Eastern Asia: Market for Process Control, Gate, Globe and Other Valves 2024

Market Size for Process Control, Gate, Globe and Other Valves in Eastern Asia

In 2022, the East Asian market for process control, gate, globe and other valves decreased by -6.1% to $X, falling for the fourth year in a row after seven years of growth. The market value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Process Control, Gate, Globe and Other Valves in Eastern Asia

In value terms, production of process control, gate, globe and other valves contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 24%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Process Control, Gate, Globe and Other Valves

Exports in Eastern Asia

In 2022, overseas shipments of process control, gate, globe and other valves increased by 2.8% to X tons, rising for the second year in a row after two years of decline. In general, exports continue to indicate a noticeable increase. The pace of growth was the most pronounced in 2016 when exports increased by 139% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, exports of process control, gate, globe and other valves rose markedly to $X in 2022. The total export value increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 25%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

China dominates valves structure, finishing at X tons, which was near 90% of total exports in 2022. Japan (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +3.1% from 2012 to 2022. At the same time, Japan (+3.1%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +3.1% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, South Korea (-5.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +4.6 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest process control, gate, globe and other valves supplier in Eastern Asia, comprising 78% of total exports. The second position in the ranking was taken by Japan ($X), with a 12% share of total exports. It was followed by South Korea, with a 5.2% share.

In China, exports of process control, gate, globe and other valves increased at an average annual rate of +5.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+0.9% per year) and South Korea (-3.4% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, growing by 2.9% against the previous year. In general, the export price enjoyed slight growth. The growth pace was the most rapid in 2014 an increase of 140% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 Taiwan (Chinese) (+2.8%), while the other leaders experienced more modest paces of growth.

Imports of Process Control, Gate, Globe and Other Valves

Imports in Eastern Asia

In 2022, after two years of growth, there was decline in supplies from abroad of process control, gate, globe and other valves, when their volume decreased by -2.8% to X tons. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 41% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of process control, gate, globe and other valves contracted modestly to $X in 2022. The total import value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 19% against the previous year. As a result, imports attained the peak of $X, and then contracted slightly in the following year.

Imports by Country

The purchases of the three major importers of process control, gate, globe and other valves, namely China, South Korea and Japan, represented more than two-thirds of total import. Taiwan (Chinese) (X tons) ranks next in terms of the total imports with a 10% share, followed by Hong Kong SAR (5.8%).

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +5.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported process control, gate, globe and other valves in Eastern Asia, comprising 57% of total imports. The second position in the ranking was held by South Korea ($X), with a 17% share of total imports. It was followed by Japan, with a 15% share.

In China, imports of process control, gate, globe and other valves increased at an average annual rate of +3.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+2.9% per year) and Japan (+0.1% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, remaining constant against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2016 an increase of 20% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($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) (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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