Japan: Safety Valve Market 2024

Safety Valve Market Size in Japan

In 2021, after four years of growth, there was significant decline in the Japanese safety valve market, when its value decreased by -36.5% to $X. In general, consumption, however, showed a resilient expansion. As a result, consumption attained the peak level of $X, and then reduced dramatically in the following year.

Safety Valve Production in Japan

In value terms, safety valve production declined markedly to $X in 2021 estimated in export price. Overall, production, however, saw buoyant growth. The growth pace was the most rapid in 2020 with an increase of 238% against the previous year. As a result, production attained the peak level of $X, and then fell rapidly in the following year.

Safety Valve Exports

Exports from Japan

In 2021, approx. X units of safety or relief valves for pipes, boiler shells, tanks and vats were exported from Japan; increasing by 12% on the previous year's figure. Over the period under review, exports, however, continue to indicate a perceptible reduction. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, safety valve exports amounted to $X in 2021. Overall, exports, however, recorded a noticeable decrease. The pace of growth appeared the most rapid in 2019 when exports increased by 26%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

China (X units), the United States (X units) and South Korea (X units) were the main destinations of safety valve exports from Japan, with a combined 65% share of total exports. These countries were followed by Thailand, the UK, Vietnam, India, Indonesia, Poland and Mexico, which together accounted for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +29.3%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and South Korea ($X) were the largest markets for safety valve exported from Japan worldwide, with a combined 67% share of total exports. Thailand, the UK, Indonesia, India, Mexico, Vietnam and Poland lagged somewhat behind, together comprising a further 19%.

Vietnam, with a CAGR of +36.3%, recorded the highest growth rate of 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 safety valve export price stood at $X per unit in 2021, remaining constant against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2019 an increase of 21%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to South Korea ($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 Vietnam (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Safety Valve Imports

Imports into Japan

After three years of decline, supplies from abroad of safety or relief valves for pipes, boiler shells, tanks and vats increased by 55% to X units in 2021. Overall, imports showed a strong expansion. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, safety valve imports skyrocketed to $X in 2021. In general, imports recorded a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of 41% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Vietnam (X units), China (X units) and Israel (X units) were the main suppliers of safety valve imports to Japan, with a combined 57% share of total imports. These countries were followed by South Korea, the Philippines, Taiwan (Chinese), Germany, Spain, Mexico, the United States and Italy, which together accounted for a further 35%.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +218.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest safety valve suppliers to Japan were the United States ($X), Vietnam ($X) and Germany ($X), with a combined 43% share of total imports. These countries were followed by China, Israel, Mexico, Spain, the Philippines, Italy, South Korea and Taiwan (Chinese), which together accounted for a further 41%.

The Philippines, with a CAGR of +199.2%, saw 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

The average safety valve import price stood at $X per unit in 2021, waning by -13.7% against the previous year. Overall, the import price saw a pronounced setback. The pace of growth appeared the most rapid in 2019 an increase of 13% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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