GCC: Check Valve Market 2024

Check Valve Market Size in GCC

In 2021, after three years of growth, there was significant decline in the GCC check valve market, when its value decreased by -21.4% to $X. Overall, consumption, however, posted a buoyant expansion. As a result, consumption reached the peak level of $X, and then dropped sharply in the following year.

Check Valve Production in GCC

In value terms, check valve production reduced dramatically to $X in 2021 estimated in export price. In general, production, however, posted resilient growth. The pace of growth appeared the most rapid in 2020 when the production volume increased by 254%. As a result, production attained the peak level of $X, and then dropped markedly in the following year.

Check Valve Exports

Exports in GCC

In 2021, overseas shipments of check valves for pipes, boiler shells, tanks and vats were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 149%. The volume of export peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, check valve exports reduced to $X in 2021. Overall, exports posted resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 127% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, amounting to X units, which was near 95% of total exports in 2021. Oman (X units) held a minor share of total exports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of check valves for pipes, boiler shells, tanks and vats. Oman experienced a relatively flat trend pattern. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest check valve supplier in GCC, comprising 94% of total exports. The second position in the ranking was held by Oman ($X), with a 1.3% share of total exports.

In the United Arab Emirates, check valve exports increased at an average annual rate of +9.2% over the period from 2012-2021.

Export Prices by Country

The export price in GCC stood at $X per unit in 2021, with a decrease of -8.4% against the previous year. Overall, the export price, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2019 an increase of 79%. The level of export peaked at $X per unit in 2020, and then dropped in the following year.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per unit), while Oman amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.5%).

Check Valve Imports

Imports in GCC

In 2021, supplies from abroad of check valves for pipes, boiler shells, tanks and vats was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 45% against the previous year. Over the period under review, imports reached the maximum at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, check valve imports expanded markedly to $X in 2021. The total import value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 34%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the major importing country with an import of about X units, which finished at 61% of total imports. Oman (X units) ranks second in terms of the total imports with a 24% share, followed by Kuwait (7.3%) and Bahrain (4.7%). Qatar (X units) held a minor share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +1.6% from 2012 to 2021. At the same time, Oman (+7.9%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +7.9% from 2012-2021. By contrast, Bahrain (-9.4%), Qatar (-10.3%) and Kuwait (-11.7%) illustrated a downward trend over the same period. Oman (+13 p.p.) and the United Arab Emirates (+12 p.p.) significantly strengthened its position in terms of the total imports, while Qatar, Bahrain and Kuwait saw its share reduced by -5%, -6% and -13.5% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported check valves for pipes, boiler shells, tanks and vats in GCC, comprising 38% of total imports. The second position in the ranking was held by Oman ($X), with a 13% share of total imports. It was followed by Qatar, with a 5.4% share.

In the United Arab Emirates, check valve imports expanded at an average annual rate of +2.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Oman (+10.7% per year) and Qatar (-9.3% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2021, shrinking by -4.6% against the previous year. Import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, check valve import price decreased by -14.1% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by 46%. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Qatar ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+11.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform