ASEAN: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in ASEAN

The ASEAN pressure-reducing iron valve market expanded rapidly to $X in 2022, increasing by 6% against the previous year. Over the period under review, consumption, however, saw a tangible increase. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Pressure-Reducing Iron Valve Production in ASEAN

In value terms, pressure-reducing iron valve production expanded sharply to $X in 2022 estimated in export price. In general, production posted a strong increase. The growth pace was the most rapid in 2019 when the production volume increased by 111% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Pressure-Reducing Iron Valve Exports

Exports in ASEAN

In 2022, approx. X units of pressure-reducing, control, check and safety valves were exported in ASEAN; picking up by 33% on the previous year. The total export volume increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, pressure-reducing iron valve exports skyrocketed to $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +75.0% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of 23% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Indonesia was the key exporter of pressure-reducing, control, check and safety valves in ASEAN, with the volume of exports finishing at X units, which was near 39% of total exports in 2022. Thailand (X units) ranks second in terms of the total exports with a 19% share, followed by Singapore (18%), Malaysia (16%) and Vietnam (6.4%).

From 2012 to 2022, average annual rates of growth with regard to pressure-reducing iron valve exports from Indonesia stood at +9.2%. At the same time, Vietnam (+12.2%), Thailand (+6.2%) and Singapore (+1.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +12.2% from 2012-2022. By contrast, Malaysia (-2.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, Vietnam and Thailand increased by +14, +3.3 and +2.8 percentage points, respectively.

In value terms, the largest pressure-reducing iron valve supplying countries in ASEAN were Singapore ($X), Indonesia ($X) and Thailand ($X), together comprising 74% of total exports. Malaysia and Vietnam lagged somewhat behind, together comprising a further 24%.

Vietnam, with a CAGR of +21.4%, recorded the highest growth rate of the value of exports, in terms of 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

In 2022, the export price in ASEAN amounted to $X per unit, waning by -9.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2017 when the export price increased by 20% against the previous year. The level of export peaked at $X per unit in 2021, and then shrank in the following year.

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 Singapore ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+8.2%), while the other leaders experienced more modest paces of growth.

Pressure-Reducing Iron Valve Imports

Imports in ASEAN

In 2022, imports of pressure-reducing, control, check and safety valves in ASEAN declined slightly to X units, with a decrease of -4.2% compared with the year before. Overall, imports recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 83%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, pressure-reducing iron valve imports declined slightly to $X in 2022. In general, imports showed a slight setback. The most prominent rate of growth was recorded in 2014 with an increase of 153%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Thailand (X units), Malaysia (X units), Indonesia (X units) and Singapore (X units) represented roughly 85% of total imports in 2022. It was distantly followed by Vietnam (X units), committing a 5.7% share of total imports. The following importers - Myanmar (X units) and Lao People's Democratic Republic (X units) - together made up 6.5% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Myanmar (with a CAGR of +12.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Thailand ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2022, together accounting for 71% of total imports. Indonesia, Vietnam, Lao People's Democratic Republic and Myanmar lagged somewhat behind, together accounting for a further 23%.

Among the main importing countries, Lao People's Democratic Republic, with a CAGR of +5.5%, 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.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, with an increase of 2.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2014 an increase of 38%. Over the period under review, import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform