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Jun 11, 2025

Latin America and the Caribbean's Iron or Steel Tube or Pipe Fittings Market to Exhibit Strong Growth with +2.8% CAGR - News and Statistics - IndexBox

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform. IndexBox has just published a new report: Latin America and the Caribbean - Tube Or Pipe Fittings

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IndexBox has just published a new report: Latin America and the Caribbean - Tube Or Pipe Fittings (Of Iron Or Steel) - Market Analysis, Forecast, Size, Trends and Insights.

Driven by growing demand for tube or pipe fittings of iron or steel, the market in Latin America and the Caribbean is set to see substantial growth over the next decade. Projections indicate a significant increase in market volume and value, with a forecasted CAGR of +2.8% and +3.3% respectively from 2024 to 2035. By the end of 2035, it is estimated that the market volume will reach 660K tons and the market value will reach $5.3B.

Driven by increasing demand for tube or pipe fittings (of iron or steel) in Latin America and the Caribbean, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.8% for the period from 2024 to 2035, which is projected to bring the market volume to 660K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.3% for the period from 2024 to 2035, which is projected to bring the market value to $5.3B (in nominal wholesale prices) by the end of 2035.

In 2024, consumption of tube or pipe fittings (of iron or steel) decreased by -1.5% to 486K tons, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, showed a relatively flat trend pattern. The volume of consumption peaked at 512K tons in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

The value of the market for tube or pipe fittings (of iron or steel) in Latin America and the Caribbean rose to $3.7B in 2024, increasing by 2.2% 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 +2.3% over the period from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $4B. From 2023 to 2024, the growth of the market remained at a lower figure.

The countries with the highest volumes of consumption in 2024 were Brazil (260K tons), Mexico (157K tons) and Chile (13K tons), together accounting for 88% of total consumption. Peru and Argentina lagged somewhat behind, together comprising a further 3.6%.

From 2013 to 2024, the biggest increases were recorded for Argentina (with a CAGR of +11.0%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel tube fitting markets in Latin America and the Caribbean were Brazil ($2.1B), Mexico ($1.1B) and Argentina ($83M), together accounting for 90% of the total market.

Argentina, with a CAGR of +12.8%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other leaders experienced more modest paces of growth.

The countries with the highest levels of iron or steel tube fitting per capita consumption in 2024 were Brazil (1,192 kg per 1000 persons), Mexico (1,172 kg per 1000 persons) and Chile (664 kg per 1000 persons).

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Argentina (with a CAGR of +10.0%), while consumption for the other leaders experienced mixed trends in the per capita consumption figures.

In 2024, approx. 346K tons of tube or pipe fittings (of iron or steel) were produced in Latin America and the Caribbean; picking up by 4.8% against the previous year. The total output volume increased at an average annual rate of +2.2% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when the production volume increased by 30% against the previous year. Over the period under review, production reached the maximum volume at 362K tons in 2022; however, from 2023 to 2024, production stood at a somewhat lower figure.

In value terms, iron or steel tube fitting production amounted to $2.8B in 2024 estimated in export price. The total production indicated noticeable growth from 2013 to 2024: its value increased at an average annual rate of +4.4% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -8.1% against 2022 indices. The growth pace was the most rapid in 2022 with an increase of 48%. As a result, production attained the peak level of $3B. From 2023 to 2024, production growth failed to regain momentum.

The countries with the highest volumes of production in 2024 were Brazil (206K tons) and Mexico (140K tons).

From 2013 to 2024, the biggest increases were recorded for Mexico (with a CAGR of +2.7%).

In 2024, overseas purchases of tube or pipe fittings (of iron or steel) decreased by -10% to 203K tons for the first time since 2020, thus ending a three-year rising trend. Overall, imports recorded a mild decrease. The pace of growth appeared the most rapid in 2021 when imports increased by 27%. The volume of import peaked at 228K tons in 2013; however, from 2014 to 2024, imports remained at a lower figure.

In value terms, iron or steel tube fitting imports contracted modestly to $1.8B in 2024. Total imports indicated a mild increase from 2013 to 2024: its value increased at an average annual rate of +1.2% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports increased by +60.3% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 25%. Over the period under review, imports reached the peak figure at $1.8B in 2023, and then shrank modestly in the following year.

Brazil (62K tons) and Mexico (59K tons) were the main importers of tube or pipe fittings (of iron or steel) in 2024, finishing at approx. 30% and 29% of total imports, respectively. It was distantly followed by Colombia (15K tons), Chile (13K tons) and Peru (11K tons), together comprising a 19% share of total imports. Argentina (8.9K tons), Ecuador (6K tons) and the Dominican Republic (3.8K tons) held a minor share of total imports.

From 2013 to 2024, the biggest increases were recorded for the Dominican Republic (with a CAGR of +12.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel tube fitting importing markets in Latin America and the Caribbean were Mexico ($756M), Brazil ($478M) and Argentina ($98M), with a combined 75% share of total imports. Colombia, Chile, Peru, Ecuador and the Dominican Republic lagged somewhat behind, together accounting for a further 16%.

In terms of the main importing countries, the Dominican Republic, with a CAGR of +10.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

The imports of the eight major types of tube or pipe fittings (of iron or steel), namely tube or pipe flanges other than stainless steel, tube or pipe fittings of non-stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings, iron or steel cast fittings, other than of non-malleable cast iron, tube or pipe threaded elbows, bends and sleeves other than of stainless steel, iron or steel cast fittings of non-malleable cast iron, tube or pipe butt welding fittings other than of stainless steel, tube or pipe flanges of stainless steel and tube or pipe fittings of stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings, represented more than two-thirds of total import.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the key imported products, was attained by iron or steel cast fittings of non-malleable cast iron (with a CAGR of +8.8%), while imports for the other products experienced more modest paces of growth.

In value terms, the largest types of imported tube or pipe fittings (of iron or steel) were tube or pipe fittings of non-stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings ($501M), tube or pipe threaded elbows, bends and sleeves other than of stainless steel ($268M) and tube or pipe fittings of stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings ($244M), with a combined 57% share of total imports. Tube or pipe flanges other than stainless steel, iron or steel cast fittings, other than of non-malleable cast iron, tube or pipe flanges of stainless steel, tube or pipe threaded elbows, bends and sleeves of stainless steel, iron or steel cast fittings of non-malleable cast iron, tube or pipe butt welding fittings other than of stainless steel and tube or pipe butt welding fittings of stainless steel lagged somewhat behind, together accounting for a further 43%.

Iron or steel cast fittings of non-malleable cast iron, with a CAGR of +5.7%, recorded the highest rates of growth with regard to the value of imports, among the main imported products over the period under review, while purchases for the other products experienced more modest paces of growth.

The import price in Latin America and the Caribbean stood at $8,778 per ton in 2024, surging by 10% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2022 an increase of 18%. Over the period under review, import prices attained the maximum in 2024 and is likely to continue growth in years to come.

Prices varied noticeably by the product type; the product with the highest price was tube or pipe fittings of stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings ($26,220 per ton), while the price for iron or steel cast fittings of non-malleable cast iron ($3,236 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by tube or pipe fittings of stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings (+5.6%), while the other products experienced more modest paces of growth.

In 2024, the import price in Latin America and the Caribbean amounted to $8,778 per ton, rising by 10% against the previous year. Over the last eleven years, it increased at an average annual rate of +2.2%. The pace of growth appeared the most rapid in 2022 an increase of 18%. Over the period under review, import prices hit record highs in 2024 and is likely to continue 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 Mexico ($12,825 per ton), while Ecuador ($4,339 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Mexico (+5.2%), while the other leaders experienced more modest paces of growth.

In 2024, iron or steel tube fitting exports in Latin America and the Caribbean stood at 63K tons, approximately reflecting the previous year. In general, exports enjoyed a notable expansion. The pace of growth appeared the most rapid in 2021 with an increase of 101% against the previous year. Over the period under review, the exports attained the peak figure at 67K tons in 2022; however, from 2023 to 2024, the exports stood at a somewhat lower figure.

In value terms, iron or steel tube fitting exports amounted to $479M in 2024. Total exports indicated a temperate increase from 2013 to 2024: its value increased at an average annual rate of +4.0% 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 -3.6% against 2022 indices. The most prominent rate of growth was recorded in 2021 with an increase of 45%. Over the period under review, the exports reached the peak figure at $497M in 2022; however, from 2023 to 2024, the exports remained at a lower figure.

In 2024, Mexico (42K tons) was the key exporter of tube or pipe fittings (of iron or steel), mixing up 66% of total exports. Colombia (10K tons) held the second position in the ranking, followed by Brazil (7.6K tons). All these countries together held near 28% share of total exports. The following exporters - Peru (1.1K tons) and Argentina (1K tons) - each finished at a 3.3% share of total exports.

From 2013 to 2024, average annual rates of growth with regard to iron or steel tube fitting exports from Mexico stood at +2.6%. At the same time, Colombia (+28.0%) and Peru (+4.9%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +28.0% from 2013-2024. By contrast, Brazil (-3.6%) and Argentina (-10.8%) illustrated a downward trend over the same period. While the share of Colombia (+15 p.p.) and Mexico (+3.2 p.p.) increased significantly in terms of the total exports from 2013-2024, the share of Argentina (-5.4 p.p.) and Brazil (-10.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($318M) remains the largest iron or steel tube fitting supplier in Latin America and the Caribbean, comprising 66% of total exports. The second position in the ranking was held by Brazil ($66M), with a 14% share of total exports. It was followed by Colombia, with a 13% share.

From 2013 to 2024, the average annual rate of growth in terms of value in Mexico stood at +5.6%. In the other countries, the average annual rates were as follows: Brazil (-1.1% per year) and Colombia (+29.3% per year).

In 2024, tube or pipe threaded elbows, bends and sleeves other than of stainless steel (32K tons) was the largest type of tube or pipe fittings (of iron or steel), committing 50% of total exports. Tube or pipe fittings of non-stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings (12K tons) ranks second in terms of the total exports with a 19% share, followed by iron or steel cast fittings, other than of non-malleable cast iron (12%), iron or steel cast fittings of non-malleable cast iron (5.7%) and tube or pipe butt welding fittings other than of stainless steel (4.8%). Tube or pipe flanges other than stainless steel (1.7K tons) and tube or pipe fittings of stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings (1.4K tons) followed a long way behind the leaders.

Tube or pipe threaded elbows, bends and sleeves other than of stainless steel was also the fastest-growing in terms of exports, with a CAGR of +13.5% from 2013 to 2024. At the same time, tube or pipe fittings of stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings (+5.0%) displayed positive paces of growth. Tube or pipe fittings of non-stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings and tube or pipe flanges other than stainless steel experienced a relatively flat trend pattern. By contrast, iron or steel cast fittings, other than of non-malleable cast iron (-3.0%), iron or steel cast fittings of non-malleable cast iron (-7.0%) and tube or pipe butt welding fittings other than of stainless steel (-7.2%) illustrated a downward trend over the same period. Tube or pipe threaded elbows, bends and sleeves other than of stainless steel (+35 p.p.) significantly strengthened its position in terms of the total exports, while tube or pipe fittings of non-stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings, tube or pipe butt welding fittings other than of stainless steel, iron or steel cast fittings, other than of non-malleable cast iron and iron or steel cast fittings of non-malleable cast iron saw its share reduced by -3.9%, -9%, -9.1% and -10.3% from 2013 to 2024, respectively. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, tube or pipe threaded elbows, bends and sleeves other than of stainless steel ($227M) remains the largest type of tube or pipe fittings (of iron or steel) supplied in Latin America and the Caribbean, comprising 47% of total exports. The second position in the ranking was held by tube or pipe fittings of non-stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings ($84M), with an 18% share of total exports. It was followed by iron or steel cast fittings, other than of non-malleable cast iron, with a 12% share.

From 2013 to 2024, the average annual rate of growth in terms of the value of tube or pipe threaded elbows, bends and sleeves other than of stainless steel exports stood at +11.5%. For the other products, the average annual rates were as follows: tube or pipe fittings of non-stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings (+1.4% per year) and iron or steel cast fittings, other than of non-malleable cast iron (+0.3% per year).

The export price in Latin America and the Caribbean stood at $7,576 per ton in 2024, remaining relatively unchanged against the previous year. Over the last eleven-year period, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2015 when the export price increased by 23%. The level of export peaked at $8,913 per ton in 2020; however, from 2021 to 2024, the export prices remained at a lower figure.

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 of stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings ($26,478 per ton), while the average price for exports of tube or pipe butt welding fittings other than of stainless steel ($3,729 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by tube or pipe flanges of stainless steel (+3.8%), while the other products experienced more modest paces of growth.

In 2024, the export price in Latin America and the Caribbean amounted to $7,576 per ton, remaining relatively unchanged against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2015 when the export price increased by 23%. Over the period under review, the export prices attained the maximum at $8,913 per ton in 2020; however, from 2021 to 2024, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Argentina ($11,398 per ton), while Colombia ($6,082 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Mexico (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for iron or steel tube fitting in Latin America and the Caribbean. 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.

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

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Export

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles

The Largest Markets And Their Profiles