Ghana: Check Valve Market 2024

Check Valve Market Size in Ghana

The Ghanian check valve market amounted to $X in 2021, growing by 13% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a buoyant increase. Check valve consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Check Valve Exports

Exports from Ghana

Check valve exports from Ghana reduced slightly to X units in 2021, dropping by -1.7% against the previous year's figure. Overall, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2014 with an increase of 410% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, check valve exports dropped modestly to $X in 2021. In general, exports showed a perceptible decrease. The pace of growth appeared the most rapid in 2014 when exports increased by 129% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Norway (X units) was the main destination for check valve exports from Ghana, with a 86% share of total exports. Moreover, check valve exports to Norway exceeded the volume sent to the second major destination, Burkina Faso (X units), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Norway totaled +38.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (-22.0% per year) and Cote d'Ivoire (-41.0% per year).

In value terms, Norway ($X) remains the key foreign market for check valves for pipes, boiler shells, tanks and vats exports from Ghana, comprising 99% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a 0.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Norway amounted to +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (-32.4% per year) and Cote d'Ivoire (-55.7% per year).

Export Prices by Country

The average check valve export price stood at $X per unit in 2021, stabilizing at the previous year. Overall, the export price, however, enjoyed prominent growth. The growth pace was the most rapid in 2017 an increase of 590%. The export price peaked at $X per unit in 2020, and then fell slightly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Norway ($X per unit), while the average price for exports to Burkina Faso ($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 Burkina Faso (-13.7%), while the prices for the other major destinations experienced a decline.

Check Valve Imports

Imports into Ghana

In 2021, the amount of check valves for pipes, boiler shells, tanks and vats imported into Ghana rose to X units, with an increase of 4.4% compared with the year before. Over the period under review, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 147%. Imports peaked at X units in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, check valve imports surged to $X in 2021. Overall, imports posted a prominent expansion. The pace of growth appeared the most rapid in 2013 with an increase of 90%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of check valve to Ghana, with a 70% share of total imports. Moreover, check valve imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. Norway (X units) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +26.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+44.0% per year) and Norway (+170.9% per year).

In value terms, the largest check valve suppliers to Ghana were Norway ($X), China ($X) and Italy ($X), together accounting for 75% of total imports.

Norway, with a CAGR of +165.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average check valve import price amounted to $X per unit, increasing by 32% against the previous year. In general, the import price, however, recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 an increase of 122% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+16.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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