Asia-Pacific: Tap And Valve Market 2024

Tap And Valve Market Size in Asia-Pacific

In 2022, the Asia-Pacific tap and valve market decreased by -0.2% to $X, falling for the second year in a row after four years of growth. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Tap And Valve Production in Asia-Pacific

In value terms, tap and valve production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period 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 2018 when the production volume increased by 9.8%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Tap And Valve Exports

Exports in Asia-Pacific

In 2022, overseas shipments of taps, cocks, valves and similar appliances increased by 2.1% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +2.7% 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 +17.0% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 98%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, tap and valve exports reached $X in 2022. The total export value increased at an average annual rate of +4.2% 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 2021 with an increase of 21% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

China prevails in exports structure, accounting for X tons, which was approx. 76% of total exports in 2022. It was distantly followed by Japan (X tons), achieving a 4.6% share of total exports. The following exporters - Thailand (X tons), India (X tons), South Korea (X tons), Taiwan (Chinese) (X tons) and Singapore (X tons) - together made up 16% of total exports.

From 2012 to 2022, average annual rates of growth with regard to tap and valve exports from China stood at +3.3%. At the same time, Singapore (+6.4%), Thailand (+3.6%), India (+1.8%) and Taiwan (Chinese) (+1.0%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +6.4% from 2012-2022. Japan experienced a relatively flat trend pattern. By contrast, South Korea (-4.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +4.3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest tap and valve supplier in Asia-Pacific, comprising 57% of total exports. The second position in the ranking was taken by Japan ($X), with a 14% share of total exports. It was followed by Singapore, with a 5.5% share.

In China, tap and valve exports expanded at an average annual rate of +5.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-0.0% per year) and Singapore (+9.1% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, picking up by 2.1% against the previous year. Over the period under review, the export price enjoyed slight growth. The growth pace was the most rapid in 2014 when the export price increased by 98% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a 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 South Korea (+2.7%), while the other leaders experienced more modest paces of growth.

Tap And Valve Imports

Imports in Asia-Pacific

In 2022, after two years of growth, there was decline in overseas purchases of taps, cocks, valves and similar appliances, when their volume decreased by -1.8% to X tons. The total import volume increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2014 when imports increased by 14% against the previous year. The volume of import peaked at X tons in 2021, and then reduced slightly in the following year.

In value terms, tap and valve imports stood at $X in 2022. The total import value increased at an average annual rate of +3.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 19% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

The countries with the highest levels of tap and valve imports in 2022 were China (X tons), Thailand (X tons), Indonesia (X tons), South Korea (X tons), India (X tons), Japan (X tons), Singapore (X tons), Vietnam (X tons), Australia (X tons), Taiwan (Chinese) (X tons) and Malaysia (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 key importing countries, was attained by Vietnam (with a CAGR of +12.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported taps, cocks, valves and similar appliances in Asia-Pacific, comprising 34% of total imports. The second position in the ranking was held by Thailand ($X), with an 11% share of total imports. It was followed by Singapore, with an 8.6% share.

In China, tap and valve imports increased at an average annual rate of +3.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (+3.0% per year) and Singapore (+8.1% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, increasing by 3.4% against the previous year. Overall, the import price recorded a mild expansion. The growth pace was the most rapid in 2016 an increase of 8%. Over the period under review, import prices hit record highs in 2022 and is expected to retain 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 ($X per ton), while Indonesia ($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) (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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