South-Eastern Asia: Safety Valve Market 2024

Safety Valve Market Size in South-Eastern Asia

The Southeast Asian safety valve market dropped dramatically to $X in 2021, falling by -36.7% against the previous year. Overall, consumption, however, enjoyed a buoyant increase. As a result, consumption reached the peak level of $X, and then reduced remarkably in the following year.

Safety Valve Production in South-Eastern Asia

In value terms, safety valve production dropped rapidly to $X in 2021 estimated in export price. In general, production, however, showed a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 1,471% against the previous year. As a result, production reached the peak level of $X, and then fell sharply in the following year.

Safety Valve Exports

Exports in South-Eastern Asia

In 2021, the amount of safety or relief valves for pipes, boiler shells, tanks and vats exported in South-Eastern Asia soared to X units, growing by 16% on the year before. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +8.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +49.7% against 2019 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 35% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, safety valve exports reduced notably to $X in 2021. Total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +8.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 64%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand represented the main exporter of safety or relief valves for pipes, boiler shells, tanks and vats in South-Eastern Asia, with the volume of exports finishing at X units, which was near 56% of total exports in 2021. Singapore (X units) took the second position in the ranking, distantly followed by Malaysia (X units). All these countries together held approx. 41% share of total exports.

Thailand was also the fastest-growing in terms of the safety or relief valves for pipes, boiler shells, tanks and vats exports, with a CAGR of +17.2% from 2012 to 2021. At the same time, Malaysia (+15.3%) displayed positive paces of growth. Singapore experienced a relatively flat trend pattern. While the share of Thailand (+27 p.p.) and Malaysia (+5.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-27.8 p.p.) displayed negative dynamics.

In value terms, Singapore ($X) remains the largest safety valve supplier in South-Eastern Asia, comprising 57% of total exports. The second position in the ranking was held by Malaysia ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore amounted to +5.0%. In the other countries, the average annual rates were as follows: Malaysia (+21.2% per year) and Thailand (+12.6% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, waning by -27% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the export price increased by 50% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the export prices failed to regain momentum.

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 Malaysia (+5.1%), while the other leaders experienced mixed trends in the export price figures.

Safety Valve Imports

Imports in South-Eastern Asia

In 2021, approx. X units of safety or relief valves for pipes, boiler shells, tanks and vats were imported in South-Eastern Asia; growing by 42% on 2020 figures. Over the period under review, imports, however, recorded a noticeable slump. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, safety valve imports surged to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +8.8% 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 +46.3% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Singapore (X units) and Thailand (X units) represented roughly 64% of total imports in 2021. Malaysia (X units) took the next position in the ranking, followed by Indonesia (X units) and Vietnam (X units). All these countries together took approx. 33% share of total imports. The Philippines (X units) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +24.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported safety or relief valves for pipes, boiler shells, tanks and vats in South-Eastern Asia, comprising 54% of total imports. The second position in the ranking was held by Thailand ($X), with a 13% share of total imports. It was followed by Vietnam, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore totaled +17.4%. In the other countries, the average annual rates were as follows: Thailand (+9.6% per year) and Vietnam (+19.1% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per unit, falling by -7.1% against the previous year. Import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +12.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, safety valve import price decreased by -11.4% against 2019 indices. The growth pace was the most rapid in 2013 when the import price increased by 194% against the previous year. The level of import peaked at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+23.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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