Malaysia: Tap And Valve Market 2024

Tap And Valve Exports

Exports from Malaysia

In 2022, overseas shipments of taps, cocks, valves and similar appliances decreased by -4.3% to X tons, falling for the second year in a row after three years of growth. The total export volume increased at an average annual rate of +2.4% 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 2014 when exports increased by 29% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, tap and valve exports reduced slightly to $X in 2022. In general, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +38.7% against 2017 indices. The pace of growth appeared the most rapid in 2014 with an increase of 50%. The exports peaked at $X in 2021, and then contracted slightly in the following year.

Exports by Country

China (X tons), Singapore (X tons) and Vietnam (X tons) were the main destinations of tap and valve exports from Malaysia, with a combined 43% share of total exports. These countries were followed by Indonesia, the United States, Thailand, Sri Lanka, India, the Philippines, Australia, Bangladesh, the United Arab Emirates and Brunei Darussalam, which together accounted for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +30.6%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for taps, cocks, valves and similar appliances exports from Malaysia, comprising 29% of total exports. The second position in the ranking was held by Singapore ($X), with a 15% share of total exports. It was followed by the United States, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+5.7% per year) and the United States (+28.4% per year).

Export Prices by Country

In 2022, the average tap and valve export price amounted to $X per ton, increasing by 3.1% against the previous year. In general, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +3.4% 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 +62.3% against 2015 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 21% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Vietnam ($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 Bangladesh (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Malaysia

In 2022, overseas purchases of taps, cocks, valves and similar appliances decreased by -17.6% to X tons, falling for the fifth year in a row after two years of growth. Overall, imports saw a perceptible slump. The most prominent rate of growth was recorded in 2017 with an increase of 18%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, tap and valve imports shrank to $X in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 37%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest tap and valve supplier to Malaysia, accounting for a 62% share of total imports. Moreover, tap and valve imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), ninefold. Thailand (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.7% per year) and Thailand (-0.7% per year).

In value terms, China ($X) constituted the largest supplier of taps, cocks, valves and similar appliances to Malaysia, comprising 39% of total imports. The second position in the ranking was held by the United States ($X), with a 15% share of total imports. It was followed by Japan, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.3% per year) and Japan (-3.9% per year).

Import Prices by Country

In 2022, the average tap and valve import price amounted to $X per ton, surging by 4.8% against the previous year. In general, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.9% 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 import price increased by +65.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 58% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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