Northern America: Tap And Valve Market 2024

Tap And Valve Market Size in Northern America

In 2022, the North American tap and valve market increased by 16% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Tap And Valve Production in Northern America

In value terms, tap and valve production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 11% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Tap And Valve Exports

Exports in Northern America

After four years of decline, shipments abroad of taps, cocks, valves and similar appliances increased by 3.9% to X tons in 2022. Overall, exports, however, showed a abrupt descent. The growth pace was the most rapid in 2014 with an increase of 16%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, tap and valve exports rose rapidly to $X in 2022. The total export value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The United States represented the largest exporter of taps, cocks, valves and similar appliances in Northern America, with the volume of exports amounting to X tons, which was approx. 79% of total exports in 2022. It was distantly followed by Canada (X tons), generating a 21% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tap and valve exports from the United States stood at -8.5%. Canada (-4.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Canada increased by +6.8 percentage points.

In value terms, the United States ($X) remains the largest tap and valve supplier in Northern America, comprising 92% of total exports. The second position in the ranking was taken by Canada ($X), with a 7.6% share of total exports.

In the United States, tap and valve exports expanded at an average annual rate of +1.9% over the period from 2012-2022.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, rising by 7.1% against the previous year. In general, the export price showed buoyant growth. The pace of growth appeared the most rapid in 2020 when the export price increased by 114% against the previous year. Over the period under review, the export prices hit record highs 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 the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.4%).

Tap And Valve Imports

Imports in Northern America

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 -14.6% to X tons. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 12%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, tap and valve imports soared to $X in 2022. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 16%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

The United States represented the major importer of taps, cocks, valves and similar appliances in Northern America, with the volume of imports recording X tons, which was near 87% of total imports in 2022. It was distantly followed by Canada (X tons), generating a 13% share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of taps, cocks, valves and similar appliances. Canada experienced a relatively flat trend pattern. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported taps, cocks, valves and similar appliances in Northern America, comprising 81% of total imports. The second position in the ranking was held by Canada ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at +3.4%.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, with an increase of 35% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.7%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.3%).

Source: IndexBox Platform

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