Worldwide Copper Tubes, Pipes and Fittings Market to Reach 5.5M Tons by 2035, Valued at $70.7B - News and Statistics - IndexBox

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IndexBox has just published a new report: World - Copper Tubes, Pipes And Fittings - Market Analysis, Forecast, Size, Trends And Insights.

The market for copper tubes, pipes, and fittings is expected to see continued growth over the next decade, with a forecasted CAGR of +0.5% in volume and +1.7% in value from 2024 to 2035. This trend is anticipated to bring the market volume to 5.5M tons and the market value to $70.7B by the end of 2035, reflecting a positive outlook for the industry.

Driven by increasing demand for copper tubes, pipes and fitting worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.5% for the period from 2024 to 2035, which is projected to bring the market volume to 5.5M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.7% for the period from 2024 to 2035, which is projected to bring the market value to $70.7B (in nominal wholesale prices) by the end of 2035.

In 2024, global consumption of copper tubes, pipes and fitting reached 5.2M tons, remaining constant against 2023 figures. In general, consumption saw a relatively flat trend pattern. Over the period under review, global consumption reached the maximum volume at 5.3M tons in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

The global copper pipe and fitting market value amounted to $59B in 2024, surging by 4.8% 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). The market value increased at an average annual rate of +1.2% over the period from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at $62.3B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

China (1.4M tons) remains the largest copper pipe and fitting consuming country worldwide, comprising approx. 27% of total volume. Moreover, copper pipe and fitting consumption in China exceeded the figures recorded by the second-largest consumer, India (538K tons), threefold. The third position in this ranking was held by the United States (457K tons), with an 8.9% share.

In China, copper pipe and fitting consumption remained relatively stable over the period from 2013-2024. In the other countries, the average annual rates were as follows: India (+3.3% per year) and the United States (-0.2% per year).

In value terms, the largest copper pipe and fitting markets worldwide were China ($14.7B), the United States ($7.5B) and India ($5.9B), together accounting for 47% of the global market. Japan, Indonesia, Brazil, Russia, Mexico, Italy and Germany lagged somewhat behind, together comprising a further 25%.

Among the main consuming countries, Indonesia, with a CAGR of +4.9%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of copper pipe and fitting per capita consumption in 2024 were Italy (2.4 kg per person), Japan (2.1 kg per person) and Germany (1.4 kg per person).

From 2013 to 2024, the biggest increases were recorded for Indonesia (with a CAGR of +2.7%), while consumption for the other global leaders experienced more modest paces of growth.

In 2024, approx. 5.1M tons of copper tubes, pipes and fitting were produced worldwide; picking up by 1.6% compared with the previous year. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 12%. Global production peaked at 5.2M tons in 2022; however, from 2023 to 2024, production failed to regain momentum.

In value terms, copper pipe and fitting production stood at $59.6B in 2024 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 29% against the previous year. Over the period under review, global production reached the maximum level at $62.9B in 2022; however, from 2023 to 2024, production remained at a lower figure.

China (1.7M tons) constituted the country with the largest volume of copper pipe and fitting production, comprising approx. 34% of total volume. Moreover, copper pipe and fitting production in China exceeded the figures recorded by the second-largest producer, India (452K tons), fourfold. The third position in this ranking was taken by the United States (343K tons), with a 6.7% share.

From 2013 to 2024, the average annual rate of growth in terms of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: India (+2.1% per year) and the United States (-1.4% per year).

In 2024, overseas purchases of copper tubes, pipes and fitting decreased by -5.2% to 1.1M tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 16% against the previous year. Global imports peaked at 1.3M tons in 2022; however, from 2023 to 2024, imports failed to regain momentum.

In value terms, copper pipe and fitting imports dropped to $14.4B in 2024. Overall, total imports indicated notable growth from 2013 to 2024: its value increased at an average annual rate of +2.4% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -12.4% against 2022 indices. The most prominent rate of growth was recorded in 2021 with an increase of 44% against the previous year. Over the period under review, global imports reached the peak figure at $16.4B in 2022; however, from 2023 to 2024, imports remained at a lower figure.

In 2024, the United States (150K tons), followed by India (100K tons) represented the major importers of copper tubes, pipes and fitting, together committing 22% of total imports. The following importers - Thailand (49K tons), the UK (44K tons), Turkey (40K tons), Italy (40K tons), France (38K tons), Germany (37K tons), the Netherlands (34K tons) and Spain (32K tons) - together made up 28% of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by India (with a CAGR of +14.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($2.2B) constitutes the largest market for imported copper tubes, pipes and fitting worldwide, comprising 15% of global imports. The second position in the ranking was held by India ($1B), with a 7% share of global imports. It was followed by Germany, with a 4.6% share.

In the United States, copper pipe and fitting imports increased at an average annual rate of +5.6% over the period from 2013-2024. The remaining importing countries recorded the following average annual rates of imports growth: India (+15.7% per year) and Germany (-1.1% per year).

In 2024, tubes and pipes of refined copper (723K tons) represented the largest type of copper tubes, pipes and fitting, comprising 63% of total imports. Tube or pipe fittings, couplings, elbows, sleeves of copper alloys (260K tons) held a 22% share (based on physical terms) of total imports, which put it in second place, followed by tubes and pipes of copper-zinc base alloys (brass) (5%) and tube or pipe fittings, couplings, elbows, sleeves of refined copper (4.7%). Tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver (44K tons) took a relatively small share of total imports.

Tubes and pipes of refined copper was also the fastest-growing in terms of imports, with a CAGR of +1.9% from 2013 to 2024. Tube or pipe fittings, couplings, elbows, sleeves of refined copper and tube or pipe fittings, couplings, elbows, sleeves of copper alloys experienced a relatively flat trend pattern. tubes and pipes of copper-zinc base alloys (brass) (-2.9%) and tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver (-5.6%) illustrated a downward trend over the same period. From 2013 to 2024, the share of tubes and pipes of refined copper increased by +7.9 percentage points. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, the largest types of imported copper tubes, pipes and fitting were tubes and pipes of refined copper ($7.7B), tube or pipe fittings, couplings, elbows, sleeves of copper alloys ($6.3B) and tube or pipe fittings, couplings, elbows, sleeves of refined copper ($1.1B), together comprising 92% of global imports.

Tube or pipe fittings, couplings, elbows, sleeves of copper alloys, with a CAGR of +5.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main imported products over the period under review, while purchases for the other products experienced more modest paces of growth.

The average copper pipe and fitting import price stood at $12,734 per ton in 2024, with an increase of 3.7% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 24% against the previous year. Global import price peaked in 2024 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major imported products. In 2024, the product with the highest price was tube or pipe fittings, couplings, elbows, sleeves of copper alloys ($24,338 per ton), while the price for tubes and pipes of copper-zinc base alloys (brass) ($9,171 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by copper alloy tube or pipe fitting (+5.0%), while the other products experienced more modest paces of growth.

The average copper pipe and fitting import price stood at $12,734 per ton in 2024, with an increase of 3.7% against the previous year. Over the last eleven-year period, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2021 when the average import price increased by 24%. Over the period under review, average import prices attained the peak figure in 2024 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was Germany ($17,815 per ton), while the Netherlands ($8,926 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Germany (+2.6%), while the other global leaders experienced more modest paces of growth.

For the third consecutive year, the global market recorded decline in overseas shipments of copper tubes, pipes and fitting, which decreased by -3.1% to 1.1M tons in 2024. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 16% against the previous year. As a result, the exports attained the peak of 1.3M tons. From 2022 to 2024, the growth of the global exports remained at a lower figure.

In value terms, copper pipe and fitting exports contracted to $14.4B in 2024. In general, total exports indicated a measured expansion from 2013 to 2024: its value increased at an average annual rate of +2.3% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports decreased by -11.9% against 2022 indices. The most prominent rate of growth was recorded in 2021 with an increase of 45% against the previous year. Over the period under review, the global exports reached the maximum at $16.4B in 2022; however, from 2023 to 2024, the exports failed to regain momentum.

China represented the main exporting country with an export of around 365K tons, which accounted for 33% of total exports. Vietnam (107K tons) held a 9.7% share (based on physical terms) of total exports, which put it in second place, followed by Germany (6.3%), Italy (6.2%), Greece (5.4%) and Thailand (5.3%). South Korea (46K tons), Malaysia (37K tons), the United States (36K tons) and Uzbekistan (29K tons) held a relatively small share of total exports.

Exports from China increased at an average annual rate of +3.3% from 2013 to 2024. At the same time, Uzbekistan (+27.8%), Vietnam (+19.6%), Thailand (+5.4%) and Greece (+1.4%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in the world, with a CAGR of +27.8% from 2013-2024. The United States and Malaysia experienced a relatively flat trend pattern. By contrast, Italy (-1.6%), South Korea (-2.8%) and Germany (-5.8%) illustrated a downward trend over the same period. While the share of Vietnam (+8.2 p.p.), China (+7.9 p.p.), Uzbekistan (+2.6 p.p.) and Thailand (+2 p.p.) increased significantly in terms of the global exports from 2013-2024, the share of Italy (-1.9 p.p.), South Korea (-2.1 p.p.) and Germany (-6.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($3.9B) remains the largest copper pipe and fitting supplier worldwide, comprising 27% of global exports. The second position in the ranking was held by Germany ($1.5B), with a 10% share of global exports. It was followed by Italy, with an 8.2% share.

In China, copper pipe and fitting exports increased at an average annual rate of +4.6% over the period from 2013-2024. In the other countries, the average annual rates were as follows: Germany (-1.9% per year) and Italy (+1.3% per year).

Tubes and pipes of refined copper was the largest exported product with an export of around 761K tons, which recorded 68% of total exports. It was distantly followed by tube or pipe fittings, couplings, elbows, sleeves of copper alloys (219K tons), committing a 20% share of total exports. Tubes and pipes of copper-zinc base alloys (brass) (47K tons), tube or pipe fittings, couplings, elbows, sleeves of refined copper (47K tons), tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver (32K tons) and tubes and pipes of copper-nickel base alloys (cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) (17K tons) followed a long way behind the leaders.

Tubes and pipes of refined copper was also the fastest-growing in terms of exports, with a CAGR of +2.2% from 2013 to 2024. At the same time, tube or pipe fittings, couplings, elbows, sleeves of refined copper (+1.2%) displayed positive paces of growth. Tube or pipe fittings, couplings, elbows, sleeves of copper alloys experienced a relatively flat trend pattern. By contrast, tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver (-3.2%), tubes and pipes of copper-zinc base alloys (brass) (-4.1%) and tubes and pipes of copper-nickel base alloys (cupro-nickel) or copper-nickel-zinc base alloys (nickel silver) (-4.8%) illustrated a downward trend over the same period. While the share of tubes and pipes of refined copper (+8.3 p.p.) increased significantly in terms of the global exports from 2013-2024, the share of tubes and pipes of copper alloys other than copper-zinc, cupro-nickel or nickel-silver (-1.7 p.p.), tube or pipe fittings, couplings, elbows, sleeves of copper alloys (-2.1 p.p.) and tubes and pipes of copper-zinc base alloys (brass) (-3.2 p.p.) displayed negative dynamics. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, tubes and pipes of refined copper ($8.2B) remains the largest type of copper tubes, pipes and fitting supplied worldwide, comprising 56% of global exports. The second position in the ranking was taken by tube or pipe fittings, couplings, elbows, sleeves of copper alloys ($4.1B), with a 28% share of global exports. It was followed by tube or pipe fittings, couplings, elbows, sleeves of refined copper, with a 7.5% share.

From 2013 to 2024, the average annual rate of growth in terms of the value of tubes and pipes of refined copper exports totaled +3.8%. With regard to the other exported products, the following average annual rates of growth were recorded: tube or pipe fittings, couplings, elbows, sleeves of copper alloys (+1.8% per year) and tube or pipe fittings, couplings, elbows, sleeves of refined copper (+4.1% per year).

The average copper pipe and fitting export price stood at $13,061 per ton in 2024, approximately reflecting the previous year. Over the last eleven years, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2021 an increase of 25% against the previous year. The global export price peaked at $13,194 per ton in 2023, and then shrank slightly in the following year.

There were significant differences in the average prices amongst the major exported products. In 2024, the product with the highest price was tube or pipe fittings, couplings, elbows, sleeves of refined copper ($23,711 per ton), while the average price for exports of tubes and pipes of refined copper ($10,835 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by copper tube or pipe fitting (+2.8%), while the other products experienced more modest paces of growth.

In 2024, the average copper pipe and fitting export price amounted to $13,061 per ton, remaining stable against the previous year. Over the last eleven-year period, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 25%. The global export price peaked at $13,194 per ton in 2023, and then shrank modestly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($20,921 per ton), while Malaysia ($9,540 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Uzbekistan (+6.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global market for copper pipe and fitting. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

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The Latest Trends and Insights into The Industry

The Largest Importers on The Market and How They Succeed

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The Largest Markets And Their Profiles