Scandinavia: Tap And Valve Market 2024

Tap And Valve Market Size in Scandinavia

The Scandinavia tap and valve market skyrocketed to $X in 2022, with an increase of 23% against the previous year. In general, consumption, however, continues to indicate a mild decrease. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Tap And Valve Production in Scandinavia

In value terms, tap and valve production expanded significantly to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt downturn. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Tap And Valve Exports

Exports in Scandinavia

In 2022, tap and valve exports in Scandinavia dropped to X tons, which is down by -4.2% compared with 2021 figures. Over the period under review, exports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 4.7% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, tap and valve exports fell to $X in 2022. Overall, exports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 4.6%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Sweden (X tons) represented the main exporter of taps, cocks, valves and similar appliances, creating 57% of total exports. Finland (X tons) took a 29% share (based on physical terms) of total exports, which put it in second place, followed by Norway (14%).

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of -1.3%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Sweden ($X) remains the largest tap and valve supplier in Scandinavia, comprising 55% of total exports. The second position in the ranking was taken by Finland ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (-4.8% per year) and Norway (-3.5% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, declining by -3.2% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the export price increased by 7.3%. The level of export peaked at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Norway ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+1.6%), while the other leaders experienced mixed trends in the export price figures.

Tap And Valve Imports

Imports in Scandinavia

In 2022, the amount of taps, cocks, valves and similar appliances imported in Scandinavia was estimated at X tons, surging by 3.6% against the previous year. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 8.5%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, tap and valve imports rose to $X in 2022. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 8.8% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Sweden (X tons) and Norway (X tons) represented the largest importers of taps, cocks, valves and similar appliances in 2022, resulting at near 45% and 32% of total imports, respectively. It was distantly followed by Finland (X tons), committing a 24% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +2.3%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest tap and valve importing markets in Scandinavia were Sweden ($X), Norway ($X) and Finland ($X).

Sweden, with a CAGR of +2.8%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, flattening at the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by 9.4% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+0.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform