Metal Flexible Tubing Market

The article discusses the upward consumption trend for iron or steel flexible tubing worldwide, with forecasts indicating continued growth in market volume and value. Consumption and production figures are analyzed, with notable fluctuations and trends observed over the past decade. The major importing and exporting countries are highlighted, along with key players in the market. Detailed data on consumption, production, imports, exports, prices, and growth rates provide a comprehensive overview of the global iron or steel flexible tubing market.

Market Forecast

Driven by increasing demand for iron or steel flexible tubing worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market volume to 1M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.3% for the period from 2022 to 2030, which is projected to bring the market value to $12.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Iron Or Steel Flexible Tubing

In 2022, the amount of iron or steel flexible tubing consumed worldwide reduced markedly to 799K tons, declining by -18.3% against 2021. Overall, the total consumption indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +9.0% against 2020 indices. As a result, consumption reached the peak volume of 978K tons, and then dropped notably in the following year.

The global metal flexible tubing market revenue shrank rapidly to $9B in 2022, which is down by -16.8% 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, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +6.1% against 2020 indices. As a result, consumption reached the peak level of $10.8B, and then shrank rapidly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Italy (133K tons), China (132K tons) and the United States (106K tons), together comprising 46% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Italy (with a CAGR of +20.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($2.2B) led the market, alone. The second position in the ranking was taken by Japan ($939M). It was followed by Italy.

From 2012 to 2022, the average annual growth rate of value in the United States stood at +9.4%. The remaining consuming countries recorded the following average annual rates of market growth: Japan (+0.5% per year) and Italy (+14.5% per year).

The countries with the highest levels of metal flexible tubing per capita consumption in 2022 were Italy (2,245 kg per 1000 persons), Portugal (1,365 kg per 1000 persons) and Canada (325 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +20.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Iron Or Steel Flexible Tubing

In 2022, approx. 803K tons of iron or steel flexible tubing were produced worldwide; with a decrease of -15.5% compared with the previous year's figure. The total output volume increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when the production volume increased by 40% against the previous year. As a result, production attained the peak volume of 949K tons, and then fell rapidly in the following year.

In value terms, metal flexible tubing production declined rapidly to $8B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% 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 with an increase of 33% against the previous year. As a result, production reached the peak level of $9.8B, and then declined notably in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (209K tons), Italy (130K tons) and the United States (91K tons), together accounting for 54% of global production.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +20.9%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Iron Or Steel Flexible Tubing

Global metal flexible tubing imports declined sharply to 201K tons in 2022, waning by -15.7% on the previous year. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 25%. Over the period under review, global imports attained the maximum at 238K tons in 2021, and then fell significantly in the following year.

In value terms, metal flexible tubing imports declined to $2.3B in 2022. In general, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 28%. Global imports peaked at $2.6B in 2021, and then shrank in the following year.

Imports By Country

In 2022, the United States (24K tons) and India (18K tons) were the major importers of iron or steel flexible tubingin the world, together reaching approx. 21% of total imports. Germany (7.8K tons), Slovakia (6.3K tons), Saudi Arabia (6.2K tons), Japan (6.1K tons), Spain (6.1K tons), Canada (5.9K tons), France (5.7K tons), Italy (5.7K tons), Australia (5.2K tons), Norway (5K tons) and South Korea (5K tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Slovakia (with a CAGR of +18.1%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($252M), Germany ($149M) and India ($111M) were the countries with the highest levels of imports in 2022, with a combined 23% share of global imports.

India, with a CAGR of +17.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 metal flexible tubing import price amounted to $11,315 per ton, rising by 5.5% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 25%. Global import price peaked at $11,373 per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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 ($18,978 per ton), while Slovakia ($2,248 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+5.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Iron Or Steel Flexible Tubing

In 2022, approx. 204K tons of iron or steel flexible tubing were exported worldwide; reducing by -2.5% compared with 2021. The total export volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 34% against the previous year. Over the period under review, the global exports reached the peak figure at 221K tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal flexible tubing exports amounted to $2.4B in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 35%. Over the period under review, the global exports reached the maximum at $2.9B in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports By Country

In 2022, China (80K tons) represented the main exporter of iron or steel flexible tubing, generating 39% of total exports. The UK (16K tons) took a 7.9% share (based on physical terms) of total exports, which put it in second place, followed by Germany (5.4%), India (5.3%) and Denmark (4.9%). The United States (9.1K tons), Turkey (8.9K tons), France (7K tons), Spain (6.7K tons), South Korea (6.6K tons), Vietnam (4.9K tons), the Czech Republic (4.8K tons) and Mexico (4.1K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to metal flexible tubing exports from China stood at +11.3%. At the same time, Denmark (+96.4%), Vietnam (+41.4%), India (+11.9%), Turkey (+8.6%), Mexico (+7.4%), South Korea (+5.2%), the UK (+4.5%), Spain (+4.1%) and the Czech Republic (+2.5%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in the world, with a CAGR of +96.4% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, the United States (-1.5%) and France (-9.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Denmark, India, Vietnam, Turkey and the UK increased by +23, +4.9, +3.2, +2.3, +2.1 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest metal flexible tubing supplying countries worldwide were China ($495M), Germany ($328M) and the United States ($242M), together accounting for 44% of global exports. The UK, France, Turkey, Denmark, the Czech Republic, India, South Korea, Spain, Vietnam and Mexico lagged somewhat behind, together accounting for a further 37%.

Denmark, with a CAGR of +73.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average metal flexible tubing export price stood at $11,719 per ton in 2022, rising by 3% against the previous year. Overall, the export price, however, saw a slight shrinkage. The pace of growth was the most pronounced in 2014 an increase of 4.6% against the previous year. As a result, the export price attained the peak level of $14,523 per ton. From 2015 to 2022, the average export prices remained at a lower figure.

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 ($29,518 per ton), while Mexico ($4,840 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform