Romania: Tap And Valve Market 2024

Tap And Valve Market Size in Romania

The Romanian tap and valve market contracted modestly to $X in 2022, dropping by -1.8% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Tap and valve consumption peaked at $X in 2021, and then reduced in the following year.

Tap And Valve Production in Romania

In value terms, tap and valve production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.8% against 2020 indices. The growth pace was the most rapid in 2020 when the production volume increased by 48% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Tap And Valve Exports

Exports from Romania

In 2022, overseas shipments of taps, cocks, valves and similar appliances increased by 17% to X tons, rising for the sixth year in a row after two years of decline. Over the period under review, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +109.4% against 2016 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 35%. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, tap and valve exports reached $X in 2022. In general, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 36% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons), Germany (X tons) and Italy (X tons) were the main destinations of tap and valve exports from Romania, with a combined 51% share of total exports. These countries were followed by Saudi Arabia, the UK, Iraq, Turkey, Slovakia, Canada, France, Qatar, Hungary and Spain, which together accounted for a further 28%.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +97.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and the UK ($X) were the largest markets for tap and valve exported from Romania worldwide, together comprising 40% of total exports. Italy, Saudi Arabia, Turkey, Qatar, Iraq, Slovakia, Spain, France, Hungary and Canada lagged somewhat behind, together comprising a further 33%.

Among the main countries of destination, Iraq, with a CAGR of +84.4%, recorded 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

The average tap and valve export price stood at $X per ton in 2022, falling by -9.4% against the previous year. Over the last decade, it increased at an average annual rate of +3.5%. The most prominent rate of growth was recorded in 2014 an increase of 15% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to the United States ($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 Hungary (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Romania

For the seventh year in a row, Romania recorded growth in purchases abroad of taps, cocks, valves and similar appliances, which increased by 4.4% to X tons in 2022. Overall, total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.2% 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 +75.6% against 2013 indices. The growth pace was the most rapid in 2014 with an increase of 23% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, tap and valve imports reached $X in 2022. In general, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +28.5% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 25% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of tap and valve imports to Romania, with a combined 60% share of total imports. These countries were followed by Poland, Turkey, France, Finland, Austria, Hungary, Spain, the Czech Republic, Slovenia and Denmark, which together accounted for a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +38.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tap and valve suppliers to Romania were Germany ($X), Italy ($X) and China ($X), together accounting for 56% of total imports. These countries were followed by Poland, Finland, France, Austria, Hungary, Turkey, the Czech Republic, Denmark, Slovenia and Spain, which together accounted for a further 29%.

Among the main suppliers, Finland, with a CAGR of +34.6%, 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

The average tap and valve import price stood at $X per ton in 2022, declining by -1.6% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 15%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, 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 Slovenia (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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