Asia-Pacific: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in Asia-Pacific

The Asia-Pacific pressure-reducing iron valve market rose significantly to $X in 2022, increasing by 10% against the previous year. The total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.9% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Pressure-Reducing Iron Valve Production in Asia-Pacific

In value terms, pressure-reducing iron valve production expanded significantly to $X in 2022 estimated in export price. The total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.2% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 33%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Pressure-Reducing Iron Valve Exports

Exports in Asia-Pacific

Pressure-reducing iron valve exports contracted to X units in 2022, shrinking by -8% on 2021. Total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.8% 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 +18.4% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 34%. Over the period under review, the exports reached the peak figure at X units in 2021, and then dropped in the following year.

In value terms, pressure-reducing iron valve exports rose modestly to $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +75.5% against 2012 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 31%. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

China dominates exports structure, amounting to X units, which was near 58% of total exports in 2022. India (X units) ranks second in terms of the total exports with a 9.5% share, followed by South Korea (7.5%) and Indonesia (5.7%). The following exporters - Japan (X units), Taiwan (Chinese) (X units) and Thailand (X units) - together made up 11% of total exports.

From 2012 to 2022, average annual rates of growth with regard to pressure-reducing iron valve exports from China stood at +6.8%. At the same time, Taiwan (Chinese) (+17.9%), Indonesia (+9.2%), India (+8.5%), Thailand (+6.2%) and South Korea (+5.2%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +17.9% from 2012-2022. By contrast, Japan (-3.6%) illustrated a downward trend over the same period. China (+5.2 p.p.), Taiwan (Chinese) (+2.5 p.p.), India (+2.1 p.p.) and Indonesia (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by -6.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest pressure-reducing iron valve supplier in Asia-Pacific, comprising 42% of total exports. The second position in the ranking was taken by Japan ($X), with a 15% share of total exports. It was followed by South Korea, with a 13% share.

In China, pressure-reducing iron valve exports expanded at an average annual rate of +9.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-1.7% per year) and South Korea (+6.2% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, picking up by 12% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 39%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the export prices remained at a somewhat lower figure.

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 Japan ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.8%), while the other leaders experienced more modest paces of growth.

Pressure-Reducing Iron Valve Imports

Imports in Asia-Pacific

In 2022, imports of pressure-reducing, control, check and safety valves in Asia-Pacific fell slightly to X units, with a decrease of -4.4% compared with the previous year's figure. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 51% against the previous year. As a result, imports attained 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 shrank modestly to $X in 2022. The total import value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 50%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units), distantly followed by Thailand (X units), Malaysia (X units), Japan (X units), South Korea (X units), Indonesia (X units), Bangladesh (X units) and Singapore (X units) were the major importers of pressure-reducing, control, check and safety valves, together committing 79% of total imports. India (X units), Australia (X units), Taiwan (Chinese) (X units), Vietnam (X units) and Hong Kong SAR (X units) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of imports of pressure-reducing, control, check and safety valves. At the same time, Bangladesh (+7.6%), Thailand (+7.1%), South Korea (+6.3%), Taiwan (Chinese) (+5.8%), India (+4.3%) and Japan (+3.0%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +7.6% from 2012-2022. Singapore, Vietnam and Australia experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-3.3%), Malaysia (-5.3%) and Indonesia (-9.9%) illustrated a downward trend over the same period. While the share of Thailand (+6 p.p.), South Korea (+3.7 p.p.), Bangladesh (+3 p.p.), Japan (+2.4 p.p.), China (+2.1 p.p.) and India (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malaysia (-5.7 p.p.) and Indonesia (-12.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported pressure-reducing, control, check and safety valves in Asia-Pacific, comprising 41% of total imports. The second position in the ranking was taken by South Korea ($X), with a 9.6% share of total imports. It was followed by Japan, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +3.0%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+11.3% per year) and Japan (+2.5% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, increasing by 4.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The growth pace was the most rapid in 2018 an increase of 14% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while Bangladesh ($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