Singapore: Market for Process Control, Gate, Globe and Other Valves 2024

Market Size for Process Control, Gate, Globe and Other Valves in Singapore

For the third consecutive year, the Singaporean market for process control, gate, globe and other valves recorded growth in sales value, which increased by 18% to $X in 2022. In general, consumption, however, continues to indicate a slight setback. Consumption of peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Exports of Process Control, Gate, Globe and Other Valves

Exports from Singapore

In 2022, overseas shipments of process control, gate, globe and other valves increased by 29% to X tons, rising for the fifth consecutive year after three years of decline. In general, total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.0% 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 +98.3% against 2017 indices. The growth pace was the most rapid in 2014 with an increase of 39%. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, exports of process control, gate, globe and other valves soared to $X in 2022. Overall, exports continue to indicate a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia (X tons), the United Arab Emirates (X tons) and Malaysia (X tons) were the main destinations of exports of process control, gate, globe and other valves from Singapore, with a combined 44% share of total exports. China, Saudi Arabia, the United States, India, Japan, Thailand, Australia, Qatar, South Korea and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 51%.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +42.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), the United Arab Emirates ($X) and Malaysia ($X) constituted the largest markets for process control, gate, globe and other valves exported from Singapore worldwide, together accounting for 39% of total exports. These countries were followed by China, Saudi Arabia, India, Japan, Thailand, the United States, Australia, Qatar, South Korea and Taiwan (Chinese), which together accounted for a further 45%.

In terms of the main countries of destination, Qatar, with a CAGR of +44.5%, 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 export price for process control, gate, globe and other valves stood at $X per ton in 2022, surging by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Australia ($X per ton) and India ($X per ton), while the average price for exports to the United States ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Process Control, Gate, Globe and Other Valves

Imports into Singapore

In 2022, approx. X tons of process control, gate, globe and other valves were imported into Singapore; with an increase of 27% compared with the year before. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of process control, gate, globe and other valves soared to $X in 2022. Overall, total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +91.3% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of imports of process control, gate, globe and other valves to Singapore, together comprising 48% of total imports. These countries were followed by Germany, Italy, Malaysia, the UK, India, France, South Korea, Taiwan (Chinese), Ireland and Indonesia, which together accounted for a further 38%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +35.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest process control, gate, globe and other valves suppliers to Singapore were China ($X), the United States ($X) and Japan ($X), together accounting for 53% of total imports. Germany, Malaysia, India, the UK, Italy, France, South Korea, Ireland, Taiwan (Chinese) and Indonesia lagged somewhat behind, together accounting for a further 37%.

In terms of the main suppliers, Ireland, with a CAGR of +38.7%, recorded 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

In 2022, the average import price for process control, gate, globe and other valves amounted to $X per ton, reducing by -2.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 9.2% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then fell modestly in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and Japan ($X per ton), while the price for Italy ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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