Ecuador: Tap And Valve Market 2024

Tap And Valve Market Size in Ecuador

The Ecuadorian tap and valve market reduced to $X in 2022, with a decrease of -6.1% against the previous year. Overall, consumption recorded a pronounced setback. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Tap And Valve Production in Ecuador

In value terms, tap and valve production expanded slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 -1.8% against 2020 indices. The growth pace was the most rapid in 2014 when the production volume increased by 67%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Tap And Valve Exports

Exports from Ecuador

In 2022, after two years of growth, there was decline in shipments abroad of taps, cocks, valves and similar appliances, when their volume decreased by -4.8% to X tons. Over the period under review, exports showed a drastic downturn. The pace of growth was the most pronounced in 2015 when exports increased by 39%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, tap and valve exports rose slightly to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 49% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Peru (X tons) was the main destination for tap and valve exports from Ecuador, with a 44% share of total exports. Moreover, tap and valve exports to Peru exceeded the volume sent to the second major destination, Bolivia (X tons), fourfold. The third position in this ranking was held by Colombia (X tons), with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Peru stood at -13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (-0.1% per year) and Colombia (-10.4% per year).

In value terms, the largest markets for tap and valve exported from Ecuador were Peru ($X), the United States ($X) and Colombia ($X), together accounting for 68% of total exports. Bolivia, Chile, Guatemala, El Salvador, Jamaica, Saint Vincent and the Grenadines, Trinidad and Tobago, Honduras, Panama and Venezuela lagged somewhat behind, together comprising a further 24%.

El Salvador, with a CAGR of +42.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tap and valve export price stood at $X per ton in 2022, with an increase of 10% against the previous year. Over the period under review, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +10.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tap and valve export price decreased by -6.8% against 2017 indices. The growth pace was the most rapid in 2013 an increase of 43%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Panama ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+17.5%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Ecuador

In 2022, tap and valve imports into Ecuador contracted to X tons, with a decrease of -8.5% compared with the year before. Over the period under review, imports recorded a mild decrease. The most prominent rate of growth was recorded in 2017 when imports increased by 28%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, tap and valve imports contracted to $X in 2022. In general, imports recorded a pronounced descent. The pace of growth appeared the most rapid in 2021 with an increase of 34%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest tap and valve supplier to Ecuador, accounting for a 60% share of total imports. Moreover, tap and valve imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), sixfold. Italy (X tons) ranked third in terms of total imports with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-12.7% per year) and Italy (+4.2% per year).

In value terms, China ($X) constituted the largest supplier of taps, cocks, valves and similar appliances to Ecuador, comprising 38% of total imports. The second position in the ranking was held by the United States ($X), with a 17% share of total imports. It was followed by Italy, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-12.4% per year) and Italy (+1.9% per year).

Import Prices by Country

The average tap and valve import price stood at $X per ton in 2022, shrinking by -4.6% against the previous year. In general, the import price saw a perceptible descent. The growth pace was the most rapid in 2015 an increase of 13%. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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