Asia-Pacific: Check Valve Market 2024

Check Valve Market Size in Asia-Pacific

In 2021, after six years of growth, there was significant decline in the Asia-Pacific check valve market, when its value decreased by -29.3% to $X. Overall, consumption, however, recorded resilient growth. As a result, consumption attained the peak level of $X, and then shrank significantly in the following year.

Check Valve Production in Asia-Pacific

In value terms, check valve production shrank rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 78% against the previous year. As a result, production attained the peak level of $X, and then shrank significantly in the following year.

Check Valve Exports

Exports in Asia-Pacific

In 2021, shipments abroad of check valves for pipes, boiler shells, tanks and vats was finally on the rise to reach X units after two years of decline. Overall, exports recorded a tangible expansion. The growth pace was the most rapid in 2016 with an increase of 135%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, check valve exports surged to $X in 2021. The total export value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, resulting at X units, which was approx. 76% of total exports in 2021. Japan (X units), Taiwan (Chinese) (X units), Indonesia (X units), South Korea (X units), Thailand (X units) and India (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to check valve exports from China stood at +3.8%. At the same time, India (+19.6%), Thailand (+4.5%), Indonesia (+4.3%) and Taiwan (Chinese) (+4.2%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +19.6% from 2012-2021. By contrast, Japan (-1.7%) and South Korea (-6.2%) illustrated a downward trend over the same period. China (+5.7 p.p.) and India (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Japan and South Korea saw its share reduced by -2.2% and -4.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest check valve supplier in Asia-Pacific, comprising 55% of total exports. The second position in the ranking was taken by Japan ($X), with a 17% share of total exports. It was followed by South Korea, with a 7.4% share.

In China, check valve exports expanded at an average annual rate of +5.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (-1.6% per year) and South Korea (-0.8% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, growing by 3.7% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 118% against the previous year. The level of export peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+5.8%), while the other leaders experienced more modest paces of growth.

Check Valve Imports

Imports in Asia-Pacific

In 2021, check valve imports in Asia-Pacific fell to X units, which is down by -8.5% compared with 2020 figures. The total import volume increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 24% against the previous year. As a result, imports attained the peak of X units, and then shrank in the following year.

In value terms, check valve imports expanded sharply to $X in 2021. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 12% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X units), Thailand (X units), South Korea (X units), Malaysia (X units) and Japan (X units) was the main importer of check valves for pipes, boiler shells, tanks and vats in Asia-Pacific, generating 69% of total import. Indonesia (X units) took a 5.3% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (4.5%). The following importers - Singapore (X units), Australia (X units), Bangladesh (X units), India (X units), Vietnam (X units) and Myanmar (X units) - together made up 16% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading 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, China ($X) constitutes the largest market for imported check valves for pipes, boiler shells, tanks and vats in Asia-Pacific, comprising 45% of total imports. The second position in the ranking was taken by Japan ($X), with a 9.9% share of total imports. It was followed by Singapore, with a 6% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +3.7%. In the other countries, the average annual rates were as follows: Japan (+2.9% per year) and Singapore (+2.6% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2021, with an increase of 21% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per unit in 2013; however, from 2014 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 China ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+9.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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