Latin America and the Caribbean: Tap And Valve Market 2024

Tap And Valve Market Size in Latin America and the Caribbean

The Latin American tap and valve market was estimated at $X in 2022, therefore, remained relatively stable against the previous year. Over the period under review, consumption continues to indicate a perceptible slump. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Tap And Valve Production in Latin America and the Caribbean

In value terms, tap and valve production shrank modestly to $X in 2022 estimated in export price. Overall, production, however, saw a pronounced slump. The growth pace was the most rapid in 2016 with an increase of 23% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Tap And Valve Exports

Exports in Latin America and the Caribbean

In 2022, tap and valve exports in Latin America and the Caribbean skyrocketed to X tons, increasing by 29% on the previous year. Over the period under review, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 75% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, tap and valve exports expanded rapidly to $X in 2022. The total export value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 16% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

Mexico prevails in exports structure, finishing at X tons, which was near 88% of total exports in 2022. It was distantly followed by Brazil (X tons), creating a 6.5% share of total exports. Argentina (X tons) took a relatively small share of total exports.

Mexico was also the fastest-growing in terms of the taps, cocks, valves and similar appliances exports, with a CAGR of +6.2% from 2012 to 2022. Argentina and Brazil experienced a relatively flat trend pattern. From 2012 to 2022, the share of Mexico increased by +9.8 percentage points.

In value terms, Mexico ($X) remains the largest tap and valve supplier in Latin America and the Caribbean, comprising 79% of total exports. The second position in the ranking was held by Brazil ($X), with a 14% share of total exports.

In Mexico, tap and valve exports expanded at an average annual rate of +5.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (-0.9% per year) and Argentina (-5.9% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, shrinking by -13% against the previous year. Overall, the export price showed a mild curtailment. The growth pace was the most rapid in 2016 when the export price increased by 50%. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (-0.1%), while the other leaders experienced a decline in the export price figures.

Tap And Valve Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of taps, cocks, valves and similar appliances increased by 3.8% to X tons, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 18%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, tap and valve imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 21%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Mexico (X tons) represented the main importer of taps, cocks, valves and similar appliances, generating 38% of total imports. Brazil (X tons) held the second position in the ranking, distantly followed by Argentina (X tons), Chile (X tons), Peru (X tons) and Colombia (X tons). All these countries together took approx. 43% share of total imports. Guatemala (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to tap and valve imports into Mexico stood at +1.6%. At the same time, Guatemala (+6.6%), Brazil (+3.6%), Argentina (+3.4%), Peru (+2.4%) and Chile (+2.2%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +6.6% from 2012-2022. By contrast, Colombia (-3.2%) illustrated a downward trend over the same period. Brazil (+3.3 p.p.) significantly strengthened its position in terms of the total imports, while Colombia saw its share reduced by -2.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest tap and valve importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Argentina ($X), together accounting for 75% of total imports. Chile, Colombia, Peru and Guatemala lagged somewhat behind, together accounting for a further 13%.

Among the main importing countries, Guatemala, with a CAGR of +5.8%, recorded 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 import price in Latin America and the Caribbean amounted to $X per ton, surging by 8% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by 15%. Over the period under review, import prices reached the maximum in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :