MENA: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in MENA

After two years of decline, the MENA's pressure-reducing iron valve market increased by 57% to $X in 2022. In general, consumption, however, saw a pronounced shrinkage. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Pressure-Reducing Iron Valve Production in MENA

In value terms, pressure-reducing iron valve production fell to $X in 2022 estimated in export price. Over the period under review, production posted a resilient increase. The pace of growth appeared the most rapid in 2014 when the production volume increased by 44%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Pressure-Reducing Iron Valve Exports

Exports in MENA

In 2022, shipments abroad of pressure-reducing, control, check and safety valves increased by 2.5% to X units, rising for the second year in a row after three years of decline. Overall, exports enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2015 with an increase of 124% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, pressure-reducing iron valve exports rose modestly to $X in 2022. Over the period under review, exports recorded a moderate expansion. The pace of growth appeared the most rapid in 2015 with an increase of 120%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Turkey represented the key exporter of pressure-reducing, control, check and safety valves in MENA, with the volume of exports finishing at X units, which was near 66% of total exports in 2022. The United Arab Emirates (X units) held an 18% share (based on physical terms) of total exports, which put it in second place, followed by Israel (5.8%) and Bahrain (5.3%). Oman (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to pressure-reducing iron valve exports from Turkey stood at +7.0%. At the same time, Bahrain (+38.4%) and Oman (+37.6%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in MENA, with a CAGR of +38.4% from 2012-2022. Israel experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-2.3%) illustrated a downward trend over the same period. While the share of Turkey (+20 p.p.), Bahrain (+5 p.p.) and Oman (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-13.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest pressure-reducing iron valve supplier in MENA, comprising 60% of total exports. The second position in the ranking was held by Israel ($X), with a 17% share of total exports. It was followed by the United Arab Emirates, with a 16% share.

In Turkey, pressure-reducing iron valve exports expanded at an average annual rate of +9.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Israel (+0.5% per year) and the United Arab Emirates (-0.8% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, increasing by 1.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2017 an increase of 27%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.5%), while the other leaders experienced mixed trends in the export price figures.

Pressure-Reducing Iron Valve Imports

Imports in MENA

Pressure-reducing iron valve imports declined slightly to X units in 2022, approximately reflecting 2021 figures. The total import volume increased at an average annual rate of +1.8% 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 2015 with an increase of 31%. The volume of import peaked at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, pressure-reducing iron valve imports fell slightly to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 13%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Kuwait (X units), Turkey (X units), Egypt (X units), the United Arab Emirates (X units) and Iraq (X units) represented roughly 76% of total imports in 2022. It was distantly followed by Algeria (X units), comprising a 6.1% share of total imports. Morocco (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +12.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Kuwait ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 38% of total imports.

Kuwait, with a CAGR of +10.6%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per unit in 2022, dropping by -3.4% against the previous year. Overall, the import price recorded a noticeable reduction. The most prominent rate of growth was recorded in 2020 when the import price increased by 11%. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Turkey ($X per unit), while Iraq ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+2.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform