Italy: Tap And Valve Market 2024

Tap And Valve Market Size in Italy

The Italian tap and valve market surged to $X in 2022, growing by 30% against the previous year. In general, consumption continues to indicate a notable expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Tap And Valve Production in Italy

In value terms, tap and valve production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 36%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Tap And Valve Exports

Exports from Italy

In 2022, approx. X tons of taps, cocks, valves and similar appliances were exported from Italy; which is down by -3.8% on 2021. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 10%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, tap and valve exports dropped to $X in 2022. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 17% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X tons), the United States (X tons) and France (X tons) were the main destinations of tap and valve exports from Italy, with a combined 32% share of total exports. These countries were followed by China, Saudi Arabia, the UK, Spain, Russia, Poland, Turkey, the Netherlands, the United Arab Emirates and Belgium, which together accounted for a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +3.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tap and valve exported from Italy were Germany ($X), the United States ($X) and France ($X), together accounting for 30% of total exports. China, the UK, Saudi Arabia, Spain, Russia, the Netherlands, Poland, Turkey, the United Arab Emirates and Belgium lagged somewhat behind, together comprising a further 33%.

Among the main countries of destination, China, with a CAGR of +5.3%, recorded 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, waning by -1.6% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 8% against the previous year. 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 stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Saudi Arabia ($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 China (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Italy

In 2022, overseas purchases of taps, cocks, valves and similar appliances increased by 16% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, tap and valve imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 26%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X tons), Germany (X tons) and France (X tons) were the main suppliers of tap and valve imports to Italy, together comprising 70% of total imports. Denmark, Spain, Poland, the Czech Republic, Belgium, Bulgaria and the UK lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +10.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of taps, cocks, valves and similar appliances to Italy, comprising 37% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by Denmark, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+3.2% per year) and Denmark (+5.0% per year).

Import Prices by Country

In 2022, the average tap and valve import price amounted to $X per ton, which is down by -8.2% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 7.8%. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then contracted 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 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 Poland (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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