Sri Lanka: Check Valve Market 2024

Check Valve Market Size in Sri Lanka

The Sri Lankan check valve market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption posted resilient growth. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Check Valve Exports

Exports from Sri Lanka

In 2021, overseas shipments of check valves for pipes, boiler shells, tanks and vats decreased by -2.7% to X units, falling for the second consecutive year after two years of growth. In general, exports continue to indicate a precipitous setback. The pace of growth was the most pronounced in 2019 with an increase of 88%. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, check valve exports shrank remarkably to $X in 2021. Over the period under review, exports faced a dramatic shrinkage. The pace of growth appeared the most rapid in 2019 when exports increased by 144%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units), Ethiopia (X units) and Maldives (X units) were the main destinations of check valve exports from Sri Lanka, together comprising 89% of total exports.

From 2012 to 2021, the biggest increases were recorded for Ethiopia (with a CAGR of +7.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) remains the key foreign market for check valves for pipes, boiler shells, tanks and vats exports from Sri Lanka, comprising 54% of total exports. The second position in the ranking was held by Ethiopia ($X), with a 17% share of total exports. It was followed by Maldives, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -28.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (+1.3% per year) and Maldives (-18.2% per year).

Export Prices by Country

In 2021, the average check valve export price amounted to $X per unit, falling by -14.7% against the previous year. In general, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +10.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, check valve export price increased by +39.4% against 2018 indices. The pace of growth was the most pronounced in 2013 an increase of 80%. Over the period under review, the average export prices attained the maximum at $X per unit in 2020, and then fell in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Germany ($X per unit), while the average price for exports to Maldives ($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 Germany (+53.9%), while the prices for the other major destinations experienced more modest paces of growth.

Check Valve Imports

Imports into Sri Lanka

In 2021, after two years of decline, there was significant growth in supplies from abroad of check valves for pipes, boiler shells, tanks and vats, when their volume increased by 76% to X units. In general, imports enjoyed a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 77% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, check valve imports soared to $X in 2021. Over the period under review, imports posted a prominent increase. The most prominent rate of growth was recorded in 2018 when imports increased by 149%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest check valve supplier to Sri Lanka, accounting for a 46% share of total imports. Moreover, check valve imports from China exceeded the figures recorded by the second-largest supplier, India (X units), threefold. The third position in this ranking was taken by Italy (X units), with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+20.6% per year) and Italy (-0.8% per year).

In value terms, the largest check valve suppliers to Sri Lanka were India ($X), China ($X) and France ($X), with a combined 63% share of total imports.

In terms of the main suppliers, France, with a CAGR of +35.0%, 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

In 2021, the average check valve import price amounted to $X per unit, dropping by -17.8% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 40%. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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