Saudi Arabia: Tap And Valve Market 2024

Tap And Valve Market Size in Saudi Arabia

The Saudi tap and valve market shrank notably to $X in 2022, with a decrease of -93.5% 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 recorded a precipitous descent. Tap and valve consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Tap And Valve Exports

Exports from Saudi Arabia

In 2022, after two years of growth, there was significant decline in shipments abroad of taps, cocks, valves and similar appliances, when their volume decreased by -11.3% to X tons. In general, exports, however, recorded a moderate increase. The most prominent rate of growth was recorded in 2020 when exports increased by 119%. The exports peaked at X tons in 2021, and then contracted in the following year.

In value terms, tap and valve exports declined to $X in 2022. Over the period under review, exports, however, continue to indicate a measured expansion. The pace of growth appeared the most rapid in 2018 with an increase of 172%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

India (X tons), Poland (X tons) and China (X tons) were the main destinations of tap and valve exports from Saudi Arabia, with a combined 48% share of total exports. These countries were followed by Germany, Bulgaria, Australia, the United States, Italy, the UK, Egypt, South Africa and the Netherlands, which together accounted for a further 20%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +237.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X) emerged as the key foreign market for taps, cocks, valves and similar appliances exports from Saudi Arabia, comprising 39% of total exports. The second position in the ranking was taken by Poland ($X), with a 6.1% share of total exports. It was followed by Germany, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India totaled +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+109.5% per year) and Germany (-10.2% per year).

Export Prices by Country

The average tap and valve export price stood at $X per ton in 2022, dropping by -2.2% against the previous year. Over the period under review, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tap and valve export price increased by +3.3% against 2020 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by 31%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to South Africa ($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 the United Arab Emirates (+12.3%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Saudi Arabia

In 2022, the amount of taps, cocks, valves and similar appliances imported into Saudi Arabia shrank significantly to X tons, with a decrease of -93.2% on the previous year's figure. In general, imports faced a significant curtailment. The pace of growth appeared the most rapid in 2020 when imports increased by 16%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, tap and valve imports declined significantly to $X in 2022. Overall, imports recorded a dramatic shrinkage. The pace of growth was the most pronounced in 2013 when imports increased by 26% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Italy (X tons) constituted the largest tap and valve supplier to Saudi Arabia, accounting for a 57% share of total imports. Moreover, tap and valve imports from Italy exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold. China (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy amounted to -17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-19.0% per year) and China (-34.3% per year).

In value terms, Italy ($X) constituted the largest supplier of taps, cocks, valves and similar appliances to Saudi Arabia, comprising 48% of total imports. The second position in the ranking was held by the United States ($X), with a 12% share of total imports. It was followed by Germany, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy stood at -13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-23.3% per year) and Germany (-25.7% per year).

Import Prices by Country

The average tap and valve import price stood at $X per ton in 2022, increasing by 50% against the previous year. Overall, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tap and valve import price increased by +64.7% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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