Latin America and the Caribbean: Check Valve Market 2024

Check Valve Market Size in Latin America and the Caribbean

The Latin American check valve market reduced to $X in 2021, declining by -14.6% against the previous year. The total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +41.3% against 2016 indices. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Check Valve Production in Latin America and the Caribbean

In value terms, check valve production fell markedly to $X in 2021 estimated in export price. Overall, production, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 2,929%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Check Valve Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of check valves for pipes, boiler shells, tanks and vats increased by 130% to X units, rising for the third consecutive year after six years of decline. In general, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, check valve exports surged to $X in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Mexico dominates exports structure, resulting at X units, which was near 91% of total exports in 2021. Brazil (X units) and Colombia (X units) held a minor share of total exports.

Mexico experienced a relatively flat trend pattern with regard to volume of exports of check valves for pipes, boiler shells, tanks and vats. At the same time, Colombia (+9.7%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +9.7% from 2012-2021. By contrast, Brazil (-5.1%) illustrated a downward trend over the same period. While the share of Mexico (+4.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Brazil (-2.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest check valve supplier in Latin America and the Caribbean, comprising 87% of total exports. The second position in the ranking was taken by Brazil ($X), with a 9.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico was relatively modest. In the other countries, the average annual rates were as follows: Brazil (+2.7% per year) and Colombia (+9.7% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, shrinking by -41.6% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 73%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Brazil ($X per unit), while Colombia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+8.3%), while the other leaders experienced a decline in the export price figures.

Check Valve Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of check valves for pipes, boiler shells, tanks and vats were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 18% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, check valve imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Mexico (X units) represented the main importer of check valves for pipes, boiler shells, tanks and vats, comprising 43% of total imports. It was distantly followed by Brazil (X units), Chile (X units), Peru (X units) and Colombia (X units), together constituting a 35% share of total imports. Belize (X units), Argentina (X units), Guatemala (X units), the Dominican Republic (X units), Ecuador (X units) and Honduras (X units) held a little share of total imports.

Mexico experienced a relatively flat trend pattern with regard to volume of imports of check valves for pipes, boiler shells, tanks and vats. At the same time, Belize (+53.7%), Honduras (+21.2%), the Dominican Republic (+12.2%), Peru (+9.7%), Guatemala (+3.4%), Brazil (+2.6%) and Chile (+2.3%) displayed positive paces of growth. Moreover, Belize emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +53.7% from 2012-2021. By contrast, Argentina (-3.7%), Ecuador (-5.6%) and Colombia (-6.5%) illustrated a downward trend over the same period. While the share of Belize (+3.4 p.p.), Brazil (+3.3 p.p.) and Peru (+3.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Colombia (-4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Brazil ($X) and Peru ($X) constituted the countries with the highest levels of imports in 2021, with a combined 78% share of total imports. These countries were followed by Chile, Colombia, Argentina, the Dominican Republic, Ecuador, Guatemala, Honduras and Belize, which together accounted for a further 17%.

Belize, with a CAGR of +33.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, picking up by 3.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2014 an increase of 22% against the previous year. Over the period under review, import prices reached the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Brazil ($X per unit), while Belize ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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