Eastern Asia: Tap And Valve Market 2024

Tap And Valve Market Size in Eastern Asia

In 2022, the East Asian tap and valve market decreased by -1.5% to $X, falling for the second consecutive year after four years of growth. The market value increased at an average annual rate of +2.5% 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 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Tap And Valve Production in Eastern Asia

In value terms, tap and valve production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% 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 2018 when the production volume increased by 10% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Tap And Valve Exports

Exports in Eastern Asia

In 2022, overseas shipments of taps, cocks, valves and similar appliances increased by 1.4% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports enjoyed moderate growth. The most prominent rate of growth was recorded in 2016 when exports increased by 132% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, tap and valve exports reached $X in 2022. The total export value increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 25% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

China dominates exports structure, finishing at X tons, which was approx. 87% of total exports in 2022. It was distantly followed by Japan (X tons), committing a 5.3% share of total exports. South Korea (X tons) and Taiwan (Chinese) (X tons) held a relatively small share of total exports.

China was also the fastest-growing in terms of the taps, cocks, valves and similar appliances exports, with a CAGR of +3.3% from 2012 to 2022. At the same time, Taiwan (Chinese) (+1.0%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. By contrast, South Korea (-4.9%) illustrated a downward trend over the same period. While the share of China (+6.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (-4.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest tap and valve supplier in Eastern Asia, comprising 71% of total exports. The second position in the ranking was held by Japan ($X), with a 17% share of total exports. It was followed by South Korea, with a 6.2% share.

In China, tap and valve exports expanded at an average annual rate of +5.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-0.0% per year) and South Korea (-2.3% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the export price showed a modest increase. The most prominent rate of growth was recorded in 2014 when the export price increased by 129%. 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 South Korea (+2.7%), while the other leaders experienced more modest paces of growth.

Tap And Valve Imports

Imports in Eastern Asia

After two years of growth, purchases abroad of taps, cocks, valves and similar appliances decreased by -11.1% to X tons in 2022. The total import volume increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 30%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, tap and valve imports shrank to $X in 2022. The total import value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 19% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

China was the key importer of taps, cocks, valves and similar appliances in Eastern Asia, with the volume of imports reaching X tons, which was approx. 46% of total imports in 2022. South Korea (X tons) ranks second in terms of the total imports with a 23% share, followed by Japan (18%) and Taiwan (Chinese) (9.2%). Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by South Korea (with a CAGR of +1.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported taps, cocks, valves and similar appliances in Eastern Asia, comprising 62% of total imports. The second position in the ranking was taken by South Korea ($X), with a 15% share of total imports. It was followed by Japan, with a 14% share.

In China, tap and valve imports expanded at an average annual rate of +3.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+2.3% per year) and Japan (+1.0% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, rising by 5.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2016 an increase of 16%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

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 ($X per ton), while South Korea ($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) (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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