Spain: Tap And Valve Market 2024

Tap And Valve Market Size in Spain

The Spanish tap and valve market shrank to $X in 2022, declining by -5.1% against the previous year. Overall, consumption showed a noticeable curtailment. Tap and valve consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Tap And Valve Production in Spain

In value terms, tap and valve production fell slightly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 12% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Tap And Valve Exports

Exports from Spain

In 2022, shipments abroad of taps, cocks, valves and similar appliances increased by 4% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 12% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, tap and valve exports dropped slightly to $X in 2022. The total export value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 20% against the previous year. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

France (X tons) was the main destination for tap and valve exports from Spain, with a 18% share of total exports. Moreover, tap and valve exports to France exceeded the volume sent to the second major destination, Italy (X tons), threefold. The third position in this ranking was taken by Portugal (X tons), with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France totaled +7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+8.7% per year) and Portugal (+0.1% per year).

In value terms, France ($X) remains the key foreign market for taps, cocks, valves and similar appliances exports from Spain, comprising 14% of total exports. The second position in the ranking was held by Italy ($X), with a 6.7% share of total exports. It was followed by Portugal, with a 6.6% share.

From 2012 to 2022, the average annual growth rate of value to France stood at +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+7.1% per year) and Portugal (+3.7% per year).

Export Prices by Country

In 2022, the average tap and valve export price amounted to $X per ton, falling by -7.3% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 16% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Spain

In 2022, the amount of taps, cocks, valves and similar appliances imported into Spain contracted to X tons, leveling off at 2021. The total import volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 16% against the previous year. As a result, imports attained the peak of X tons, leveling off in the following year.

In value terms, tap and valve imports amounted to $X in 2022. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 25% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest tap and valve supplier to Spain, with a 52% share of total imports. Moreover, tap and valve imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. Italy (X tons) ranked third in terms of total imports with a 9.5% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.2% per year) and Italy (-2.0% per year).

In value terms, the largest tap and valve suppliers to Spain were China ($X), Germany ($X) and Italy ($X), together accounting for 62% of total imports. France, Portugal, Denmark, India, the Netherlands and Poland lagged somewhat behind, together comprising a further 15%.

In terms of the main suppliers, Poland, with a CAGR of +22.9%, 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 average tap and valve import price stood at $X per ton in 2022, flattening at the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 8.9%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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