Portugal: Safety Valve Market 2024

Safety Valve Market Size in Portugal

The Portuguese safety valve market reduced markedly to $X in 2021, shrinking by -15.3% against the previous year. Over the period under review, consumption, however, recorded a significant increase. As a result, consumption attained the peak level of $X, and then dropped significantly in the following year.

Safety Valve Production in Portugal

In value terms, safety valve production dropped to $X in 2021 estimated in export price. In general, the total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +57.6% against 2019 indices. The growth pace was the most rapid in 2020 when the production volume increased by 76% against the previous year. As a result, production reached the peak level of $X, and then shrank in the following year.

Safety Valve Exports

Exports from Portugal

In 2021, shipments abroad of safety or relief valves for pipes, boiler shells, tanks and vats increased by 45% to X units, rising for the third year in a row after five years of decline. In general, exports enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2020 with an increase of 131% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, safety valve exports declined notably to $X in 2021. Over the period under review, exports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2018 with an increase of 28%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Saint Lucia (X units), Angola (X units) and Guatemala (X units) were the main destinations of safety valve exports from Portugal, with a combined 41% share of total exports. Cabo Verde, Germany, France, Spain, the UK, Uruguay, the United States, Canada and Finland lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Uruguay (with a CAGR of +1,307.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for safety valve exported from Portugal were Spain ($X), Angola ($X) and France ($X), together accounting for 38% of total exports. Germany, the UK, Cabo Verde, Saint Lucia, Uruguay, Guatemala, the United States, Canada and Finland lagged somewhat behind, together accounting for a further 28%.

In terms of the main countries of destination, Guatemala, with a CAGR of +63.9%, saw the highest rates of growth with regard to the value of exports, 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, shrinking by -48.3% against the previous year. Over the period under review, the export price faced a abrupt descent. The growth pace was the most rapid in 2017 an increase of 39% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Spain ($X per unit), while the average price for exports to Guatemala (less than $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 France (-1.6%), while the prices for the other major destinations experienced a decline.

Safety Valve Imports

Imports into Portugal

Safety valve imports into Portugal skyrocketed to X units in 2021, growing by 170% against the previous year's figure. Over the period under review, imports continue to indicate strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, safety valve imports surged to $X in 2021. In general, total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Italy (X units) and Spain (X units) were the main suppliers of safety valve imports to Portugal, together accounting for 59% of total imports. Germany, Canada, Austria, South Korea, North Macedonia, France, India, Turkey, the Netherlands and the United States lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by North Macedonia (with a CAGR of +1,005.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest safety valve suppliers to Portugal were Spain ($X), Italy ($X) and China ($X), with a combined 59% share of total imports. These countries were followed by Germany, Canada, Austria, France, South Korea, the United States, the Netherlands, Turkey, India and North Macedonia, which together accounted for a further 36%.

In terms of the main suppliers, India, with a CAGR of +58.2%, 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 safety valve import price stood at $X per unit in 2021, which is down by -42.5% against the previous year. Over the period under review, the import price faced a abrupt contraction. The pace of growth was the most pronounced in 2018 when the average import price increased by 9.9% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was France ($X per unit), while the price for North Macedonia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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