Myanmar: Tap And Valve Market 2024

Tap And Valve Market Size in Myanmar

The Myanmar's tap and valve market expanded notably to $X in 2022, surging by 6.6% against the previous year. Overall, consumption, however, saw a mild slump. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Tap And Valve Production in Myanmar

In value terms, tap and valve production expanded rapidly to $X in 2022 estimated in export price. Overall, production, however, recorded a noticeable decline. The pace of growth was the most pronounced in 2018 when the production volume increased by 32%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Tap And Valve Exports

Exports from Myanmar

In 2022, overseas shipments of taps, cocks, valves and similar appliances decreased by -91% to X kg, falling for the fourth year in a row after four years of growth. Overall, exports faced a sharp contraction. The most prominent rate of growth was recorded in 2015 when exports increased by 683%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, tap and valve exports declined sharply to $X in 2022. Over the period under review, exports continue to indicate a sharp slump. The most prominent rate of growth was recorded in 2015 when exports increased by 273%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X kg) was the main destination for tap and valve exports from Myanmar, with a 91% share of total exports. Moreover, tap and valve exports to Indonesia exceeded the volume sent to the second major destination, Malaysia (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia totaled -34.4%.

In value terms, Indonesia ($X) emerged as the key foreign market for taps, cocks, valves and similar appliances exports from Myanmar, comprising 94% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 5.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia stood at -61.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-45.5% per year) and Thailand (-50.3% per year).

Export Prices by Country

The average tap and valve export price stood at $X per ton in 2022, shrinking by -66.6% against the previous year. Over the period under review, the export price recorded a abrupt decrease. The growth pace was the most rapid in 2018 when the average export price increased by 131% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Indonesia ($X per ton), while the average price for exports to Malaysia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+533.1%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Myanmar

In 2022, overseas purchases of taps, cocks, valves and similar appliances increased by 24% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 1,621% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, tap and valve imports fell to $X in 2022. Over the period under review, imports, however, showed a deep contraction. The pace of growth was the most pronounced in 2014 when imports increased by 1,331% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of tap and valve to Myanmar, accounting for a 85% share of total imports. Moreover, tap and valve imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +25.9%.

In value terms, China ($X) constituted the largest supplier of taps, cocks, valves and similar appliances to Myanmar, comprising 59% of total imports. The second position in the ranking was held by Thailand ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest.

Import Prices by Country

The average tap and valve import price stood at $X per ton in 2022, dropping by -28.2% against the previous year. In general, the import price saw a deep setback. The pace of growth appeared the most rapid in 2017 when the average import price increased by 61% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Georgia (+0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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