forecasted CAGR of +0.1% for volume and +3.1% for value from 2022 to 2030. In 2022, both consumption and production saw growth after previous declines, with China, the United States, and Italy being the top consuming countries. The United States, France, and Germany were major importers, while China, Turkey, and the Netherlands were key exporters. Prices and trends varied significantly among these countries.

Market Forecast

Driven by increasing demand for base metal flexible tubing, iron or steel worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.1% for the period from 2022 to 2030, which is projected to bring the market volume to 260K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.1% for the period from 2022 to 2030, which is projected to bring the market value to $4.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Base Metal Flexible Tubing, Iron Or Steel

In 2022, consumption of base metal flexible tubing, iron or steel was finally on the rise to reach 257K tons after four years of decline. The total consumption volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak volume of 262K tons. From 2018 to 2022, the growth of the global consumption remained at a somewhat lower figure.

The global base metal flexible tubing market revenue rose to $3.8B in 2022, with an increase of 4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +4.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market hit record highs at $3.9B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (63K tons), the United States (40K tons) and Italy (28K tons), together comprising 51% of global consumption. India, Japan, Russia, France, Israel, Mexico, South Korea and Canada lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Israel (with a CAGR of +26.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.4B), Japan ($796M) and China ($333M) were the countries with the highest levels of market value in 2022, together accounting for 66% of the global market. India, South Korea, Russia, Italy, Canada, Israel, Mexico and France lagged somewhat behind, together accounting for a further 21%.

Israel, with a CAGR of +24.2%, saw the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of base metal flexible tubing per capita consumption in 2022 were Israel (588 kg per 1000 persons), Italy (466 kg per 1000 persons) and the United States (119 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +23.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Base Metal Flexible Tubing, Iron Or Steel

In 2022, production of base metal flexible tubing, iron or steel was finally on the rise to reach 239K tons for the first time since 2018, thus ending a three-year declining trend. The total output volume increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 17%. Global production peaked at 242K tons in 2018; however, from 2019 to 2022, production remained at a lower figure.

In value terms, base metal flexible tubing production contracted modestly to $3.3B in 2022 estimated in export price. In general, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.1% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 14%. Over the period under review, global production reached the peak level at $4.1B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of base metal flexible tubing production was China (75K tons), comprising approx. 31% of total volume. Moreover, base metal flexible tubing production in China exceeded the figures recorded by the second-largest producer, the United States (30K tons), threefold. Italy (27K tons) ranked third in terms of total production with an 11% share.

In China, base metal flexible tubing production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+6.6% per year) and Italy (+6.8% per year).

Imports

World Imports of Base Metal Flexible Tubing, Iron Or Steel

In 2022, the amount of base metal flexible tubing, iron or steel imported worldwide expanded markedly to 56K tons, surging by 7.1% against 2021 figures. The total import volume increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 14% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, base metal flexible tubing imports surged to $521M in 2022. The total import value increased at an average annual rate of +3.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 19% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports By Country

In 2022, the United States (11K tons), distantly followed by France (5.5K tons) represented the major importers of base metal flexible tubing, iron or steel, together mixing up 31% of total imports. The following importers - Mauritania (2.2K tons), Germany (1.9K tons), the UK (1.8K tons), Spain (1.7K tons), Italy (1.5K tons), Japan (1.4K tons), Poland (1.4K tons), Thailand (1.2K tons), Mexico (1K tons), Indonesia (1K tons) and Belgium (0.9K tons) - together made up 29% of total imports.

From 2012 to 2022, average annual rates of growth with regard to base metal flexible tubing imports into the United States stood at +12.7%. At the same time, Mauritania (+76.9%), France (+12.6%), Indonesia (+7.7%), Spain (+7.0%), the UK (+5.2%), Japan (+4.4%) and Italy (+3.4%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in the world, with a CAGR of +76.9% from 2012-2022. Germany and Poland experienced a relatively flat trend pattern. By contrast, Mexico (-1.7%), Belgium (-3.5%) and Thailand (-4.6%) illustrated a downward trend over the same period. While the share of the United States (+12 p.p.), France (+5.8 p.p.) and Mauritania (+3.9 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Belgium (-1.6 p.p.) and Thailand (-2.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($102M) constitutes the largest market for imported base metal flexible tubing, iron or steel worldwide, comprising 20% of global imports. The second position in the ranking was held by France ($38M), with a 7.2% share of global imports. It was followed by Germany, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at +10.1%. In the other countries, the average annual rates were as follows: France (+8.6% per year) and Germany (+2.9% per year).

Import Prices By Country

The average base metal flexible tubing import price stood at $9,331 per ton in 2022, with an increase of 8.6% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 9.7% against the previous year. Global import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($18,925 per ton), while Thailand ($2,699 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritania (+12.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Base Metal Flexible Tubing, Iron Or Steel

In 2022, the amount of base metal flexible tubing, iron or steel exported worldwide expanded slightly to 38K tons, surging by 4.8% against 2021. The total export volume increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 18%. The global exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, base metal flexible tubing exports reached $441M in 2022. The total export value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 22% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports By Country

China was the key exporting country with an export of about 12K tons, which finished at 33% of total exports. Turkey (5.7K tons) took the second position in the ranking, distantly followed by the Netherlands (3K tons), Israel (2.5K tons) and Mexico (1.9K tons). All these countries together held approx. 35% share of total exports. The following exporters - Germany (1,359 tons), the United States (1,257 tons), the United Arab Emirates (931 tons), Italy (870 tons), Denmark (842 tons), Tunisia (745 tons) and Canada (598 tons) - together made up 18% of total exports.

Exports from China increased at an average annual rate of +5.5% from 2012 to 2022. At the same time, Israel (+72.3%), the United Arab Emirates (+22.0%), Canada (+9.6%), Mexico (+8.8%), Turkey (+6.3%), Tunisia (+4.2%) and Denmark (+3.3%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in the world, with a CAGR of +72.3% from 2012-2022. Italy experienced a relatively flat trend pattern. By contrast, the United States (-1.8%), the Netherlands (-2.0%) and Germany (-7.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Israel, Turkey, Mexico and the United Arab Emirates increased by +8, +6.6, +4.5, +2.2 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest base metal flexible tubing supplying countries worldwide were China ($73M), the United States ($57M) and Germany ($46M), together comprising 40% of global exports. Israel, Turkey, the Netherlands, Canada, Denmark, Italy, Mexico, Tunisia and the United Arab Emirates lagged somewhat behind, together accounting for a further 37%.

Israel, with a CAGR of +66.7%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average base metal flexible tubing export price stood at $11,690 per ton in 2022, leveling off at the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 6.3% against the previous year. Over the period under review, the average export prices attained the maximum at $11,933 per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($45,308 per ton), while the United Arab Emirates ($4,553 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform