Asia: Safety Valve Market 2024

Safety Valve Market Size in Asia

The Asian safety valve market dropped significantly to $X in 2021, waning by -32.7% against the previous year. Overall, consumption, however, recorded a remarkable increase. As a result, consumption attained the peak level of $X, and then contracted dramatically in the following year.

Safety Valve Production in Asia

In value terms, safety valve production fell markedly to $X in 2021 estimated in export price. In general, production, however, continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2020 when the production volume increased by 213%. As a result, production attained the peak level of $X, and then contracted rapidly in the following year.

Safety Valve Exports

Exports in Asia

Safety valve exports surged to X units in 2021, rising by 28% compared with the year before. The total export volume increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, safety valve exports rose sharply to $X in 2021. The total export value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the major exporter of safety or relief valves for pipes, boiler shells, tanks and vats in Asia, with the volume of exports reaching X units, which was near 29% of total exports in 2021. Turkey (X units) ranks second in terms of the total exports with a 14% share, followed by Japan (12%), Taiwan (Chinese) (9.4%), Thailand (9%) and the United Arab Emirates (8.3%). Singapore (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +9.8% from 2012 to 2021. At the same time, the United Arab Emirates (+24.1%), Thailand (+17.2%) and Turkey (+8.2%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of +24.1% from 2012-2021. Taiwan (Chinese) and Singapore experienced a relatively flat trend pattern. By contrast, Japan (-4.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, the United Arab Emirates, Thailand and Turkey increased by +14, +6.9, +6.3 and +5.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), China ($X) and Singapore ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 60% of total exports. These countries were followed by Turkey, Taiwan (Chinese), the United Arab Emirates and Thailand, which together accounted for a further 21%.

The United Arab Emirates, with a CAGR of +21.2%, saw the highest rates of growth with regard to 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

In 2021, the export price in Asia amounted to $X per unit, declining by -10.3% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 12% against the previous year. Over the period under review, the export prices reached the maximum 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 Turkey (+6.4%), while the other leaders experienced more modest paces of growth.

Safety Valve Imports

Imports in Asia

In 2021, purchases abroad of safety or relief valves for pipes, boiler shells, tanks and vats increased by 42% to X units for the first time since 2017, thus ending a three-year declining trend. In general, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, safety valve imports surged to $X in 2021. The total import value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed 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), Turkey (X units), Thailand (X units), the United Arab Emirates (X units), Japan (X units), Malaysia (X units) and South Korea (X units) represented the main importers of safety or relief valves for pipes, boiler shells, tanks and vats, together mixing up 72% of total imports. Taiwan (Chinese) (X units), India (X units), Indonesia (X units), Vietnam (X units) and Iraq (X units) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Thailand (with a CAGR of +24.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest safety valve importing markets in Asia were China ($X), Singapore ($X) and South Korea ($X), together accounting for 44% of total imports. Turkey, the United Arab Emirates, Japan, Taiwan (Chinese), Thailand, Vietnam, Malaysia, India, Indonesia and Iraq lagged somewhat behind, together comprising a further 34%.

Vietnam, with a CAGR of +19.1%, recorded the highest growth rate of the value of imports, among the main importing countries 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 stood at $X per unit in 2021, waning by -18.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2013 when the import price increased by 46%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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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