Eastern Europe: Tap And Valve Market 2024

Tap And Valve Market Size in Eastern Europe

The East European tap and valve market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 8.6%. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Tap And Valve Production in Eastern Europe

In value terms, tap and valve production amounted to $X in 2022 estimated in export price. Overall, production, however, showed a perceptible contraction. The most prominent rate of growth was recorded in 2016 when the production volume increased by 15% against the previous year. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Tap And Valve Exports

Exports in Eastern Europe

In 2022, approx. X tons of taps, cocks, valves and similar appliances were exported in Eastern Europe; dropping by -8.2% compared with the previous year's figure. The total export volume increased at an average annual rate of +1.7% over the period 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 2017 with an increase of 16%. The volume of export peaked at X tons in 2021, and then declined in the following year.

In value terms, tap and valve exports declined slightly to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +17.9% against 2018 indices. The pace of growth was the most pronounced in 2021 with an increase of 24%. As a result, the exports reached the peak of $X, and then contracted slightly in the following year.

Exports by Country

In 2022, Poland (X tons) and the Czech Republic (X tons) were the major exporters of taps, cocks, valves and similar appliances in Eastern Europe, together accounting for near 56% of total exports. Russia (X tons) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Hungary (9.9%), Romania (7.5%), Belarus (5.2%) and Bulgaria (4.9%).

From 2012 to 2022, the biggest increases were recorded for Belarus (with a CAGR of +7.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest tap and valve supplying countries in Eastern Europe were the Czech Republic ($X), Poland ($X) and Hungary ($X), together accounting for 74% of total exports. Romania, Russia, Bulgaria and Belarus lagged somewhat behind, together accounting for a further 20%.

Romania, with a CAGR of +10.4%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, with an increase of 4.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2020 an increase of 11% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+4.4%), while the other leaders experienced more modest paces of growth.

Tap And Valve Imports

Imports in Eastern Europe

In 2022, approx. X tons of taps, cocks, valves and similar appliances were imported in Eastern Europe; with a decrease of -6.8% compared with the previous year's figure. The total import volume increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 14% against the previous year. The volume of import peaked at X tons in 2021, and then declined in the following year.

In value terms, tap and valve imports reduced to $X in 2022. Total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.3% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of 21%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

In 2022, Russia (X tons) was the key importer of taps, cocks, valves and similar appliances, generating 42% of total imports. Poland (X tons) ranks second in terms of the total imports with a 19% share, followed by the Czech Republic (9.2%), Romania (7.1%) and Hungary (5.7%). The following importers - Ukraine (X tons) and Belarus (X tons) - each reached a 7.4% share of total imports.

Russia experienced a relatively flat trend pattern with regard to volume of imports of taps, cocks, valves and similar appliances. At the same time, Hungary (+8.6%), Poland (+5.3%), Romania (+4.2%), the Czech Republic (+3.0%) and Belarus (+3.0%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +8.6% from 2012-2022. By contrast, Ukraine (-5.6%) illustrated a downward trend over the same period. While the share of Poland (+5.9 p.p.), Hungary (+2.8 p.p.) and Romania (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ukraine (-4 p.p.) and Russia (-9.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X), Poland ($X) and the Czech Republic ($X) constituted the countries with the highest levels of imports in 2022, with a combined 69% share of total imports.

Among the main importing countries, Poland, with a CAGR of +7.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2021 when the import price increased by 12%. Over the period under review, import prices attained the maximum in 2022 and is likely to see steady 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 the Czech Republic ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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