Finland: Check Valve Market 2024

Check Valve Market Size in Finland

In 2021, after three years of growth, there was significant decline in the Finnish check valve market, when its value decreased by -11.4% to $X. In general, consumption, however, enjoyed a strong expansion. Check valve consumption peaked at $X in 2020, and then fell in the following year.

Check Valve Production in Finland

In value terms, check valve production expanded markedly to $X in 2021 estimated in export price. Overall, the total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +92.7% against 2012 indices. The growth pace was the most rapid in 2019 when the production volume increased by 15% against the previous year. Over the period under review, production reached the maximum level in 2021 and is likely to continue growth in years to come.

Check Valve Exports

Exports from Finland

For the third consecutive year, Finland recorded growth in overseas shipments of check valves for pipes, boiler shells, tanks and vats, which increased by 338% to X units in 2021. In general, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, check valve exports surged to $X in 2021. Over the period under review, exports showed a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X units) was the main destination for check valve exports from Finland, with a 41% share of total exports. Moreover, check valve exports to Russia exceeded the volume sent to the second major destination, Saudi Arabia (X units), threefold. Uruguay (X units) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia amounted to +25.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+158.4% per year) and Uruguay (+28.3% per year).

In value terms, Russia ($X) remains the key foreign market for check valves for pipes, boiler shells, tanks and vats exports from Finland, comprising 30% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 13% share of total exports. It was followed by Uruguay, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value to Russia amounted to +11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+105.5% per year) and Uruguay (+15.6% per year).

Export Prices by Country

In 2021, the average check valve export price amounted to $X per unit, reducing by -52.3% against the previous year. In general, the export price faced a abrupt setback. The pace of growth was the most pronounced in 2018 when the average export price increased by 30%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Norway ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (-3.4%), while the prices for the other major destinations experienced a decline.

Check Valve Imports

Imports into Finland

For the fourth consecutive year, Finland recorded growth in purchases abroad of check valves for pipes, boiler shells, tanks and vats, which increased by 24% to X units in 2021. In general, imports showed a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by 78% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, check valve imports shrank to $X in 2021. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 26%. Over the period under review, imports hit record highs at $X in 2020, and then dropped in the following year.

Imports by Country

Germany (X units), Spain (X units) and Italy (X units) were the main suppliers of check valve imports to Finland, together comprising 63% of total imports. These countries were followed by Sweden, the Netherlands, Denmark, France and China, which together accounted for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +36.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of check valves for pipes, boiler shells, tanks and vats to Finland, comprising 37% of total imports. The second position in the ranking was held by Italy ($X), with a 13% share of total imports. It was followed by Spain, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.4% per year) and Spain (+5.7% per year).

Import Prices by Country

The average check valve import price stood at $X per unit in 2021, declining by -23.6% against the previous year. Overall, the import price recorded a drastic downturn. The pace of growth appeared the most rapid in 2017 when the average import price increased by 16%. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Sweden ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (-8.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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