Global Iron Or Steel Pipe And Tube Market Increased to $124.6B - Global Trade Magazine
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  March 14th, 2020 | Written by

Global Iron Or Steel Pipe And Tube Market Increased to $124.6B

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  • Global imports stood at 43M tonnes in 2018, picking up by 7.4% against the previous year.
  • The revenue of the market for tubes, pipes and hollow profiles (of iron or steel) worldwide amounted to $124.6B in 2018.
  • Global exports totaled 45M tonnes in 2018, growing by 7.3% against the previous year.

IndexBox has just published a new report: ‘World – Tubes, Pipes And Hollow Profiles (Of Iron Or Steel) – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the market for tubes, pipes and hollow profiles (of iron or steel) worldwide amounted to $124.6B in 2018, rising by 3.9% 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).

Consumption By Country

China (23M tonnes) constituted the country with the largest volume of consumption of tubes, pipes and hollow profiles (of iron or steel), comprising approx. 21% of total volume. Moreover, consumption of tubes, pipes and hollow profiles (of iron or steel) in China exceeded the figures recorded by the second-largest consumer, India (10M tonnes), twofold. Russia (9M tonnes) ranked third in terms of total consumption with a 8.4% share.

In China, consumption of tubes, pipes and hollow profiles (of iron or steel) remained relatively stable over the period from 2007-2018.

Production 2007-2018

In 2018, the amount of tubes, pipes and hollow profiles (of iron or steel) produced worldwide amounted to 109M tonnes, rising by 2.2% against the previous year. In general, production of tubes, pipes and hollow profiles (of iron or steel) continues to indicate a relatively flat trend pattern. Over the period under review, global production of tubes, pipes and hollow profiles (of iron or steel) reached its maximum volume in 2018 and is likely to see steady growth in the near future.

Production By Country

China (30M tonnes) remains the largest iron or steel pipe and tube producing country worldwide, comprising approx. 28% of total volume. Moreover, production of tubes, pipes and hollow profiles (of iron or steel) in China exceeded the figures recorded by the second-largest producer, India (11M tonnes), threefold. The third position in this ranking was occupied by Russia (11M tonnes), with a 9.9% share.

From 2007 to 2018, the average annual growth rate of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: India (+10.7% per year) and Russia (+2.0% per year).

Exports 2007-2018

Global exports totaled 45M tonnes in 2018, growing by 7.3% against the previous year. Over the period under review, exports of tubes, pipes and hollow profiles (of iron or steel), however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when exports increased by 20% y-o-y. The global exports peaked at 49M tonnes in 2008; however, from 2009 to 2018, exports failed to regain their momentum. In value terms, exports of tubes, pipes and hollow profiles (of iron or steel) amounted to $58.4B (IndexBox estimates) in 2018.

Exports by Country

In 2018, China (8.3M tonnes), distantly followed by Italy (3,421K tonnes), South Korea (3,392K tonnes), Germany (3,023K tonnes), Russia (2,472K tonnes) and Japan (2,157K tonnes) were the major exporters of tubes, pipes and hollow profiles (of iron or steel), together committing 51% of total exports. The following exporters – Turkey (1,995K tonnes), India (1,884K tonnes), Mexico (1,841K tonnes), Canada (1,233K tonnes), the U.S. (1,179K tonnes) and Austria (772K tonnes) – together made up 20% of total exports.

China experienced a relatively flat trend pattern of tubes, pipes and hollow profiles (of iron or steel) exports. At the same time, South Korea (+8.2%), Mexico (+7.9%), Russia (+6.7%), Turkey (+2.3%) and India (+2.3%) displayed positive paces of growth. Italy and Austria experienced a relatively flat trend pattern. By contrast, Canada (-1.4%), Germany (-2.0%), the U.S. (-2.6%) and Japan (-3.8%) illustrated a downward trend over the same period.

Export Prices by Country

In 2018, the average export price for tubes, pipes and hollow profiles (of iron or steel) amounted to $1,300 per tonne, rising by 2.8% against the previous year. Over the period under review, the export price for tubes, pipes and hollow profiles (of iron or steel), however, continues to indicate a slight downturn.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was the U.S. ($2,287 per tonne), while Turkey ($836 per tonne) was amongst the lowest.

Imports 2007-2018

Global imports stood at 43M tonnes in 2018, picking up by 7.4% against the previous year. Over the period under review, imports of tubes, pipes and hollow profiles (of iron or steel), however, continue to indicate a relatively flat trend pattern. In value terms, imports of tubes, pipes and hollow profiles (of iron or steel) amounted to $62.8B (IndexBox estimates) in 2018.

Imports by Country

In 2018, the U.S. (6.7M tonnes), distantly followed by Germany (2,210K tonnes) were the main importers of tubes, pipes and hollow profiles (of iron or steel), together comprising 21% of total imports. Australia (1,928K tonnes), Canada (1,581K tonnes), France (1,387K tonnes), Saudi Arabia (1,169K tonnes), Mexico (1,073K tonnes), Poland (970K tonnes), Italy (933K tonnes), the UK (926K tonnes), the United Arab Emirates (899K tonnes) and the Netherlands (876K tonnes) held a little share of total imports.

In value terms, the U.S. ($10B) constitutes the largest market for imported tubes, pipes and hollow profiles (of iron or steel) worldwide, comprising 16% of global imports. The second position in the ranking was occupied by Germany ($3.4B), with a 5.4% share of global imports. It was followed by Australia, with a 4.1% share.

Import Prices by Country

The average import price for tubes, pipes and hollow profiles (of iron or steel) stood at $1,460 per tonne in 2018, rising by 8.1% against the previous year.

Prices varied noticeably by the country of destination; the country with the highest price was the UK ($1,988 per tonne), while the United Arab Emirates ($1,205 per tonne) was amongst the lowest.

Source: IndexBox AI Platform