Canada: Safety Valve Market 2024

Safety Valve Market Size in Canada

After two years of growth, the Canadian safety valve market decreased by -39.3% to $X in 2021. Over the period under review, consumption, however, enjoyed a resilient expansion. As a result, consumption reached the peak level of $X, and then shrank notably in the following year.

Safety Valve Production in Canada

In value terms, safety valve production declined remarkably to $X in 2021 estimated in export price. In general, production, however, enjoyed significant growth. The growth pace was the most rapid in 2020 when the production volume increased by 744%. As a result, production attained the peak level of $X, and then contracted remarkably in the following year.

Safety Valve Exports

Exports from Canada

In 2021, overseas shipments of safety or relief valves for pipes, boiler shells, tanks and vats decreased by -12.5% to X units, falling for the second consecutive year after two years of growth. In general, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2014 when exports increased by 50% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, safety valve exports dropped to $X in 2021. Overall, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2014 when exports increased by 20%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for safety valve exports from Canada, accounting for a 59% share of total exports. Moreover, safety valve exports to the United States exceeded the volume sent to the second major destination, Germany (X units), ninefold. The third position in this ranking was held by the United Arab Emirates (X units), with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at -9.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+6.9% per year) and the United Arab Emirates (+6.0% per year).

In value terms, the United States ($X) remains the key foreign market for safety or relief valves for pipes, boiler shells, tanks and vats exports from Canada, comprising 60% of total exports. The second position in the ranking was taken by Germany ($X), with a 6.6% share of total exports. It was followed by the United Arab Emirates, with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to -8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+8.1% per year) and the United Arab Emirates (+8.4% per year).

Export Prices by Country

The average safety valve export price stood at $X per unit in 2021, picking up by 1.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.0%. The growth pace was the most rapid in 2017 an increase of 11%. The export price peaked in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2021, the countries with the highest prices were Poland ($X per unit) and France ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.

Safety Valve Imports

Imports into Canada

In 2021, purchases abroad of safety or relief valves for pipes, boiler shells, tanks and vats was finally on the rise to reach X units after six years of decline. Over the period under review, imports, however, showed a pronounced downturn. The growth pace was the most rapid in 2014 when imports increased by 17%. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, safety valve imports rose to $X in 2021. In general, imports, however, continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2014 when imports increased by 12%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the United States (X units) constituted the largest supplier of safety valve to Canada, accounting for a 66% share of total imports. Moreover, safety valve imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X units), ninefold. The third position in this ranking was taken by China (X units), with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at -5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+0.4% per year) and China (-3.0% per year).

In value terms, the United States ($X) constituted the largest supplier of safety or relief valves for pipes, boiler shells, tanks and vats to Canada, comprising 66% of total imports. The second position in the ranking was taken by Mexico ($X), with a 7.4% share of total imports. It was followed by China, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+1.7% per year) and China (-1.8% per year).

Import Prices by Country

The average safety valve import price stood at $X per unit in 2021, shrinking by -1.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2019 when the average import price increased by 14% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2020, and then fell slightly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Mexico ($X per unit) and the United States ($X per unit), while the price for France ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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