Greece: Tap And Valve Market 2024

Tap And Valve Market Size in Greece

In 2022, after two years of growth, there was decline in the Greek tap and valve market, when its value decreased by -0.9% to $X. Overall, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +24.4% against 2018 indices. Tap and valve consumption peaked at $X in 2021, and then fell in the following year.

Tap And Valve Production in Greece

In value terms, tap and valve production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% 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 -1.0% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 67%. Tap and valve production peaked at $X in 2020; afterwards, it flattened through to 2022.

Tap And Valve Exports

Exports from Greece

Tap and valve exports from Greece shrank dramatically to X tons in 2022, which is down by -17.2% against the previous year's figure. In general, exports saw a slight downturn. The growth pace was the most rapid in 2021 when exports increased by 21%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, tap and valve exports plummeted to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 21%. As a result, the exports attained the peak of $X, and then fell markedly in the following year.

Exports by Country

Italy (X tons), Serbia (X tons) and Cyprus (X tons) were the main destinations of tap and valve exports from Greece, with a combined 35% share of total exports. These countries were followed by Bulgaria, France, Albania, Romania, Germany, the UK, North Macedonia, Hungary, Poland and Spain, which together accounted for a further 51%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +136.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tap and valve exported from Greece were Cyprus ($X), Serbia ($X) and Bulgaria ($X), with a combined 36% share of total exports. Romania, Italy, Germany, Albania, North Macedonia, France, the UK, Poland, Spain and Hungary lagged somewhat behind, together accounting for a further 42%.

Hungary, with a CAGR of +115.0%, recorded the highest rates of growth with regard to the value of exports, among 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, leveling off at the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2013 an increase of 17% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to France ($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 Serbia (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Greece

In 2022, overseas purchases of taps, cocks, valves and similar appliances increased by 3.8% to X tons, rising for the third year in a row after two years of decline. Over the period under review, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +32.6% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 36%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, tap and valve imports dropped modestly to $X in 2022. In general, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +30.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 36%. As a result, imports attained the peak of $X, and then contracted modestly in the following year.

Imports by Country

Italy (X tons), China (X tons) and Germany (X tons) were the main suppliers of tap and valve imports to Greece, together accounting for 82% of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +12.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of taps, cocks, valves and similar appliances to Greece, comprising 38% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports. It was followed by Germany, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy amounted to +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.4% per year) and Germany (+7.5% per year).

Import Prices by Country

The average tap and valve import price stood at $X per ton in 2022, declining by -8.2% against the previous year. In general, the import price, however, recorded slight growth. The growth pace was the most rapid in 2018 an increase of 26%. The import price peaked at $X per ton in 2021, and then reduced in the following year.

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 Bulgaria ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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