Latin America and the Caribbean: Safety Valve Market 2024

Safety Valve Market Size in Latin America and the Caribbean

The Latin American safety valve market shrank remarkably to $X in 2021, waning by -44.1% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then dropped remarkably in the following year.

Safety Valve Production in Latin America and the Caribbean

In value terms, safety valve production shrank remarkably to $X in 2021 estimated in export price. Overall, production, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 1,843%. As a result, production attained the peak level of $X, and then fell markedly in the following year.

Safety Valve Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of safety or relief valves for pipes, boiler shells, tanks and vats increased by 242% to X units, rising for the third consecutive year after three years of decline. Over the period under review, exports saw a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, safety valve exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +5.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico prevails in exports structure, amounting to X units, which was near 94% of total exports in 2021. Brazil (X units) took a little share of total exports.

Mexico was also the fastest-growing in terms of the safety or relief valves for pipes, boiler shells, tanks and vats exports, with a CAGR of +11.5% from 2012 to 2021. At the same time, Brazil (+2.2%) displayed positive paces of growth. From 2012 to 2021, the share of Mexico increased by +11 percentage points.

In value terms, Mexico ($X) remains the largest safety valve supplier in Latin America and the Caribbean, comprising 89% of total exports. The second position in the ranking was held by Brazil ($X), with a 6.4% share of total exports.

In Mexico, safety valve exports increased at an average annual rate of +7.4% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, waning by -59.3% against the previous year. Overall, the export price showed a noticeable downturn. The most prominent rate of growth was recorded in 2016 an increase of 126% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Brazil ($X per unit), while Mexico stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (-0.1%).

Safety Valve Imports

Imports in Latin America and the Caribbean

In 2021, the amount of safety or relief valves for pipes, boiler shells, tanks and vats imported in Latin America and the Caribbean surged to X units, increasing by 24% compared with the previous year. The total import volume increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports attained the maximum at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, safety valve imports skyrocketed to $X in 2021. In general, imports saw a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Mexico represented the key importing country with an import of about X units, which finished at 54% of total imports. It was distantly followed by Brazil (X units) and Chile (X units), together achieving a 17% share of total imports. Peru (X units), Colombia (X units), Argentina (X units), Guatemala (X units), Ecuador (X units) and Trinidad and Tobago (X units) held a minor share of total imports.

Imports into Mexico increased at an average annual rate of +5.0% from 2012 to 2021. At the same time, Ecuador (+16.1%), Chile (+8.0%), Guatemala (+3.9%), Peru (+2.9%) and Brazil (+1.4%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +16.1% from 2012-2021. By contrast, Argentina (-2.3%), Colombia (-2.4%) and Trinidad and Tobago (-4.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico, Chile and Ecuador increased by +13, +2.6 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Brazil ($X) and Chile ($X) constituted the countries with the highest levels of imports in 2021, together comprising 75% of total imports. Colombia, Peru, Argentina, Trinidad and Tobago, Ecuador and Guatemala lagged somewhat behind, together comprising a further 18%.

Among the main importing countries, Ecuador, with a CAGR of +9.4%, 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 2021, the import price in Latin America and the Caribbean amounted to $X per unit, with a decrease of -5.2% against the previous year. Overall, the import price recorded a mild slump. The most prominent rate of growth was recorded in 2015 an increase of 11% against the previous year. The level of import peaked at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Brazil ($X per unit), while Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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