Eastern Asia: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in Eastern Asia

The East Asian pressure-reducing iron valve market totaled $X in 2022, surging by 13% against the previous year. The total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -11.4% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Pressure-Reducing Iron Valve Production in Eastern Asia

In value terms, pressure-reducing iron valve production rose significantly to $X in 2022 estimated in export price. The total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.0% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 39% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Pressure-Reducing Iron Valve Exports

Exports in Eastern Asia

In 2022, after two years of growth, there was significant decline in overseas shipments of pressure-reducing, control, check and safety valves, when their volume decreased by -14.3% to X units. Overall, exports, however, showed prominent growth. The pace of growth was the most pronounced in 2015 when exports increased by 52%. The volume of export peaked at X units in 2021, and then fell in the following year.

In value terms, pressure-reducing iron valve exports totaled $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 +51.6% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 36%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

China dominates exports structure, resulting at X units, which was approx. 78% of total exports in 2022. It was distantly followed by South Korea (X units), Japan (X units) and Taiwan (Chinese) (X units), together mixing up a 21% share of total exports. Hong Kong SAR (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to pressure-reducing iron valve exports from China stood at +6.8%. At the same time, Taiwan (Chinese) (+17.9%), Hong Kong SAR (+5.6%) and South Korea (+5.2%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +17.9% from 2012-2022. By contrast, Japan (-3.6%) illustrated a downward trend over the same period. China (+6.6 p.p.) and Taiwan (Chinese) (+3.3 p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by -9.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest pressure-reducing iron valve supplier in Eastern Asia, comprising 56% of total exports. The second position in the ranking was held by Japan ($X), with a 20% share of total exports. It was followed by South Korea, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +9.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-1.7% per year) and South Korea (+6.2% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, with an increase of 18% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 59% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.4%), while the other leaders experienced more modest paces of growth.

Pressure-Reducing Iron Valve Imports

Imports in Eastern Asia

In 2022, pressure-reducing iron valve imports in Eastern Asia fell slightly to X units, shrinking by -1.7% against the previous year's figure. The total import volume increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 23%. Over the period under review, imports attained the peak figure at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, pressure-reducing iron valve imports dropped slightly to $X in 2022. The total import value increased at an average annual rate of +3.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 25% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then declined in the following year.

Imports by Country

China represented the major importer of pressure-reducing, control, check and safety valves in Eastern Asia, with the volume of imports reaching X units, which was near 54% of total imports in 2022. Japan (X units) ranks second in terms of the total imports with a 19% share, followed by South Korea (17%) and Taiwan (Chinese) (6.3%). Hong Kong SAR (X units) held a relatively small share of total imports.

China experienced a relatively flat trend pattern with regard to volume of imports of pressure-reducing, control, check and safety valves. At the same time, South Korea (+6.3%), Taiwan (Chinese) (+5.8%) and Japan (+3.0%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +6.3% from 2012-2022. By contrast, Hong Kong SAR (-3.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea, Japan and Taiwan (Chinese) increased by +6, +2.1 and +2 percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported pressure-reducing, control, check and safety valves in Eastern Asia, comprising 63% of total imports. The second position in the ranking was held by South Korea ($X), with a 15% share of total imports. It was followed by Japan, with a 14% share.

In China, pressure-reducing iron valve imports increased at an average annual rate of +3.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+11.3% per year) and Japan (+2.5% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2016 when the import price increased by 11% against the previous year. The level of import peaked 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 ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform