Companies Mentioned in the Report: Swagelok Co., J.V. Industrial Cos. Ltd., Egan Company, United States Pipe & Foundry Company, Victaulic Co., Ward Manufacturing, Turner Industries Group, Edelbrock, Corval Group, ASC Engineered Solutions, IFM Efector, Pepperl + Fuchs, Ashcroft, Alfa Laval Inc., Howmet Fastening Systems, Staubli Corporation, NIBCO, Hydrasearch Defense, Watlow, MKS Instruments, ContiTech North America, Lincoln Industrial
NEW YORK, July 07, 2022 (GLOBE NEWSWIRE) -- IndexBox has just published a new report: 'U.S. – Tube or Pipe Fittings (of Iron or Steel) - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
U.S. Steel Pipe Fitting Market Statistics
In 2021, the U.S. market for tube or pipe fittings (of iron or steel) was estimated at $2.6B. This figure reflects the total revenues of producers and importers (excluding logistics costs and intermediaries' margins, which will be included in the final consumer price). REQUEST FREE DATA
U.S. Steel Pipe Fitting Exports
In 2021, after two years of decline, there was significant growth in shipments abroad of fittings, when their volume increased by 13% to 105K tonnes. Over the past decade, the volume of supplies saw a noticeable decrease. REQUEST FREE DATA
In value terms, fitting exports expanded markedly to $1.6B in 2021. Over the last decade, exports showed a slight slump. REQUEST FREE DATA
Canada (54K tonnes) was the main destination for fitting exports from the United States, accounting for a 51% share of total volume. Moreover, supplies to Canada exceeded the volume sent to the second major destination, Mexico (25K tonnes), twofold. The third position in this ranking was occupied by China (2.2K tonnes), with a 2.1% share.
In value terms, Canada ($486M), Mexico ($251M) and China ($112M) were the largest markets for fittings exported from the United States worldwide, together accounting for 52% of total supplies.
Among the main countries of destination, China, with a CAGR of +5.9%, saw the highest growth rate of the value of exports over the past decade. Shipments for the other leaders experienced mixed trend patterns.
The average export price for fittings stood at $15,546 per tonne in 2021, with an increase of 1.9% against the previous year. There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was China, while the average price for exports to Canada was amongst the lowest. From 2011 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.
U.S. Steel Pipe Fitting Imports
After two years of decline, supplies from abroad of fittings increased by 20% to 545K tonnes in 2021. In value terms, purchases soared to $2.1B. Over the past decade, imports saw a relatively flat trend pattern.
China (196K tonnes), India (144K tonnes) and Mexico (30K tonnes) were the main suppliers of fittings to the United States, with a combined 68% share of total imports. Italy, South Korea, Vietnam, Taiwan (Chinese), Malaysia, Thailand, Canada and Germany lagged somewhat behind, together comprising a further 23%.
In value terms, China ($610M) constituted the largest supplier of fittings to the United States, comprising 29% of total imports. The second position in the ranking was occupied by India ($298M), with a 14% share of total purchases. It was followed by Mexico, with a 7.3% share.
From 2011 to 2021, the average annual growth rate of value from China stood at -1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+1.5% per year) and Mexico (+3.5% per year).
In 2021, the average import price for fittings amounted to $3,886 per tonne, with an increase of 7.1% against the previous year. Prices varied noticeably by the country of origin: the country with the highest price was Germany, while the price for Malaysia was amongst the lowest. From 2011 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.
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Fittings, flanges and unions for piping systems (of iron or steel).
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