Philippines: Pressure-Reducing Iron Valve Market 2025

Pressure-Reducing Iron Valve Market Size in the Philippines

The Philippine pressure-reducing iron valve market declined markedly to $X in 2022, waning by -39.8% 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, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Pressure-Reducing Iron Valve Exports

Exports from the Philippines

In 2022, the amount of pressure-reducing, control, check and safety valves exported from the Philippines skyrocketed to X units, growing by 115% on the previous year's figure. Over the period under review, exports posted a prominent expansion. The growth pace was the most rapid in 2015 when exports increased by 881% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, pressure-reducing iron valve exports soared to $X in 2022. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 677% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Japan (X units) was the main destination for pressure-reducing iron valve exports from the Philippines, accounting for a 51% share of total exports. Moreover, pressure-reducing iron valve exports to Japan exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was taken by the UK (X units), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Japan totaled +61.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+33.9% per year) and the UK (+123.1% per year).

In value terms, Japan ($X) remains the key foreign market for pressure-reducing, control, check and safety valves exports from the Philippines, comprising 51% of total exports. The second position in the ranking was taken by the United States ($X), with a 17% share of total exports. It was followed by the UK, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan amounted to +41.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+27.6% per year) and the UK (+120.5% per year).

Export Prices by Country

In 2022, the average pressure-reducing iron valve export price amounted to $X per unit, with a decrease of -4.2% against the previous year. Over the period under review, the export price, however, showed buoyant growth. The most prominent rate of growth was recorded in 2014 when the average export price increased by 967% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Australia ($X per unit) and Japan ($X per unit), while the average price for exports to Singapore ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+26.0%), while the prices for the other major destinations experienced more modest paces of growth.

Pressure-Reducing Iron Valve Imports

Imports into the Philippines

Pressure-reducing iron valve imports into the Philippines dropped rapidly to X units in 2022, falling by -38% against 2021. In general, imports continue to indicate a perceptible curtailment. The growth pace was the most rapid in 2015 with an increase of 130% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, pressure-reducing iron valve imports shrank to $X in 2022. Over the period under review, imports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2016 when imports increased by 134% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), the United States (X units) and Japan (X units) were the main suppliers of pressure-reducing iron valve imports to the Philippines, with a combined 54% share of total imports. Germany, Singapore, Malaysia, Canada, Hong Kong SAR, Australia, South Korea, Thailand, Taiwan (Chinese) and Israel lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +33.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest pressure-reducing iron valve suppliers to the Philippines were China ($X), the United States ($X) and Japan ($X), with a combined 54% share of total imports. Germany, Singapore, Malaysia, Canada, Hong Kong SAR, Australia, South Korea, Thailand, Taiwan (Chinese) and Israel lagged somewhat behind, together accounting for a further 37%.

Among the main suppliers, Canada, with a CAGR of +51.6%, 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

The average pressure-reducing iron valve import price stood at $X per unit in 2022, picking up by 48% against the previous year. Overall, the import price showed a strong expansion. The most prominent rate of growth was recorded in 2019 an increase of 191% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from South Korea ($X per unit) and Thailand ($X per unit), while the price for Singapore ($X per unit) and Israel ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+28.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform