Steel tube fitting market
Steel Tube Fitting - World's Largest Markets
| Rating | Country |
|---|---|
| 1 | China |
| 2 | United States |
| 3 | India |
| 4 | Germany |
| 5 | Japan |
In value terms, the largest steel tube fitting markets worldwide were China, the United States and India, with a combined 31% share of the global market. These countries were followed by Germany, Japan, Mexico, Indonesia, the Netherlands, Russia, Canada, the UK, Italy and Turkey, which together accounted for a further 31%.
Indonesia recorded the highest growth rate of market size, among the main consuming countries over the period under review, while steel tube fitting market for the other global leaders experienced more modest paces of growth.
Steel Tube Fitting Prices
Lowest Prices - FOB - Top Exporters
| COUNTRY | 2018 | 2019 | 2020 | CAGR, 2018-2020 |
|---|---|---|---|---|
| USD per ton | ||||
| Malaysia | 3597 | 3138 | 2431 | -17.8% |
| China | 2817 | 2841 | 2797 | -0.4% |
| India | 3129 | 3463 | 3358 | 3.6% |
| Singapore | 4553 | 4153 | 4154 | -4.5% |
| Thailand | 4374 | 4196 | 4514 | 1.6% |
| Spain | 4385 | 4516 | 5489 | 11.9% |
| Poland | 5734 | 5906 | 6097 | 3.1% |
| South Korea | 6198 | 5728 | 6365 | 1.3% |
| Italy | 6163 | 6534 | 6941 | 6.1% |
| Netherlands | 8918 | 9527 | 10660 | 9.3% |
| Germany | 12002 | 12543 | 14113 | 8.4% |
| United States | 13826 | 14912 | 15673 | 6.5% |
| Average | 5075 | 5151 | 5304 | 2.2% |
There were significant differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was the United States ($15,673 per ton), while Malaysia ($2,431 per ton) was amongst the lowest.
From 2018 to 2020, the most notable rate of growth in terms of prices was attained by Spain, while the other global leaders experienced more modest paces of growth.
Highest Prices - CIF - Top Importers
| COUNTRY | 2018 | 2019 | 2020 | CAGR, 2018-2020 |
|---|---|---|---|---|
| USD per ton | ||||
| Netherlands | 6748 | 6661 | 8075 | 9.4% |
| Germany | 6921 | 7320 | 7493 | 4.1% |
| United Kingdom | 6384 | 6128 | 6758 | 2.9% |
| France | 7412 | 6796 | 6724 | -4.8% |
| Canada | 5496 | 5435 | 6230 | 6.5% |
| Saudi Arabia | 5604 | 5894 | 5824 | 1.9% |
| Japan | 5752 | 5518 | 5767 | 0.1% |
| Italy | 5127 | 5463 | 5115 | -0.1% |
| Singapore | 3747 | 4059 | 4819 | 13.4% |
| Russia | 4004 | 4006 | 4253 | 3.1% |
| United Arab Emirates | 4137 | 3891 | 4233 | 1.2% |
| South Korea | 3389 | 3595 | 3716 | 4.7% |
| United States | 3844 | 4071 | 3494 | -4.7% |
| Average | 5117 | 5202 | 5510 | 3.8% |
Prices varied noticeably by the country of destination; the country with the highest price was the Netherlands ($8,075 per ton), while the United States ($3,494 per ton) was amongst the lowest.
From 2018 to 2020, the most notable rate of growth in terms of prices was attained by Singapore, while the other global leaders experienced more modest paces of growth.
Steel Tube Fitting - Top Importers
| COUNTRY | 2018 | 2019 | 2020 | CAGR, 2018-2020 |
|---|---|---|---|---|
| billion USD | ||||
| United States | 2.9 | 2.7 | 1.7 | -22.9% |
| Germany | 1.3 | 1.3 | 1.2 | -5.0% |
| Japan | 0.8 | 0.8 | 0.7 | -9.8% |
| Canada | 0.9 | 0.8 | 0.6 | -13.9% |
| Netherlands | 0.6 | 0.5 | 0.6 | 2.3% |
In value terms, the largest steel tube fitting importing markets worldwide were the United States ($1.7B), Germany ($1.2B) and Japan ($660M), together accounting for 20% of global imports. Canada, the Netherlands, France, the United Arab Emirates, the UK, Saudi Arabia, South Korea, Singapore, Russia and Italy lagged somewhat behind, together accounting for a further 27%.
The United Arab Emirates recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Steel Tube Fitting - Top Exporters
| COUNTRY | 2018 | 2019 | 2020 | CAGR, 2018-2020 |
|---|---|---|---|---|
| billion USD | ||||
| China | 4.9 | 4.8 | 4.2 | -7.8% |
| Italy | 1.9 | 1.8 | 1.6 | -8.4% |
| Germany | 1.8 | 1.7 | 1.6 | -6.6% |
| United States | 1.7 | 1.6 | 1.4 | -7.9% |
| South Korea | 1 | 1 | 0.8 | -8.3% |
In value terms, China ($4.2B) remains the largest steel tube fitting supplier worldwide, comprising 25% of global exports. The second position in the ranking was occupied by Italy ($1.6B), with a 9.7% share of global exports. It was followed by Germany, with a 9.6% share.
In China, steel tube fitting exports decreased by an average annual rate of -7.8% over the period from 2018-2020. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (-8.4% per year) and Germany (-6.6% per year).
Steel Tube Fitting - Market Forecast
Driven by increasing demand for steel tube fitting worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of for the period from 2020 to 2030, which is projected to bring the market volume to by the end of 2030.
Steel Tube Fitting - Product Coverage
- HS 730711 - Cast iron; cast fittings, of non-malleable cast iron
- HS 730719 - Iron or steel; cast fittings, other than of non-malleable cast iron
- HS 730721 - Steel, stainless; tube or pipe fittings, flanges, of stainless steel
- HS 730722 - Steel, stainless; tube or pipe fittings, threaded elbows, bends and sleeves
- HS 730723 - Steel, stainless; tube or pipe fittings, butt welding fittings
- HS 730729 - Steel, stainless; tube or pipe fittings, n.e.s. in item no. 7307.2
- HS 730791 - Iron or steel; tube or pipe fittings, flanges, other than stainless steel
- HS 730792 - Iron or steel; tube or pipe fittings, threaded elbows, bends and sleeves, other than stainless steel
- HS 730793 - Iron or steel; tube or pipe fittings, butt welding fittings, other than stainless steel
- HS 730799 - Iron or steel; tube or pipe fittings, n.e.s. in item no. 7307.9, other than stainless steel
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