Myanmar: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in Myanmar

The Myanmar's pressure-reducing iron valve market reduced markedly to $X in 2022, which is down by -38.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a deep setback. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Pressure-Reducing Iron Valve Exports

Exports from Myanmar

In 2022, exports of pressure-reducing, control, check and safety valves from Myanmar soared to X units, rising by 26% on the year before. Over the period under review, exports, however, continue to indicate a sharp contraction. The most prominent rate of growth was recorded in 2020 with an increase of 6,886%. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, pressure-reducing iron valve exports amounted to $X in 2022. In general, exports, however, showed a precipitous setback. The pace of growth was the most pronounced in 2020 when exports increased by 6,544% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X units) was the main destination for pressure-reducing iron valve exports from Myanmar, with a 93% share of total exports. It was followed by Canada (X units), with a 2.3% share of total exports. The third position in this ranking was held by Thailand (X units), with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Malaysia totaled -33.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-19.7% per year) and Thailand (-48.3% per year).

In value terms, Malaysia ($X) remains the key foreign market for pressure-reducing, control, check and safety valves exports from Myanmar, comprising 89% of total exports. The second position in the ranking was held by Thailand ($X), with an 8.4% share of total exports. It was followed by Canada, with a 1.1% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia totaled -44.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-50.0% per year) and Canada (-36.6% per year).

Export Prices by Country

In 2022, the average pressure-reducing iron valve export price amounted to $X per unit, reducing by -20.5% against the previous year. Over the period under review, the export price faced a deep contraction. The pace of growth appeared the most rapid in 2019 when the average export price increased by 363%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (-3.2%), while the prices for the other major destinations experienced a decline.

Pressure-Reducing Iron Valve Imports

Imports into Myanmar

In 2022, approx. X units of pressure-reducing, control, check and safety valves were imported into Myanmar; reducing by -10.4% against the year before. Overall, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 7,970%. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, pressure-reducing iron valve imports dropped rapidly to $X in 2022. In general, imports showed a abrupt decline. The pace of growth appeared the most rapid in 2014 when imports increased by 5,320%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Thailand (X units), China (X units) and India (X units) were the main suppliers of pressure-reducing iron valve imports to Myanmar, with a combined 95% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +28.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of pressure-reducing, control, check and safety valves to Myanmar, comprising 54% of total imports. The second position in the ranking was held by Thailand ($X), with a 16% share of total imports. It was followed by India, with an 8.8% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-12.6% per year) and India (-4.7% per year).

Import Prices by Country

The average pressure-reducing iron valve import price stood at $X per unit in 2022, declining by -31.7% against the previous year. In general, the import price faced a abrupt contraction. The pace of growth appeared the most rapid in 2020 when the average import price increased by 48% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+29.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform