ASEAN: Check Valve Market 2024

Check Valve Market Size in ASEAN

In 2021, after five years of growth, there was significant decline in the ASEAN check valve market, when its value decreased by -31.1% to $X. Over the period under review, consumption, however, posted a pronounced increase. As a result, consumption attained the peak level of $X, and then declined markedly in the following year.

Check Valve Production in ASEAN

In value terms, check valve production contracted remarkably to $X in 2021 estimated in export price. Overall, production, however, showed a buoyant expansion. The growth pace was the most rapid in 2020 with an increase of 138%. As a result, production attained the peak level of $X, and then shrank dramatically in the following year.

Check Valve Exports

Exports in ASEAN

In 2021, after two years of decline, there was significant growth in overseas shipments of check valves for pipes, boiler shells, tanks and vats, when their volume increased by 27% to X units. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, check valve exports rose sharply to $X in 2021. The total export value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 25%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Indonesia (X units) and Thailand (X units) were the largest exporters of check valves for pipes, boiler shells, tanks and vats in ASEAN, together mixing up 84% of total exports. It was distantly followed by Singapore (X units), mixing up an 11% share of total exports. Malaysia (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +4.5%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Singapore ($X), Indonesia ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 87% share of total exports.

Indonesia, with a CAGR of +5.6%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, falling by -12.9% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the export price increased by 24%. As a result, the export price attained the peak level of $X per unit, and then reduced in the following year.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+9.3%), while the other leaders experienced more modest paces of growth.

Check Valve Imports

Imports in ASEAN

In 2021, check valve imports in ASEAN fell markedly to X units, reducing by -31.6% on the year before. Total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +36.2% against 2017 indices. The most prominent rate of growth was recorded in 2020 with an increase of 77%. As a result, imports attained the peak of X units, and then fell dramatically in the following year.

In value terms, check valve imports reduced to $X in 2021. In general, imports recorded a slight descent. The most prominent rate of growth was recorded in 2013 with an increase of 17% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Thailand represented the key importer of check valves for pipes, boiler shells, tanks and vats in ASEAN, with the volume of imports reaching X units, which was near 41% of total imports in 2021. Malaysia (X units) held a 24% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (14%), Singapore (9.8%) and Vietnam (4.6%). Myanmar (X units) and the Philippines (X units) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Myanmar (with a CAGR of +14.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest check valve importing markets in ASEAN were Singapore ($X), Thailand ($X) and Malaysia ($X), together comprising 70% of total imports. Vietnam, Indonesia, the Philippines and Myanmar lagged somewhat behind, together comprising a further 29%.

The Philippines, with a CAGR of +9.1%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2021, picking up by 29% against the previous year. Overall, the import price, however, showed a perceptible contraction. Over the period under review, import prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Singapore ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+15.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform