GCC: Market for Tube Or Pipe Fittings (Of Iron Or Steel) 2024

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

For the third year in a row, the GCC market for tube or pipe fittings (of iron or steel) recorded decline in sales value, which decreased by X% to $X in 2022. In general, consumption showed a noticeable setback. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

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

In value terms, iron or steel tube fitting production amounted to $X in 2022 estimated in export price. In general, production, however, recorded a deep contraction. The growth pace was the most rapid in 2018 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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

Exports in GCC

In 2022, overseas shipments of tube or pipe fittings (of iron or steel) increased by X% to X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron or steel tube fitting exports surged to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates prevails in exports structure, accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Saudi Arabia (X tons), mixing up an X% share of total exports. Oman (X tons) and Kuwait (X tons) held a minor share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the tube or pipe fittings (of iron or steel) exports, with a CAGR of X% from 2012 to 2022. At the same time, Kuwait (X%) displayed positive paces of growth. By contrast, Oman (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while Oman and Saudi Arabia saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest iron or steel tube fitting supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

In the United Arab Emirates, iron or steel tube fitting exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, growing by X% against the previous year. Export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of X% 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 increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

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

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

Imports in GCC

In 2022, overseas purchases of tube or pipe fittings (of iron or steel) were finally on the rise to reach X tons after five years of decline. Over the period under review, imports, however, showed a pronounced decline. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, iron or steel tube fitting imports fell to $X in 2022. Overall, imports, however, saw a noticeable slump. The pace of growth was the most pronounced in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Oman (X tons) and Qatar (X tons), together generating a X% share of total imports. Kuwait (X tons) and Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Qatar (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Qatar ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Oman, Kuwait and Bahrain lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Oman, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, import prices reached the maximum at $X per ton in 2021, and then dropped modestly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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