Southern Asia: Safety Valve Market 2024

Safety Valve Market Size in Southern Asia

In 2021, after six years of growth, there was significant decline in the South Asian safety valve market, when its value decreased by -25.5% to $X. Overall, consumption, however, enjoyed buoyant growth. As a result, consumption reached the peak level of $X, and then declined notably in the following year.

Safety Valve Production in Southern Asia

In value terms, safety valve production dropped significantly to $X in 2021 estimated in export price. In general, production, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of 111%. As a result, production attained the peak level of $X, and then declined dramatically in the following year.

Safety Valve Exports

Exports in Southern Asia

In 2021, after three years of decline, there was significant growth in overseas shipments of safety or relief valves for pipes, boiler shells, tanks and vats, when their volume increased by 76% to X units. In general, exports showed a slight increase. The volume of export peaked at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, safety valve exports surged to $X in 2021. Overall, exports posted a moderate expansion. The growth pace was the most rapid in 2013 when exports increased by 65%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of safety or relief valves for pipes, boiler shells, tanks and vats, namely India, represented more than two-thirds of total export.

India experienced a relatively flat trend pattern with regard to volume of exports of safety or relief valves for pipes, boiler shells, tanks and vats. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest safety valve supplier in Southern Asia.

In India, safety valve exports expanded at an average annual rate of +3.7% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per unit, reducing by -13.6% against the previous year. Export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the export price increased by 32% against the previous year. The level of export peaked at $X per unit in 2020, and then fell in the following year.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +2.7% per year.

Safety Valve Imports

Imports in Southern Asia

In 2021, safety valve imports in Southern Asia skyrocketed to X units, growing by 24% compared with 2020 figures. Over the period under review, imports posted a temperate increase. The pace of growth appeared the most rapid in 2017 when imports increased by 79% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, safety valve imports skyrocketed to $X in 2021. In general, imports saw a prominent increase. The growth pace was the most rapid in 2019 when imports increased by 42% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

India was the key importing country with an import of around X units, which accounted for 59% of total imports. Bangladesh (X units) ranks second in terms of the total imports with a 19% share, followed by Sri Lanka (14%) and Pakistan (4.8%).

Imports into India increased at an average annual rate of +7.7% from 2012 to 2021. At the same time, Bangladesh (+27.9%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +27.9% from 2012-2021. Pakistan experienced a relatively flat trend pattern. By contrast, Sri Lanka (-7.7%) illustrated a downward trend over the same period. Bangladesh (+16 p.p.) and India (+14 p.p.) significantly strengthened its position in terms of the total imports, while Pakistan and Sri Lanka saw its share reduced by -2.8% and -28.2% from 2012 to 2021, respectively.

In value terms, India ($X) constitutes the largest market for imported safety or relief valves for pipes, boiler shells, tanks and vats in Southern Asia, comprising 65% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 19% share of total imports. It was followed by Sri Lanka, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value in India amounted to +9.5%. In the other countries, the average annual rates were as follows: Bangladesh (+25.3% per year) and Sri Lanka (-4.1% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per unit, waning by -2.5% against the previous year. Import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, safety valve import price decreased by -22.3% against 2019 indices. The pace of growth appeared the most rapid in 2013 an increase of 71%. Over the period under review, import prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+3.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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