Japan: Tap And Valve Market 2024

Tap And Valve Market Size in Japan

The Japanese tap and valve market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption, however, continues to indicate a slight contraction. Tap and valve consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Tap And Valve Production in Japan

In value terms, tap and valve production declined to $X in 2022 estimated in export price. Overall, production showed a perceptible slump. The pace of growth was the most pronounced in 2016 with an increase of 15%. Tap and valve production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Tap And Valve Exports

Exports from Japan

Tap and valve exports from Japan shrank to X tons in 2022, declining by -5.5% compared with the year before. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 17% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, tap and valve exports shrank to $X in 2022. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 18%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

China (X tons) was the main destination for tap and valve exports from Japan, with a 34% share of total exports. Moreover, tap and valve exports to China exceeded the volume sent to the second major destination, the United States (X tons), twofold. South Korea (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+0.4% per year) and South Korea (+0.0% per year).

In value terms, China ($X), the United States ($X) and South Korea ($X) constituted the largest markets for tap and valve exported from Japan worldwide, with a combined 60% share of total exports. These countries were followed by Thailand, Taiwan (Chinese), Indonesia, India, Germany, Vietnam, the UK, Brazil and the United Arab Emirates, which together accounted for a further 21%.

In terms of the main countries of destination, Vietnam, with a CAGR of +4.1%, 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

The average tap and valve export price stood at $X per ton in 2022, standing approx. at the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 6.8% against the previous year. The export price peaked at $X per ton in 2021, and then declined modestly in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to India ($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 Taiwan (Chinese) (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Japan

In 2022, overseas purchases of taps, cocks, valves and similar appliances increased by 3.9% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 10% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, tap and valve imports amounted to $X in 2022. In general, imports showed a slight increase. The most prominent rate of growth was recorded in 2014 with an increase of 11% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

China (X tons), Vietnam (X tons) and Thailand (X tons) were the main suppliers of tap and valve imports to Japan, with a combined 74% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +2.4%), while purchases for the other leaders experienced a decline.

In value terms, China ($X), the United States ($X) and Vietnam ($X) constituted the largest tap and valve suppliers to Japan, together accounting for 58% of total imports. These countries were followed by Germany, Taiwan (Chinese), South Korea and Thailand, which together accounted for a further 19%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +1.4%, saw the highest growth rate of the value of imports, 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, remaining stable against the previous year. In general, the import price showed a modest increase. The most prominent rate of growth was recorded in 2018 an increase of 4.7%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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