Malaysia: Check Valve Market 2024

Check Valve Market Size in Malaysia

In 2021, after three years of growth, there was significant decline in the Malaysian check valve market, when its value decreased by -6.3% to $X. In general, consumption, however, continues to indicate a measured increase. Check valve consumption peaked at $X in 2020, and then contracted in the following year.

Check Valve Exports

Exports from Malaysia

In 2021, shipments abroad of check valves for pipes, boiler shells, tanks and vats decreased by -6.4% to X units, falling for the third consecutive year after two years of growth. Overall, exports saw a pronounced curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 93%. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, check valve exports shrank to $X in 2021. In general, exports, however, saw a tangible expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 108% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Singapore (X units), Indonesia (X units) and Vietnam (X units) were the main destinations of check valve exports from Malaysia, together comprising 59% of total exports. Thailand, the Philippines, Bangladesh, Sri Lanka, the United Arab Emirates, Australia, China and India lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +39.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the key foreign market for check valves for pipes, boiler shells, tanks and vats exports from Malaysia, comprising 42% of total exports. The second position in the ranking was held by Thailand ($X), with an 8.5% share of total exports. It was followed by Indonesia, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore totaled +8.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+20.8% per year) and Indonesia (+5.2% per year).

Export Prices by Country

The average check valve export price stood at $X per unit in 2021, stabilizing at the previous year. Overall, the export price continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2018 an increase of 58% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Singapore ($X per unit), while the average price for exports to Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Check Valve Imports

Imports into Malaysia

In 2021, purchases abroad of check valves for pipes, boiler shells, tanks and vats decreased by -16.4% to X units, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2018 when imports increased by 78% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, check valve imports expanded to $X in 2021. In general, imports continue to indicate a slight contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 46%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of check valve to Malaysia, with a 66% share of total imports. Moreover, check valve imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), fourfold. The third position in this ranking was taken by the United States (X units), with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+2.1% per year) and the United States (+4.2% per year).

In value terms, China ($X) constituted the largest supplier of check valves for pipes, boiler shells, tanks and vats to Malaysia, comprising 42% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with an 11% share of total imports. It was followed by Thailand, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-7.5% per year) and Thailand (+14.7% per year).

Import Prices by Country

In 2021, the average check valve import price amounted to $X per unit, increasing by 25% against the previous year. Overall, the import price, however, saw a deep setback. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Thailand ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+10.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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