Asia-Pacific: Market for Process Control, Gate, Globe and Other Valves 2024

Market Size for Process Control, Gate, Globe and Other Valves in Asia-Pacific

The Asia-Pacific market for process control, gate, globe and other valves fell to $X in 2022, reducing by -1.9% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Process Control, Gate, Globe and Other Valves in Asia-Pacific

In value terms, production of process control, gate, globe and other valves shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 21%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Process Control, Gate, Globe and Other Valves

Exports in Asia-Pacific

In 2022, overseas shipments of process control, gate, globe and other valves increased by 3.2% to X tons, rising for the second consecutive year after two years of decline. Overall, exports posted moderate growth. The most prominent rate of growth was recorded in 2016 when exports increased by 110%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, exports of process control, gate, globe and other valves rose markedly to $X in 2022. The total export value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 22% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

China prevails in valves structure, accounting for X tons, which was approx. 81% of total exports in 2022. Japan (X tons), India (X tons), South Korea (X tons), Taiwan (Chinese) (X tons), Thailand (X tons) and Singapore (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to process control, gate, globe and other valves exports from China stood at +3.1%. At the same time, Singapore (+6.0%), Thailand (+3.4%) and Japan (+3.1%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +6.0% from 2012-2022. Taiwan (Chinese) and India experienced a relatively flat trend pattern. By contrast, South Korea (-5.7%) illustrated a downward trend over the same period. China (+3.7 p.p.) significantly strengthened its position in terms of the total exports, while South Korea saw its share reduced by -3.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest process control, gate, globe and other valves supplier in Asia-Pacific, comprising 66% of total exports. The second position in the ranking was taken by Japan ($X), with a 10% share of total exports. It was followed by Singapore, with a 4.6% share.

In China, exports of process control, gate, globe and other valves expanded at an average annual rate of +5.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+0.9% per year) and Singapore (+8.9% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, growing by 2.9% against the previous year. In general, the export price continues to indicate a mild expansion. The most prominent rate of growth was recorded in 2014 when the export price increased by 110%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood 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 ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.8%), while the other leaders experienced more modest paces of growth.

Imports of Process Control, Gate, Globe and Other Valves

Imports in Asia-Pacific

In 2022, the amount of process control, gate, globe and other valves imported in Asia-Pacific amounted to X tons, with an increase of 5.7% compared with the previous year's figure. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 15%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, imports of process control, gate, globe and other valves reached $X in 2022. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The countries with the highest levels of imports of process control, gate, globe and other valves in 2022 were China (X tons), Indonesia (X tons), South Korea (X tons), India (X tons), Japan (X tons), Vietnam (X tons), Thailand (X tons), Singapore (X tons), Australia (X tons), the Philippines (X tons), Malaysia (X tons) and Taiwan (Chinese) (X tons), together amounting to 92% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +11.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported process control, gate, globe and other valves in Asia-Pacific, comprising 31% of total imports. The second position in the ranking was held by South Korea ($X), with a 9.2% share of total imports. It was followed by Japan, with an 8.1% share.

In China, imports of process control, gate, globe and other valves expanded at an average annual rate of +3.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+2.9% per year) and Japan (+0.1% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, falling by -3.1% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the import price increased by 12% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+11.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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