Ireland: Tap And Valve Market 2024

Tap And Valve Exports

Exports from Ireland

In 2022, exports of taps, cocks, valves and similar appliances from Ireland expanded markedly to X tons, picking up by 10% compared with 2021. In general, exports, however, showed a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 10%. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, tap and valve exports expanded significantly to $X in 2022. Over the period under review, exports, however, continue to indicate a mild slump. The most prominent rate of growth was recorded in 2013 with an increase of 32%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The UK (X tons) was the main destination for tap and valve exports from Ireland, accounting for a 36% share of total exports. Moreover, tap and valve exports to the UK exceeded the volume sent to the second major destination, the United States (X tons), threefold. France (X tons) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume to the UK stood at -6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+8.5% per year) and France (-2.6% per year).

In value terms, the largest markets for tap and valve exported from Ireland were the UK ($X), the United States ($X) and Singapore ($X), with a combined 51% share of total exports.

Among the main countries of destination, Singapore, with a CAGR of +18.5%, 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

In 2022, the average tap and valve export price amounted to $X per ton, remaining stable against the previous year. Overall, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tap and valve export price increased by +66.6% against 2019 indices. The pace of growth was the most pronounced in 2020 an increase of 39%. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Brazil ($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 Singapore (+19.5%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Ireland

In 2022, overseas purchases of taps, cocks, valves and similar appliances were finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, tap and valve imports surged to $X in 2022. Overall, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +8.0% 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 +105.3% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The UK (X tons), China (X tons) and France (X tons) were the main suppliers of tap and valve imports to Ireland, together comprising 71% of total imports. These countries were followed by Italy, the United States, Germany, Spain and Belgium, which together accounted for a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +24.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tap and valve suppliers to Ireland were the United States ($X), the UK ($X) and China ($X), together comprising 63% of total imports. These countries were followed by Germany, Italy, France, Spain and Belgium, which together accounted for a further 19%.

Spain, with a CAGR of +18.2%, recorded the highest growth rate of the value of imports, in terms of 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 2022, the average tap and valve import price amounted to $X per ton, which is down by -11.2% against the previous year. In general, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tap and valve import price increased by +21.7% against 2016 indices. The growth pace was the most rapid in 2021 an increase of 25% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank 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 the United States ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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