Portugal: Tap And Valve Market 2024

Tap And Valve Market Size in Portugal

In 2022, the Portuguese tap and valve market increased by 0.5% to $X, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of +4.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Tap and valve consumption peaked in 2022 and is expected to retain growth in years to come.

Tap And Valve Production in Portugal

In value terms, tap and valve production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 12% against the previous year. As a result, production reached the peak level of $X, and then declined in the following year.

Tap And Valve Exports

Exports from Portugal

Tap and valve exports from Portugal shrank modestly to X tons in 2022, which is down by -1.9% compared with the year before. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 16% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, tap and valve exports totaled $X in 2022. The total export value increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 27%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons) was the main destination for tap and valve exports from Portugal, with a 60% share of total exports. Moreover, tap and valve exports to Germany exceeded the volume sent to the second major destination, Spain (X tons), fourfold. The third position in this ranking was held by France (X tons), with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-2.6% per year) and France (+0.7% per year).

In value terms, Germany ($X) remains the key foreign market for taps, cocks, valves and similar appliances exports from Portugal, comprising 57% of total exports. The second position in the ranking was taken by Spain ($X), with a 15% share of total exports. It was followed by the United States, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+4.5% per year) and the United States (+20.1% per year).

Export Prices by Country

The average tap and valve export price stood at $X per ton in 2022, picking up by 2.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2017 an increase of 10%. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Angola ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Portugal

In 2022, purchases abroad of taps, cocks, valves and similar appliances increased by 0.2% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 26%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, tap and valve imports rose modestly to $X in 2022. Over the period under review, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 26% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

Spain (X tons), Italy (X tons) and China (X tons) were the main suppliers of tap and valve imports to Portugal, together accounting for 69% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +14.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tap and valve suppliers to Portugal were Spain ($X), Italy ($X) and Germany ($X), together accounting for 63% of total imports. These countries were followed by France, China, the Netherlands and the UK, which together accounted for a further 26%.

China, with a CAGR of +16.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tap and valve import price amounted to $X per ton, picking up by 2.1% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 5.9% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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