Price for Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in the Philippines - 2024
Contents:
- Price for Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in the Philippines (CIF) - 2022
- Price for Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in the Philippines (FOB) - 2022
- Imports of Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in the Philippines
- Exports of Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in the Philippines
Price for Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in the Philippines (CIF) - 2022
The average import price for tube or pipe butt welding fittings, other than stainless steels stood at $3,399 per ton in 2022, with an increase of 7.4% against the previous year. In general, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for tube or pipe butt welding fittings, other than stainless steels increased by +43.8% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by 105%. The import price peaked at $3,546 per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($31,033 per ton), while the price for Taiwan (Chinese) ($1,131 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in the Philippines (FOB) - 2022
In 2022, the average export price for tube or pipe butt welding fittings, other than stainless steels amounted to $4,386 per ton, rising by 38% against the previous year. Over the period under review, the export price saw a moderate expansion. The pace of growth was the most pronounced in 2015 an increase of 49% against the previous year. Over the period under review, the average export prices hit record highs at $48,286 per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Thailand.
From 2014 to 2022, the rate of growth in terms of prices for Thailand amounted to +38.4% per year.
Imports of Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in the Philippines
For the fourth year in a row, the Philippines recorded growth in purchases abroad of tube or pipe butt welding fittings, other than stainless steels, which increased by 62% to 5.2K tons in 2022. In general, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of tube or pipe butt welding fittings, other than stainless steels skyrocketed to $18M in 2022. Over the period under review, imports posted a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.3 | 1.6 | 1.6 | 4.9 | 14.1% |
| Singapore | 0.4 | 0.4 | 3.5 | 4.5 | 124.1% |
| Taiwan (Chinese) | 0.4 | 1.5 | 1.6 | 3.7 | 109.9% |
| South Korea | 0.4 | 0.6 | 0.1 | 0.3 | -9.1% |
| Thailand | 0.6 | 0.1 | N/A | N/A | -83.3% |
| Others | 2.3 | 1.9 | 3.3 | 4.1 | 21.3% |
| Total | 7.4 | 6.2 | 10.1 | 17.5 | 33.2% |
Top Suppliers of Tube or Pipe Butt Welding Fittings, Other than Stainless Steel to the Philippines in 2022:
- Taiwan (Chinese) (3236.5 tons)
- China (1371.8 tons)
- Singapore (145.0 tons)
- South Korea (121.1 tons)
- Thailand (10.7 tons)
Exports of Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in the Philippines
In 2022, after three years of growth, there was significant decline in overseas shipments of tube or pipe butt welding fittings, other than stainless steels, when their volume decreased by -89.9% to 368 tons. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 93,200%. As a result, the exports reached the peak of 3.6K tons, and then fell notably in the following year.
In value terms, exports of tube or pipe butt welding fittings, other than stainless steels contracted sharply to $1.6M in 2022. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 20,268%. As a result, the exports reached the peak of $12M, and then reduced remarkably in the following year.
| Export of Tube or Pipe Butt Welding Fittings, Other than Stainless Steel in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | N/A | N/A | 11.6 | 1.6 | -86.2% |
| Others | 0.1 | 0.1 | N/A | N/A | 0.0% |
| Total | 0.1 | 0.1 | 11.6 | 1.6 | 152.0% |
Top Export Markets for Tube or Pipe Butt Welding Fittings, Other than Stainless Steel from the Philippines in 2022:
- Thailand (366.9 tons)
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