South-Eastern Asia: Tap And Valve Market 2024

Tap And Valve Market Size in South-Eastern Asia

The Southeast Asian tap and valve market rose rapidly to $X in 2022, surging by 5.5% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; afterwards, it flattened through to 2022.

Tap And Valve Production in South-Eastern Asia

In value terms, tap and valve production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 13%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Tap And Valve Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of taps, cocks, valves and similar appliances were exported in South-Eastern Asia; surging by 4.1% on the previous year. The total export volume increased at an average annual rate of +5.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 23%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, tap and valve exports expanded significantly to $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.0% 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 +41.3% against 2014 indices. The growth pace was the most rapid in 2014 with an increase of 22% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, Thailand (X tons) was the key exporter of taps, cocks, valves and similar appliances, creating 46% of total exports. Singapore (X tons) held the second position in the ranking, followed by Vietnam (X tons), Indonesia (X tons) and Malaysia (X tons). All these countries together held near 53% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tap and valve exports from Thailand stood at +3.6%. At the same time, Vietnam (+9.0%), Singapore (+6.4%), Indonesia (+5.0%) and Malaysia (+2.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +9.0% from 2012-2022. While the share of Vietnam (+6.3 p.p.) and Singapore (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-7.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X), Thailand ($X) and Vietnam ($X) constituted the countries with the highest levels of exports in 2022, with a combined 88% share of total exports.

In terms of the main exporting countries, Singapore, with a CAGR of +9.1%, 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

In 2022, the export price in South-Eastern Asia amounted to $X per ton, picking up by 7.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2019 when the export price increased by 24% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+3.4%), while the other leaders experienced more modest paces of growth.

Tap And Valve Imports

Imports in South-Eastern Asia

In 2022, tap and valve imports in South-Eastern Asia stood at X tons, surging by 8.7% compared with the previous year. The total import volume increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 26% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, tap and valve imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand (X tons) and Indonesia (X tons) represented roughly 57% of total imports in 2022. Singapore (X tons) took the next position in the ranking, followed by Vietnam (X tons) and Malaysia (X tons). All these countries together held approx. 39% share of total imports. The Philippines (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +12.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tap and valve importing markets in South-Eastern Asia were Thailand ($X), Singapore ($X) and Indonesia ($X), together accounting for 76% of total imports. These countries were followed by Vietnam, Malaysia and the Philippines, which together accounted for a further 22%.

Vietnam, with a CAGR of +9.9%, 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 2022, the import price in South-Eastern Asia amounted to $X per ton, increasing by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2021 an increase of 13%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+16.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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