Luxembourg: Tap And Valve Market 2024

Tap And Valve Market Size in Luxembourg

The Luxembourg tap and valve market declined remarkably to $X in 2022, reducing by -30.5% against the previous year. Overall, consumption recorded a mild decrease. Tap and valve consumption peaked at $X in 2021, and then fell rapidly in the following year.

Tap And Valve Production in Luxembourg

In value terms, tap and valve production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, showed a deep setback. The pace of growth appeared the most rapid in 2018 with an increase of 115% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Tap And Valve Exports

Exports from Luxembourg

In 2022, overseas shipments of taps, cocks, valves and similar appliances increased by 16% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, continue to indicate a slight downturn. The pace of growth appeared the most rapid in 2018 with an increase of 38% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, tap and valve exports expanded markedly to $X in 2022. Overall, total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +40.3% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 88% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Germany (X tons) was the main destination for tap and valve exports from Luxembourg, accounting for a 21% share of total exports. Moreover, tap and valve exports to Germany exceeded the volume sent to the second major destination, Belgium (X tons), twofold. The Netherlands (X tons) ranked third in terms of total exports with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at -2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+2.8% per year) and the Netherlands (+5.8% per year).

In value terms, the largest markets for tap and valve exported from Luxembourg were the United States ($X), Germany ($X) and China ($X), with a combined 44% share of total exports. These countries were followed by South Korea, France, the UK, Belgium, Italy, the Netherlands, Spain, the Czech Republic, Poland and Slovakia, which together accounted for a further 36%.

South Korea, with a CAGR of +19.8%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination 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, waning by -1.6% against the previous year. Overall, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tap and valve export price increased by +76.1% against 2017 indices. The pace of growth appeared the most rapid in 2018 when the average export price increased by 36% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to the Netherlands ($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 China (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Luxembourg

In 2022, the amount of taps, cocks, valves and similar appliances imported into Luxembourg declined slightly to X tons, stabilizing at 2021 figures. In general, total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +32.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 34%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, tap and valve imports dropped slightly to $X in 2022. Overall, total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.2% against 2015 indices. The pace of growth appeared the most rapid in 2021 with an increase of 19%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

Germany (X tons), China (X tons) and Belgium (X tons) were the main suppliers of tap and valve imports to Luxembourg, with a combined 72% share of total imports. Italy, the United States, France, Israel and Thailand lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +49.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of taps, cocks, valves and similar appliances to Luxembourg, comprising 42% of total imports. The second position in the ranking was taken by Belgium ($X), with a 14% share of total imports. It was followed by Italy, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+2.9% per year) and Italy (+6.0% per year).

Import Prices by Country

In 2022, the average tap and valve import price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 66% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 France ($X per ton), while the price for Thailand ($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 (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :