Aluminium Pipe Fittings Market

The article discusses the expected decrease in consumption of aluminium pipe fittings over the period from 2022 to 2030, with forecasted CAGR and market volume and value projections. It provides insights into the market trends, production, exports, and imports of aluminium pipe fittings, highlighting key countries involved in production and trade. Detailed analysis of consumption, production, imports, and exports data from various countries is presented, along with average annual growth rates and price trends in the global aluminium pipe fittings market.

Market Forecast

The aluminium pipe fittings market is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -2.2% for the eight-year period from 2022 to 2030, which is projected to depress the market volume to 1.1M tons by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +1.4% for the period from 2022 to 2030, which is projected to bring the market value to $8.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Aluminium Tube Or Pipe Fittings

In 2022, after two years of growth, there was decline in consumption of aluminium tube or pipe fittings, when its volume decreased by -1.4% to 1.3M tons. Overall, consumption, however, continues to indicate a significant expansion. As a result, consumption reached the peak volume of 1.4M tons, and then contracted in the following year.

The global aluminium pipe fittings market size contracted to $7.9B in 2022, which is down by -5.8% 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). Over the period under review, consumption, however, enjoyed a remarkable increase. As a result, consumption attained the peak level of $8.4B, and then shrank in the following year.

Consumption By Country

The country with the largest volume of aluminium pipe fittings consumption was Finland (1.1M tons), comprising approx. 84% of total volume. It was followed by China (30K tons), with a 2.2% share of total consumption.

In Finland, aluminium pipe fittings consumption expanded at an average annual rate of +139.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (-0.0% per year) and the United States (-2.0% per year).

In value terms, Finland ($4.9B) led the market, alone. The second position in the ranking was held by the United States ($424M).

In Finland, the aluminium pipe fittings market expanded at an average annual rate of +139.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (-2.4% per year) and China (+0.4% per year).

From 2012 to 2022, the average annual rate of growth in terms of the aluminium pipe fittings per capita consumption in Finland stood at +139.3%. In the other countries, the average annual rates were as follows: the United States (-2.7% per year) and China (-0.5% per year).

Production

World Production of Aluminium Tube Or Pipe Fittings

After two years of growth, production of aluminium tube or pipe fittings decreased by -1.5% to 1.3M tons in 2022. Over the period under review, production, however, showed a significant increase. The most prominent rate of growth was recorded in 2021 when the production volume increased by 522% against the previous year. As a result, production attained the peak volume of 1.4M tons, and then contracted slightly in the following year.

In value terms, aluminium pipe fittings production totaled $3.1B in 2022 estimated in export price. Overall, the total production indicated a perceptible expansion from 2012 to 2022: its value 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, production decreased by -35.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 52%. Over the period under review, global production reached the peak level at $4.7B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

The country with the largest volume of aluminium pipe fittings production was Finland (1.1M tons), accounting for 84% of total volume. Moreover, aluminium pipe fittings production in Finland exceeded the figures recorded by the second-largest producer, China (61K tons), more than tenfold. The third position in this ranking was taken by the United States (27K tons), with a 2% share.

In Finland, aluminium pipe fittings production expanded at an average annual rate of +101.3% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: China (+2.7% per year) and the United States (-3.2% per year).

Imports

World Imports of Aluminium Tube Or Pipe Fittings

In 2022, purchases abroad of aluminium tube or pipe fittings increased by 7% to 81K tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 27%. Over the period under review, global imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, aluminium pipe fittings imports stood at $1.2B in 2022. The total import value increased at an average annual rate of +4.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 26%. Over the period under review, global imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports By Country

In 2022, the United States (10K tons), Mexico (7.2K tons), Canada (5.2K tons) and Germany (4.4K tons) was the key importer of aluminium tube or pipe fittings in the world, generating 34% of total import. The following importers - the Czech Republic (2.9K tons), the Netherlands (2.8K tons), Poland (2.5K tons), Spain (2.3K tons), the UK (2K tons), France (2K tons), China (1.8K tons), Malaysia (1.7K tons) and Belgium (1.7K tons) - together made up 24% of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +12.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest aluminium pipe fittings importing markets worldwide were Mexico ($146M), the United States ($116M) and Canada ($76M), with a combined 29% share of global imports. Germany, China, the Czech Republic, the Netherlands, the UK, France, Spain, Poland, Belgium and Malaysia lagged somewhat behind, together accounting for a further 32%.

In terms of the main importing countries, the Czech Republic, with a CAGR of +10.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average aluminium pipe fittings import price amounted to $14,252 per ton, rising by 7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2018 an increase of 7.6% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($28,388 per ton), while Malaysia ($5,338 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+4.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Aluminium Tube Or Pipe Fittings

In 2022, shipments abroad of aluminium tube or pipe fittings increased by 6.1% to 85K tons, rising for the second year in a row after three years of decline. The total export volume increased at an average annual rate of +3.8% 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 2017 with an increase of 23%. Over the period under review, the global exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, aluminium pipe fittings exports rose sharply to $1.2B in 2022. The total export value increased at an average annual rate of +4.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 25% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports By Country

In 2022, China (33K tons) represented the major exporter of aluminium tube or pipe fittings, creating 38% of total exports. It was distantly followed by the United States (8.1K tons), Italy (7.9K tons) and India (5.8K tons), together comprising a 26% share of total exports. Germany (3.6K tons), Turkey (2.9K tons), South Korea (2.7K tons), Spain (1.9K tons), the Netherlands (1.7K tons), the Czech Republic (1.6K tons), Taiwan (Chinese) (1.6K tons) and Vietnam (1.5K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to aluminium pipe fittings exports from China stood at +6.1%. At the same time, India (+30.8%), the Czech Republic (+30.1%), Vietnam (+20.1%), Italy (+14.4%), Turkey (+11.8%), Germany (+8.0%), South Korea (+7.1%), the Netherlands (+3.2%) and Taiwan (Chinese) (+1.8%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +30.8% from 2012-2022. Spain and the United States experienced a relatively flat trend pattern. From 2012 to 2022, the share of China, India, Italy, Turkey and the Czech Republic increased by +7.6, +6.2, +5.8, +1.8 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($382M) remains the largest aluminium pipe fittings supplier worldwide, comprising 33% of global exports. The second position in the ranking was taken by the United States ($161M), with a 14% share of global exports. It was followed by Germany, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +9.0%. The remaining exporting countries recorded the following average annual rates of exports growth: the United States (+2.1% per year) and Germany (+6.7% per year).

Export Prices By Country

In 2022, the average aluminium pipe fittings export price amounted to $13,741 per ton, picking up by 4.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2013 an increase of 8.7%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($28,440 per ton), while India ($6,860 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+3.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform