Middle East: Tap And Valve Market 2024

Tap And Valve Market Size in the Middle East

The Middle Eastern tap and valve market fell to $X in 2022, waning by -14.6% against the previous year. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Tap And Valve Production in the Middle East

In value terms, tap and valve production fell notably to $X in 2022 estimated in export price. In general, production posted a buoyant expansion. The pace of growth appeared the most rapid in 2018 when the production volume increased by 67% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Tap And Valve Exports

Exports in the Middle East

In 2022, shipments abroad of taps, cocks, valves and similar appliances increased by 3.2% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 18%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, tap and valve exports rose significantly to $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 +21.5% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 22%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

Turkey represented the key exporter of taps, cocks, valves and similar appliances in the Middle East, with the volume of exports reaching X tons, which was approx. 69% of total exports in 2022. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 17% share, followed by Israel (8.7%). Saudi Arabia (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the taps, cocks, valves and similar appliances exports, with a CAGR of +5.2% from 2012 to 2022. At the same time, the United Arab Emirates (+2.5%), Saudi Arabia (+2.5%) and Israel (+1.8%) displayed positive paces of growth. Turkey (+5 p.p.) significantly strengthened its position in terms of the total exports, while Israel and the United Arab Emirates saw its share reduced by -2.4% and -3.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest tap and valve supplier in the Middle East, comprising 52% of total exports. The second position in the ranking was held by Israel ($X), with a 23% share of total exports. It was followed by the United Arab Emirates, with a 20% share.

In Turkey, tap and valve exports expanded at an average annual rate of +6.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (+3.7% per year) and the United Arab Emirates (+9.8% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, increasing by 3.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2017 when the export price increased by 11% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.1%), while the other leaders experienced more modest paces of growth.

Tap And Valve Imports

Imports in the Middle East

In 2022, after two years of growth, there was significant decline in supplies from abroad of taps, cocks, valves and similar appliances, when their volume decreased by -24% to X tons. Over the period under review, imports recorded a pronounced reduction. The most prominent rate of growth was recorded in 2016 with an increase of 11%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, tap and valve imports contracted dramatically to $X in 2022. In general, imports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2021 with an increase of 11% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X tons), distantly followed by Turkey (X tons), Iraq (X tons), Oman (X tons), Iran (X tons) and Kuwait (X tons) were the largest importers of taps, cocks, valves and similar appliances, together creating 85% of total imports. Israel (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Oman (with a CAGR of +5.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tap and valve importing markets in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Oman ($X), together accounting for 68% of total imports.

Among the main importing countries, Oman, with a CAGR of +6.4%, saw the highest growth rate of 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 2022, the import price in the Middle East amounted to $X per ton, rising by 2.8% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 18% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+1.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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