The revenue of the market for tubes, pipes and hollow profiles (of iron or steel) worldwide amounted to $124.6 billion in 2018, rising by 3.9 per cent against the previous year, according to a new report by IndexBox.

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), noted the report titled: `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:

CONSUMPTION BY COUNTRY

At 23m tonnes, China constituted the country with the largest volume of consumption of tubes, pipes and hollow profiles (of iron or steel), comprising approx. 21 per cent 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 per cent 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 per cent 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

At 30m tonnes, China remains the largest iron or steel pipe and tube producing country worldwide, comprising approx. 28 per cent 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 per cent 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 cent per year) and Russia (+2.0 per cent per year).

EXPORTS 2007-2018

Global exports totaled 45m tonnes in 2018, growing by 7.3 per cent 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 per cent 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 $58.4 billion in 2018, according to IndexBox estimates.

EXPORTS BY COUNTRY

In 2018, China at 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 per cent 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 per cent 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 per cent), Mexico (+7.9 per cent), Russia (+6.7 per cent), Turkey (+2.3 per cent) and India (+2.3 per cent) displayed positive paces of growth. Italy and Austria experienced a relatively flat trend pattern.

By contrast, Canada (-1.4 per cent), Germany (-2.0 per cent), the US (-2.6 per cent) and Japan (-3.8 per cent) 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 per cent 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 US ($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 per cent 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 US (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 21per cent 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 UEA (899k tonnes) and the Netherlands (876j tonnes) held a little share of total imports.

In value terms, the US ($10 billion) constitutes the largest market for imported tubes, pipes and hollow profiles (of iron or steel) worldwide, comprising 16 per cent of global imports. The second position in the ranking was occupied by Germany ($3.4 billion), with a 5.4 per cent share of global imports. It was followed by Australia, with a 4.1 per cent 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 per cent 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 UAE ($1,205 per tonne) was amongst the lowest.