Spain: Safety Valve Market 2024

Safety Valve Market Size in Spain

In 2021, the Spanish safety valve market increased by 7.7% to $X, rising for the second consecutive year after four years of decline. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +53.5% against 2019 indices. Safety valve consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Safety Valve Production in Spain

In value terms, safety valve production dropped sharply to $X in 2021 estimated in export price. Over the period under review, the total production indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% 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 47%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Safety Valve Exports

Exports from Spain

Safety valve exports from Spain soared to X units in 2021, growing by 113% against the previous year. In general, exports enjoyed pronounced growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, safety valve exports surged to $X in 2021. Overall, exports, however, recorded a deep reduction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X units) was the main destination for safety valve exports from Spain, accounting for a 35% share of total exports. Moreover, safety valve exports to Saudi Arabia exceeded the volume sent to the second major destination, Portugal (X units), fivefold. Morocco (X units) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume to Saudi Arabia amounted to +26.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+11.0% per year) and Morocco (+16.6% per year).

In value terms, Saudi Arabia ($X) emerged as the key foreign market for safety or relief valves for pipes, boiler shells, tanks and vats exports from Spain, comprising 29% of total exports. The second position in the ranking was taken by Portugal ($X), with a 7% share of total exports. It was followed by the United States, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value to Saudi Arabia stood at +16.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+1.5% per year) and the United States (-10.5% per year).

Export Prices by Country

In 2021, the average safety valve export price amounted to $X per unit, declining by -40% against the previous year. Over the period under review, the export price saw a deep slump. The most prominent rate of growth was recorded in 2014 when the average export price increased by 15%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the UK ($X per unit), while the average price for exports to Israel ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (-1.5%), while the prices for the other major destinations experienced a decline.

Safety Valve Imports

Imports into Spain

In 2021, overseas purchases of safety or relief valves for pipes, boiler shells, tanks and vats increased by 92% to X units, rising for the second year in a row after two years of decline. In general, imports continue to indicate a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, safety valve imports soared to $X in 2021. Overall, imports, however, saw a slight contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 44%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X units), China (X units) and Italy (X units) were the main suppliers of safety valve imports to Spain, together accounting for 60% of total imports. The Netherlands, France, Poland, Luxembourg, Israel, the UK and India lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +59.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of safety or relief valves for pipes, boiler shells, tanks and vats to Spain, comprising 28% of total imports. The second position in the ranking was held by Italy ($X), with an 11% share of total imports. It was followed by China, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.0% per year) and China (-10.8% per year).

Import Prices by Country

In 2021, the average safety valve import price amounted to $X per unit, declining by -37.6% against the previous year. Overall, the import price recorded a abrupt setback. The most prominent rate of growth was recorded in 2018 an increase of 12% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (-5.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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