Asia-Pacific: Safety Valve Market 2024

Safety Valve Market Size in Asia-Pacific

The Asia-Pacific safety valve market declined markedly to $X in 2021, with a decrease of -31.8% against the previous year. Over the period under review, consumption, however, recorded a buoyant expansion. As a result, consumption attained the peak level of $X, and then declined sharply in the following year.

Safety Valve Production in Asia-Pacific

In value terms, safety valve production fell dramatically to $X in 2021 estimated in export price. In general, production, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 213% against the previous year. As a result, production attained the peak level of $X, and then dropped markedly in the following year.

Safety Valve Exports

Exports in Asia-Pacific

In 2021, exports of safety or relief valves for pipes, boiler shells, tanks and vats in Asia-Pacific skyrocketed to X units, jumping by 16% on the previous year. Over the period under review, exports recorded a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, safety valve exports amounted to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 14% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China was the key exporter of safety or relief valves for pipes, boiler shells, tanks and vats in Asia-Pacific, with the volume of exports accounting for X units, which was approx. 39% of total exports in 2021. Japan (X units) held a 17% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (13%), Thailand (12%) and Singapore (5.9%). The following exporters - South Korea (X units) and India (X units) - each resulted at an 8% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to safety valve exports from China stood at +9.8%. At the same time, Thailand (+17.2%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +17.2% from 2012-2021. India, Taiwan (Chinese) and Singapore experienced a relatively flat trend pattern. By contrast, Japan (-4.2%) and South Korea (-18.2%) illustrated a downward trend over the same period. China (+21 p.p.) and Thailand (+9 p.p.) significantly strengthened its position in terms of the total exports, while Japan and South Korea saw its share reduced by -9.2% and -23.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest safety valve supplying countries in Asia-Pacific were Japan ($X), China ($X) and Singapore ($X), together accounting for 71% of total exports. These countries were followed by Taiwan (Chinese), South Korea, Thailand and India, which together accounted for a further 19%.

Thailand, with a CAGR of +12.6%, 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

The export price in Asia-Pacific stood at $X per unit in 2021, shrinking by -7.2% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by 13% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2014; however, from 2015 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 (+6.0%), while the other leaders experienced more modest paces of growth.

Safety Valve Imports

Imports in Asia-Pacific

In 2021, supplies from abroad of safety or relief valves for pipes, boiler shells, tanks and vats increased by 43% to X units for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, saw a relatively flat trend pattern. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, safety valve imports soared to $X in 2021. The total import value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units), distantly followed by Singapore (X units), Thailand (X units), Japan (X units), Malaysia (X units), South Korea (X units) and Taiwan (Chinese) (X units) were the main importers of safety or relief valves for pipes, boiler shells, tanks and vats, together comprising 78% of total imports. India (X units), Indonesia (X units), Vietnam (X units), Australia (X units) and Hong Kong SAR (X units) held a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +24.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest safety valve importing markets in Asia-Pacific were China ($X), Singapore ($X) and South Korea ($X), together comprising 61% of total imports. These countries were followed by Japan, Taiwan (Chinese), Thailand, Vietnam, Malaysia, India, Australia, Hong Kong SAR and Indonesia, which together accounted for a further 35%.

In terms of the main importing countries, Vietnam, with a CAGR of +19.1%, recorded the highest rates of growth with regard to 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

The import price in Asia-Pacific stood at $X per unit in 2021, declining by -10.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2013 when the import price increased by 51%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+23.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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