Middle East: Safety Valve Market 2024

Safety Valve Market Size in the Middle East

The Middle Eastern safety valve market contracted markedly to $X in 2021, which is down by -40.6% against the previous year. In general, consumption, however, saw tangible growth. As a result, consumption reached the peak level of $X, and then reduced rapidly in the following year.

Safety Valve Production in the Middle East

In value terms, safety valve production declined notably to $X in 2021 estimated in export price. In general, production, however, posted prominent growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 190%. As a result, production reached the peak level of $X, and then dropped rapidly in the following year.

Safety Valve Exports

Exports in the Middle East

In 2021, overseas shipments of safety or relief valves for pipes, boiler shells, tanks and vats increased by 89% to X units, rising for the fifth consecutive year after two years of decline. In general, exports continue to indicate strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, safety valve exports soared to $X in 2021. Overall, exports continue to indicate a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Turkey (X units) represented the key exporter of safety or relief valves for pipes, boiler shells, tanks and vats, comprising 57% of total exports. It was distantly followed by the United Arab Emirates (X units) and Israel (X units), together making up a 40% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by the United Arab Emirates (with a CAGR of +24.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest safety valve supplying countries in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Israel ($X), with a combined 95% share of total exports.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of +21.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2021, with a decrease of -5.4% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2016 an increase of 18% against the previous year. The level of export peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

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 Turkey (+6.4%), while the other leaders experienced mixed trends in the export price figures.

Safety Valve Imports

Imports in the Middle East

In 2021, purchases abroad of safety or relief valves for pipes, boiler shells, tanks and vats increased by 35% to X units for the first time since 2017, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X units in 2015; afterwards, it flattened through to 2021.

In value terms, safety valve imports declined to $X in 2021. Overall, imports, however, showed a mild reduction. The most prominent rate of growth was recorded in 2013 with an increase of 17% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Turkey was the main importing country with an import of about X units, which reached 42% of total imports. The United Arab Emirates (X units) took the second position in the ranking, distantly followed by Iraq (X units), Bahrain (X units), Iran (X units), Oman (X units) and Kuwait (X units). All these countries together held approx. 54% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +9.0%), 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 2021, with a combined 44% share of total imports.

Turkey, with a CAGR of +7.2%, saw the highest growth rate of the value of imports, in terms of 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 the Middle East stood at $X per unit in 2021, dropping by -30.4% against the previous year. Overall, the import price showed a deep contraction. The most prominent rate of growth was recorded in 2019 an increase of 24%. Over the period under review, import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+4.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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