Belgium: Safety Valve Market 2024

Safety Valve Market Size in Belgium

In 2021, the Belgian safety valve market increased by 32% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption enjoyed a prominent increase. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in years to come.

Safety Valve Production in Belgium

In value terms, safety valve production dropped markedly to $X in 2021 estimated in export price. Overall, production, however, saw resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 197%. As a result, production attained the peak level of $X, and then shrank dramatically in the following year.

Safety Valve Exports

Exports from Belgium

In 2021, overseas shipments of safety or relief valves for pipes, boiler shells, tanks and vats increased by 39% to X units, rising for the third consecutive year after five years of decline. Over the period under review, exports showed a resilient increase. The pace of growth appeared the most rapid in 2020 when exports increased by 267%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, safety valve exports shrank slightly to $X in 2021. In general, exports continue to indicate a modest increase. The pace of growth was the most pronounced in 2020 when exports increased by 148%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

The Netherlands (X units), France (X units) and Brazil (X units) were the main destinations of safety valve exports from Belgium, together comprising 29% of total exports. Italy, China, Germany, the UK, Nigeria, Sweden, the United States, Luxembourg, Spain and Morocco lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2021, the biggest increases were recorded for Morocco (with a CAGR of +70.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for safety valve exported from Belgium were Germany ($X), Italy ($X) and France ($X), together comprising 24% of total exports. These countries were followed by the Netherlands, Brazil, China, the UK, the United States, Sweden, Spain, Morocco, Nigeria and Luxembourg, which together accounted for a further 40%.

In terms of the main countries of destination, Morocco, with a CAGR of +47.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average safety valve export price amounted to $X per unit, falling by -28.3% against the previous year. In general, the export price saw a deep contraction. The pace of growth was the most pronounced in 2014 an increase of 28% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per unit), while the average price for exports to Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+5.2%), while the prices for the other major destinations experienced a decline.

Safety Valve Imports

Imports into Belgium

In 2021, overseas purchases of safety or relief valves for pipes, boiler shells, tanks and vats increased by 106% to X units, rising for the second year in a row after two years of decline. In general, imports posted a prominent increase. The pace of growth appeared the most rapid in 2020 when imports increased by 134% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, safety valve imports rose sharply to $X in 2021. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 31% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X units), the Netherlands (X units) and Germany (X units) were the main suppliers of safety valve imports to Belgium, with a combined 65% share of total imports. These countries were followed by France, South Korea, the UK, China, the United States and Israel, which together accounted for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +41.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and France ($X) constituted the largest safety valve suppliers to Belgium, with a combined 59% share of total imports. These countries were followed by Italy, the United States, the UK, South Korea, China and Israel, which together accounted for a further 21%.

China, with a CAGR of +23.8%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average safety valve import price stood at $X per unit in 2021, with a decrease of -45.6% against the previous year. In general, the import price faced a abrupt descent. The pace of growth was the most pronounced in 2019 when the average import price increased by 8.3%. Over the period under review, average import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Israel ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+6.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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