Middle East: Check Valve Market 2024

Check Valve Market Size in the Middle East

In 2021, the Middle Eastern check valve market decreased by -28.6% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption, however, recorded prominent growth. As a result, consumption attained the peak level of $X, and then dropped significantly in the following year.

Check Valve Production in the Middle East

In value terms, check valve production reduced markedly to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by 233% against the previous year. As a result, production reached the peak level of $X, and then declined dramatically in the following year.

Check Valve Exports

Exports in the Middle East

In 2021, overseas shipments of check valves for pipes, boiler shells, tanks and vats increased by 51% to X units for the first time since 2018, thus ending a two-year declining trend. In general, exports showed strong growth. The pace of growth appeared the most rapid in 2017 when exports increased by 63% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, check valve exports surged to $X in 2021. Overall, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2017 when exports increased by 50%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

Turkey represented the key exporter of check valves for pipes, boiler shells, tanks and vats in the Middle East, with the volume of exports amounting to X units, which was near 75% of total exports in 2021. The United Arab Emirates (X units) held a 14% share (based on physical terms) of total exports, which put it in second place, followed by Israel (9.2%).

Turkey was also the fastest-growing in terms of the check valves for pipes, boiler shells, tanks and vats exports, with a CAGR of +11.6% from 2012 to 2021. At the same time, Israel (+8.9%) displayed positive paces of growth. The United Arab Emirates experienced a relatively flat trend pattern. From 2012 to 2021, the share of Turkey increased by +18 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest check valve supplier in the Middle East, comprising 53% of total exports. The second position in the ranking was taken by Israel ($X), with a 25% share of total exports.

In Turkey, check valve exports increased at an average annual rate of +13.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Israel (+9.3% per year) and the United Arab Emirates (+9.2% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2021, shrinking by -9.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2019 an increase of 28% against the previous year. The level of export peaked at $X per unit in 2020, and then dropped in the following year.

Prices varied noticeably country of origin: the country with the highest price was Israel ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.5%), while the other leaders experienced more modest paces of growth.

Check Valve Imports

Imports in the Middle East

In 2021, supplies from abroad of check valves for pipes, boiler shells, tanks and vats increased by 17% to X units for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by 25%. The volume of import peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, check valve imports totaled $X in 2021. The total import value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2013 with an increase of 27%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the key importer of check valves for pipes, boiler shells, tanks and vats in the Middle East, with the volume of imports amounting to X units, which was near 35% of total imports in 2021. Turkey (X units) held the second position in the ranking, followed by Oman (X units), Iran (X units) and Iraq (X units). All these countries together held approx. 49% share of total imports. The following importers - Kuwait (X units), Israel (X units) and Jordan (X units) - together made up 10% of total imports.

From 2012 to 2021, average annual rates of growth with regard to check valve imports into the United Arab Emirates stood at +1.6%. At the same time, Oman (+7.9%), Turkey (+5.5%), Israel (+3.1%) and Jordan (+2.1%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +7.9% from 2012-2021. By contrast, Iraq (-4.1%), Iran (-4.2%) and Kuwait (-11.7%) illustrated a downward trend over the same period. Oman (+7.2 p.p.), Turkey (+7 p.p.) and the United Arab Emirates (+6.2 p.p.) significantly strengthened its position in terms of the total imports, while Iraq, Iran and Kuwait saw its share reduced by -2.9%, -4% and -7.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Oman ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 52% share of total imports.

In terms of the main importing countries, Oman, with a CAGR of +10.7%, saw the highest rates of growth with regard to 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 2021, the import price in the Middle East amounted to $X per unit, shrinking by -2.2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2013 an increase of 32% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Israel ($X per unit), while Iraq ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+3.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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