South-Eastern Asia: Check Valve Market 2024

Check Valve Market Size in South-Eastern Asia

In 2021, after five years of growth, there was significant decline in the Southeast Asian check valve market, when its value decreased by -31.1% to $X. Over the period under review, consumption, however, enjoyed tangible growth. As a result, consumption reached the peak level of $X, and then contracted dramatically in the following year.

Check Valve Production in South-Eastern Asia

In value terms, check valve production reduced rapidly to $X in 2021 estimated in export price. Overall, production, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 139% against the previous year. As a result, production attained the peak level of $X, and then declined notably in the following year.

Check Valve Exports

Exports in South-Eastern Asia

In 2021, after two years of decline, there was significant growth in overseas shipments of check valves for pipes, boiler shells, tanks and vats, when their volume increased by 27% to X units. The total export volume increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of export peaked at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, check valve exports expanded rapidly to $X in 2021. The total export value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 25%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Indonesia (X units) and Thailand (X units) represented the key exporters of check valves for pipes, boiler shells, tanks and vats in South-Eastern Asia, together accounting for approx. 84% of total exports. It was distantly followed by Singapore (X units), committing an 11% share of total exports. Malaysia (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Thailand (with a CAGR of +4.5%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest check valve supplying countries in South-Eastern Asia were Singapore ($X), Indonesia ($X) and Thailand ($X), with a combined 87% share of total exports.

Indonesia, with a CAGR of +5.6%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, declining by -12.9% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 24%. As a result, the export price reached the peak level of $X per unit, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+9.3%), while the other leaders experienced more modest paces of growth.

Check Valve Imports

Imports in South-Eastern Asia

In 2021, check valve imports in South-Eastern Asia dropped dramatically to X units, with a decrease of -31.6% compared with the previous year. Total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +36.2% against 2017 indices. The pace of growth appeared the most rapid in 2020 with an increase of 77% against the previous year. As a result, imports attained the peak of X units, and then shrank markedly in the following year.

In value terms, check valve imports shrank to $X in 2021. Overall, imports continue to indicate a slight slump. The most prominent rate of growth was recorded in 2013 with an increase of 17% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Thailand (X units) was the major importer of check valves for pipes, boiler shells, tanks and vats, committing 41% of total imports. Malaysia (X units) ranks second in terms of the total imports with a 24% share, followed by Indonesia (14%), Singapore (9.8%) and Vietnam (4.6%). Myanmar (X units) and the Philippines (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +14.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest check valve importing markets in South-Eastern Asia were Singapore ($X), Thailand ($X) and Malaysia ($X), with a combined 70% share of total imports. These countries were followed by Vietnam, Indonesia, the Philippines and Myanmar, which together accounted for a further 29%.

The Philippines, with a CAGR of +9.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per unit, picking up by 29% against the previous year. Overall, the import price, however, saw a pronounced reduction. Over the period under review, import prices reached the maximum at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+15.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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