Iron Or Steel Pipe And Tube Market

The article provides a comprehensive analysis of the global market for tubes, pipes, and hollow profiles (of iron or steel), forecasting an anticipated increase in consumption and market value over the period from 2022 to 2030. Key insights include consumption trends, production volumes, import and export patterns, as well as detailed information on the top countries in terms of consumption, production, imports, and exports. The data highlights key trends in the industry and offers valuable information for stakeholders in the steel and construction sectors.

Market Forecast

Driven by increasing demand for tubes, pipes and hollow profiles (of iron or steel) worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.5% for the period from 2022 to 2030, which is projected to bring the market volume to 116M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.3% for the period from 2022 to 2030, which is projected to bring the market value to $234.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

In 2022, consumption of tubes, pipes and hollow profiles (of iron or steel) decreased by -0.1% to 103M tons, falling for the third consecutive year after three years of growth. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, global consumption of reached the maximum volume at 107M tons in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

The size of the market for tubes, pipes and hollow profiles (of iron or steel) worldwide expanded to $181.7B in 2022, with an increase of 4.1% 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 +1.6% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Global consumption peaked in 2022 and is likely to see gradual growth in the near future.

Consumption By Country

China (31M tons) constituted the country with the largest volume of consumption of tubes, pipes and hollow profiles (of iron or steel), accounting for 30% 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, Russia (10M tons), threefold. The third position in this ranking was held by the United States (8.9M tons), with an 8.7% share.

In China, consumption of tubes, pipes and hollow profiles (of iron or steel) increased at an average annual rate of +1.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (+0.8% per year) and the United States (-2.6% per year).

In value terms, China ($39B), Finland ($30.1B) and the United States ($16B) were the countries with the highest levels of market value in 2022, together accounting for 47% of the global market.

Finland, with a CAGR of +15.3%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while steel) for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of per capita consumption of tubes, pipes and hollow profiles (of iron or steel) was registered in Finland (648 kg per person), followed by Russia (72 kg per person), Canada (57 kg per person) and Italy (49 kg per person), while the world average per capita consumption of iron or steel pipe and tube was estimated at 13 kg per person.

In Finland, per capita consumption of tubes, pipes and hollow profiles (of iron or steel) expanded at an average annual rate of +15.0% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Russia (+0.7% per year) and Canada (+4.1% per year).

Production

World Production of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

In 2022, approx. 104M tons of tubes, pipes and hollow profiles (of iron or steel) were produced worldwide; approximately mirroring the year before. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 8.2%. Over the period under review, global production of attained the maximum volume at 107M tons in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In value terms, production of tubes, pipes and hollow profiles (of iron or steel) reduced to $159.7B in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 27% against the previous year. Global production peaked at $201.7B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

China (39M tons) constituted the country with the largest volume of production of tubes, pipes and hollow profiles (of iron or steel), accounting for 38% 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, Russia (11M tons), threefold. India (8.5M tons) ranked third in terms of total production with an 8.2% share.

In China, production of tubes, pipes and hollow profiles (of iron or steel) expanded at an average annual rate of +1.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (+1.6% per year) and India (+6.6% per year).

Imports

World Imports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

In 2022, overseas purchases of tubes, pipes and hollow profiles (of iron or steel) increased by 4.4% to 35M tons, rising for the second year in a row after three years of decline. Overall, imports, however, recorded a pronounced slump. The pace of growth was the most pronounced in 2017 when imports increased by 19%. Global imports peaked at 45M tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of tubes, pipes and hollow profiles (of iron or steel) skyrocketed to $66.7B in 2022. In general, imports, however, showed a slight descent. Global imports peaked at $78.7B in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, the United States (5.6M tons), distantly followed by Germany (2.1M tons) and Canada (1.7M tons) represented the largest importers of tubes, pipes and hollow profiles (of iron or steel), together mixing up 27% of total imports. France (1,141K tons), Poland (908K tons), Indonesia (799K tons), Italy (779K tons), the United Arab Emirates (739K tons), the Netherlands (732K tons), Australia (649K tons), Kuwait (632K tons), Thailand (605K tons) and Turkey (562K tons) held a minor share of total imports.

Imports into the United States decreased at an average annual rate of -3.4% from 2012 to 2022. At the same time, Turkey (+4.4%), Poland (+3.9%) and Kuwait (+2.5%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in the world, with a CAGR of +4.4% from 2012-2022. Italy, Germany and France experienced a relatively flat trend pattern. By contrast, the Netherlands (-1.3%), Thailand (-1.7%), Canada (-2.1%), Indonesia (-4.0%), Australia (-5.5%) and the United Arab Emirates (-6.3%) illustrated a downward trend over the same period. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($11.1B) constitutes the largest market for imported tubes, pipes and hollow profiles (of iron or steel) worldwide, comprising 17% of global imports. The second position in the ranking was held by Germany ($4.3B), with a 6.4% share of global imports. It was followed by Canada, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at -1.6%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+2.0% per year) and Canada (-0.8% per year).

Imports By Type

Tubes, pipes and hollow profiles (eg open seam or welded, riveted or similarly closed), of iron or steel (18M tons) and tubes, pipes and hollow profiles, seamless, of iron (other than cast iron) or steel (12M tons) prevails in steel) structure, together creating 88% of total imports. It was distantly followed by tubes and pipes (eg welded, riveted or similarly closed), internal and external circular cross-sections, external diameter of which exceeds 406.4mm, of iron or steel (2.8M tons), creating an 8.1% share of total imports. Tubes, pipes and hollow profiles, of cast iron (1.4M tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for tubes, pipes and hollow profiles (eg open seam or welded, riveted or similarly closed), of iron or steel (with a CAGR of +0.2%), while purchases for the other products experienced a decline in the imports figures.

In value terms, the largest types of imported tubes, pipes and hollow profiles (of iron or steel) were tubes, pipes and hollow profiles (eg open seam or welded, riveted or similarly closed), of iron or steel ($31.5B), tubes, pipes and hollow profiles, seamless, of iron (other than cast iron) or steel ($28.4B) and tubes and pipes (eg welded, riveted or similarly closed), internal and external circular cross-sections, external diameter of which exceeds 406.4mm, of iron or steel ($4.9B), together comprising 97% of global imports.

Among the main imported products, tubes, pipes and hollow profiles (eg open seam or welded, riveted or similarly closed), of iron or steel, with a CAGR of +2.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other products experienced a decline in the imports figures.

Import Prices By Type

The average import price for tubes, pipes and hollow profiles (of iron or steel) stood at $1,932 per ton in 2022, increasing by 18% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was tubes, pipes and hollow profiles, seamless, of iron (other than cast iron) or steel ($2,316 per ton), while the price for tubes, pipes and hollow profiles, of cast iron ($1,376 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by tubes, pipes and hollow profiles (eg open seam or welded, riveted or similarly closed), of iron or steel (+1.9%), while the other products experienced more modest paces of growth.

Import Prices By Country

The average import price for tubes, pipes and hollow profiles (of iron or steel) stood at $1,932 per ton in 2022, rising by 18% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 ($2,041 per ton), while Kuwait ($1,265 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+2.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Tubes, Pipes And Hollow Profiles (Of Iron Or Steel)

In 2022, overseas shipments of tubes, pipes and hollow profiles (of iron or steel) increased by 4.9% to 36M tons, rising for the second year in a row after three years of decline. Overall, exports, however, saw a noticeable downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 27% against the previous year. Over the period under review, the global exports of reached the maximum at 47M tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of tubes, pipes and hollow profiles (of iron or steel) soared to $71.2B in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 30% against the previous year. The global exports peaked at $77.5B in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

China was the key exporting country with an export of around 9.1M tons, which resulted at 25% of total exports. Italy (3.1M tons) held the second position in the ranking, followed by Turkey (2.2M tons), Germany (2M tons) and South Korea (1.8M tons). All these countries together took near 25% share of total exports. Russia (1,328K tons), India (1,273K tons), Japan (1,043K tons), Mexico (912K tons), the United States (867K tons), Spain (845K tons), Canada (765K tons) and Romania (688K tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of tubes, pipes and hollow profiles (of iron or steel). At the same time, Romania (+2.0%), Spain (+1.8%) and Turkey (+1.5%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing exporter exported in the world, with a CAGR of +2.0% from 2012-2022. Russia and Italy experienced a relatively flat trend pattern. By contrast, Canada (-4.0%), South Korea (-4.2%), Mexico (-4.5%), India (-4.9%), Germany (-5.2%), the United States (-8.1%) and Japan (-9.8%) illustrated a downward trend over the same period. While the share of China (+4.8 p.p.), Turkey (+2 p.p.) and Italy (+1.7 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Germany (-1.7 p.p.), the United States (-1.9 p.p.) and Japan (-3.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($16.4B) remains the largest iron or steel pipe and tube supplier worldwide, comprising 23% of global exports. The second position in the ranking was taken by Italy ($6.8B), with a 9.5% share of global exports. It was followed by Germany, with a 7.4% share.

In China, exports of tubes, pipes and hollow profiles (of iron or steel) increased at an average annual rate of +3.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Italy (+1.7% per year) and Germany (-3.2% per year).

Exports By Type

Tubes, pipes and hollow profiles (eg open seam or welded, riveted or similarly closed), of iron or steel was the key type of tubes, pipes and hollow profiles (of iron or steel) in the world, with the volume of exports recording 19M tons, which was near 52% of total exports in 2022. Tubes, pipes and hollow profiles, seamless, of iron (other than cast iron) or steel (12M tons) held a 34% share (based on physical terms) of total exports, which put it in second place, followed by tubes and pipes (eg welded, riveted or similarly closed), internal and external circular cross-sections, external diameter of which exceeds 406.4mm, of iron or steel (11%). Tubes, pipes and hollow profiles, of cast iron (1.3M tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for tubes, pipes and hollow profiles (eg open seam or welded, riveted or similarly closed), of iron or steel (with a CAGR of -0.3%), while shipments for the other products experienced a decline in the exports figures.

In value terms, tubes, pipes and hollow profiles (eg open seam or welded, riveted or similarly closed), of iron or steel ($35.1B), tubes, pipes and hollow profiles, seamless, of iron (other than cast iron) or steel ($28.4B) and tubes and pipes (eg welded, riveted or similarly closed), internal and external circular cross-sections, external diameter of which exceeds 406.4mm, of iron or steel ($5.9B) were the products with the highest levels of exports in 2022, with a combined 98% share of global exports.

In terms of the main exported products, tubes, pipes and hollow profiles (eg open seam or welded, riveted or similarly closed), of iron or steel, with a CAGR of +3.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other products experienced mixed trends in the exports figures.

Export Prices By Type

In 2022, the average export price for tubes, pipes and hollow profiles (of iron or steel) amounted to $1,969 per ton, growing by 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2021 an increase of 22% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by the product type; the product with the highest price was tubes, pipes and hollow profiles, seamless, of iron (other than cast iron) or steel ($2,321 per ton), while the average price for exports of tubes, pipes and hollow profiles, of cast iron ($1,297 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by tubes, pipes and hollow profiles (eg open seam or welded, riveted or similarly closed), of iron or steel (+3.5%), while the other products experienced more modest paces of growth.

Export Prices By Country

In 2022, the average export price for tubes, pipes and hollow profiles (of iron or steel) amounted to $1,969 per ton, picking up by 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2021 an increase of 22% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

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 Japan ($3,271 per ton), while Russia ($1,096 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform