Pakistan: Safety Valve Market 2024

Safety Valve Market Size in Pakistan

The Pakistani safety valve market reduced remarkably to $X in 2021, dropping by -48.9% 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). In general, consumption continues to indicate a pronounced decrease. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Safety Valve Exports

Exports from Pakistan

In 2021, shipments abroad of safety or relief valves for pipes, boiler shells, tanks and vats was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports enjoyed moderate growth. The growth pace was the most rapid in 2018 with an increase of 389% against the previous year. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, safety valve exports surged to $X in 2021. Over the period under review, exports saw buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 983% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) was the main destination for safety valve exports from Pakistan, accounting for a 52% share of total exports. Moreover, safety valve exports to the United Arab Emirates exceeded the volume sent to the second major destination, Bangladesh (X units), threefold. Sri Lanka (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates stood at +36.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+0.0% per year) and Sri Lanka (+46.6% per year).

In value terms, the largest markets for safety valve exported from Pakistan were Bangladesh ($X), Sri Lanka ($X) and the United Arab Emirates ($X), with a combined 72% share of total exports. Qatar, Kuwait, Bahrain and Saudi Arabia lagged somewhat behind, together comprising a further 27%.

Qatar, with a CAGR of +70.6%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average safety valve export price amounted to $X per unit, with a decrease of -68.7% against the previous year. In general, the export price, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 an increase of 121%. The export price peaked at $X per unit in 2020, and then contracted notably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+16.9%), while the prices for the other major destinations experienced more modest paces of growth.

Safety Valve Imports

Imports into Pakistan

In 2021, the amount of safety or relief valves for pipes, boiler shells, tanks and vats imported into Pakistan reduced sharply to X units, dropping by -38.2% on the previous year. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 379% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, safety valve imports shrank sharply to $X in 2021. Overall, imports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2019 when imports increased by 489% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X units) constituted the largest supplier of safety valve to Pakistan, accounting for a 59% share of total imports. Moreover, safety valve imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X units), fourfold. The United States (X units) ranked third in terms of total imports with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.9% per year) and the United States (-13.1% per year).

In value terms, the largest safety valve suppliers to Pakistan were China ($X), the United Arab Emirates ($X) and the United States ($X), with a combined 73% share of total imports.

In terms of the main suppliers, China, with a CAGR of +4.2%, recorded the highest rates of growth with regard to 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 2021, the average safety valve import price amounted to $X per unit, which is down by -18.9% against the previous year. Over the period under review, the import price continues to indicate a perceptible decrease. The pace of growth was the most pronounced in 2019 when the average import price increased by 23%. As a result, import price attained the peak level of $X per unit. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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