Jordan: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in Jordan

For the third year in a row, the Jordanian pressure-reducing iron valve market recorded decline in sales value, which decreased by -25.6% to $X in 2022. Over the period under review, consumption faced a abrupt descent. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Pressure-Reducing Iron Valve Exports

Exports from Jordan

Pressure-reducing iron valve exports from Jordan rose markedly to X units in 2022, increasing by 6.3% against 2021 figures. Overall, exports, however, faced a abrupt contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 186%. Over the period under review, the exports reached the maximum at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, pressure-reducing iron valve exports totaled $X in 2022. Over the period under review, exports, however, showed a noticeable slump. The growth pace was the most rapid in 2020 when exports increased by 338%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Free Zones (X units) was the main destination for pressure-reducing iron valve exports from Jordan, with a 64% share of total exports. Moreover, pressure-reducing iron valve exports to Free Zones exceeded the volume sent to the second major destination, Syrian Arab Republic (X units), threefold. Saudi Arabia (X units) ranked third in terms of total exports with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Free Zones stood at -14.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Syrian Arab Republic (0.0% per year) and Saudi Arabia (-31.1% per year).

In value terms, Free Zones ($X) emerged as the key foreign market for pressure-reducing, control, check and safety valves exports from Jordan, comprising 64% of total exports. The second position in the ranking was taken by Syrian Arab Republic ($X), with a 19% share of total exports. It was followed by Saudi Arabia, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Free Zones was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Syrian Arab Republic (0.0% per year) and Saudi Arabia (-20.7% per year).

Export Prices by Country

In 2022, the average pressure-reducing iron valve export price amounted to $X per unit, with an increase of 8.2% against the previous year. In general, the export price showed a strong increase. The most prominent rate of growth was recorded in 2016 when the average export price increased by 61%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Free Zones ($X per unit) and Iraq ($X per unit), while the average price for exports to Saudi Arabia ($X per unit) and Syrian Arab Republic ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Free Zones (+17.3%), while the prices for the other major destinations experienced more modest paces of growth.

Pressure-Reducing Iron Valve Imports

Imports into Jordan

For the third consecutive year, Jordan recorded decline in overseas purchases of pressure-reducing, control, check and safety valves, which decreased by -24% to X units in 2022. Over the period under review, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2014 with an increase of 44% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, pressure-reducing iron valve imports dropped remarkably to $X in 2022. Overall, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of 39% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X units), Italy (X units) and Turkey (X units) were the main suppliers of pressure-reducing iron valve imports to Jordan, with a combined 80% share of total imports. The United States, Germany, Switzerland and the UK lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +64.6%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest pressure-reducing iron valve suppliers to Jordan were the United States ($X), China ($X) and Italy ($X), together comprising 66% of total imports. Turkey, Germany, Switzerland and the UK lagged somewhat behind, together comprising a further 20%.

Switzerland, with a CAGR of +74.1%, 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 pressure-reducing iron valve import price amounted to $X per unit, declining by -1.5% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pressure-reducing iron valve import price increased by +81.2% against 2017 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 43%. Over the period under review, average import prices reached the maximum at $X per unit in 2021, and then reduced modestly 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 Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform