Finland: Tap And Valve Market 2024

Tap And Valve Market Size in Finland

The Finnish tap and valve market surged to $X in 2022, increasing by 23% against the previous year. The market value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the near future.

Tap And Valve Production in Finland

In value terms, tap and valve production amounted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a mild decrease. The pace of growth appeared the most rapid in 2013 with an increase of 14%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Tap And Valve Exports

Exports from Finland

Tap and valve exports from Finland contracted dramatically to X tons in 2022, waning by -19.3% compared with the previous year. Overall, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2019 when exports increased by 4.7%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, tap and valve exports dropped to $X in 2022. Over the period under review, exports saw a perceptible curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 6.4%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Sweden (X tons) and Germany (X tons) were the main destinations of tap and valve exports from Finland, with a combined 33% share of total exports. These countries were followed by Poland, Russia, the United States, Estonia, France, the Netherlands, Indonesia, India, Norway and Italy, which together accounted for a further 39%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +22.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tap and valve exported from Finland were China ($X), Sweden ($X) and Germany ($X), with a combined 29% share of total exports. These countries were followed by Russia, the Netherlands, the United States, Poland, France, Estonia, India, Indonesia, Norway and Italy, which together accounted for a further 37%.

Among the main countries of destination, Indonesia, with a CAGR of +16.7%, saw the highest rates of growth with regard to the value of exports, 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 5.8% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 6.6%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Poland ($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 Russia (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Finland

In 2022, overseas purchases of taps, cocks, valves and similar appliances increased by 4.5% to X tons, rising for the second year in a row after three years of decline. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 7.7%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, tap and valve imports expanded modestly to $X in 2022. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of 11% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Germany (X tons), Italy (X tons) and China (X tons) were the main suppliers of tap and valve imports to Finland, together comprising 51% of total imports. These countries were followed by Denmark, Sweden, Poland, Austria, Spain, the UK, the Czech Republic, the Netherlands, Taiwan (Chinese) and France, which together accounted for a further 41%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +3.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of taps, cocks, valves and similar appliances to Finland, comprising 30% of total imports. The second position in the ranking was held by Italy ($X), with a 12% share of total imports. It was followed by Sweden, with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+3.4% per year) and Sweden (-0.8% per year).

Import Prices by Country

In 2022, the average tap and valve import price amounted to $X per ton, remaining constant against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 10% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 the UK ($X per ton), while the price for China ($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 Czech Republic (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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