South-Eastern Asia: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in South-Eastern Asia

The Southeast Asian pressure-reducing iron valve market rose notably to $X in 2022, increasing by 6% against the previous year. Overall, consumption, however, recorded temperate growth. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Pressure-Reducing Iron Valve Production in South-Eastern Asia

In value terms, pressure-reducing iron valve production totaled $X in 2022 estimated in export price. Overall, production enjoyed a strong increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by 111%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Pressure-Reducing Iron Valve Exports

Exports in South-Eastern Asia

In 2022, exports of pressure-reducing, control, check and safety valves in South-Eastern Asia surged to X units, increasing by 33% on the previous year's figure. The total export volume increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, pressure-reducing iron valve exports skyrocketed to $X in 2022. Total exports indicated a resilient expansion from 2012 to 2022: its value 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 +75.0% against 2016 indices. The pace of growth was the most pronounced in 2014 with an increase of 23% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Indonesia represented the major exporting country with an export of about X units, which accounted for 39% of total exports. It was distantly followed by Thailand (X units), Singapore (X units), Malaysia (X units) and Vietnam (X units), together achieving a 60% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to pressure-reducing iron valve exports from Indonesia stood at +9.2%. At the same time, Vietnam (+12.2%), Thailand (+6.2%) and Singapore (+1.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +12.2% from 2012-2022. By contrast, Malaysia (-2.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, Vietnam and Thailand increased by +14, +3.3 and +2.8 percentage points, respectively.

In value terms, Singapore ($X), Indonesia ($X) and Thailand ($X) were the countries with the highest levels of exports in 2022, with a combined 74% share of total exports. Malaysia and Vietnam lagged somewhat behind, together comprising a further 24%.

Vietnam, with a CAGR of +21.4%, saw the highest growth rate of the value of exports, in terms of 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

In 2022, the export price in South-Eastern Asia amounted to $X per unit, falling by -9.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2017 when the export price increased by 20%. The level of export peaked at $X per unit in 2021, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+8.2%), while the other leaders experienced more modest paces of growth.

Pressure-Reducing Iron Valve Imports

Imports in South-Eastern Asia

In 2022, imports of pressure-reducing, control, check and safety valves in South-Eastern Asia shrank modestly to X units, declining by -4.2% against the year before. Overall, imports continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2014 when imports increased by 83%. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, pressure-reducing iron valve imports fell slightly to $X in 2022. Over the period under review, imports showed a slight shrinkage. The pace of growth was the most pronounced in 2014 when imports increased by 153%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The purchases of the four major importers of pressure-reducing, control, check and safety valves, namely Thailand, Malaysia, Indonesia and Singapore, represented more than two-thirds of total import. It was distantly followed by Vietnam (X units), making up a 5.7% share of total imports. Myanmar (X units) and Lao People's Democratic Republic (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Myanmar (with a CAGR of +12.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Thailand ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 71% of total imports. Indonesia, Vietnam, Lao People's Democratic Republic and Myanmar lagged somewhat behind, together accounting for a further 23%.

In terms of the main importing countries, Lao People's Democratic Republic, with a CAGR of +5.5%, saw 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

The import price in South-Eastern Asia stood at $X per unit in 2022, picking up by 2.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2014 when the import price increased by 38% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform