Thailand: Check Valve Market 2024

Check Valve Market Size in Thailand

After five years of growth, the Thai check valve market decreased by -0.7% to $X in 2021. The market value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Check valve consumption peaked at $X in 2020, and then reduced modestly in the following year.

Check Valve Production in Thailand

In value terms, check valve production stood at $X in 2021 estimated in export price. Overall, production recorded a abrupt slump. The pace of growth appeared the most rapid in 2015 when the production volume increased by 146% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Check Valve Exports

Exports from Thailand

In 2021, after five years of decline, there was significant growth in overseas shipments of check valves for pipes, boiler shells, tanks and vats, when their volume increased by 118% to X units. In general, exports recorded a pronounced increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, check valve exports surged to $X in 2021. Overall, exports, however, showed a deep setback. The pace of growth was the most pronounced in 2013 when exports increased by 22%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for check valve exports from Thailand, with a 86% share of total exports. Moreover, check valve exports to the United States exceeded the volume sent to the second major destination, Cambodia (X units), more than tenfold. The third position in this ranking was taken by Japan (X units), with a 1.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +9.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+37.8% per year) and Japan (+5.5% per year).

In value terms, the United States ($X) remains the key foreign market for check valves for pipes, boiler shells, tanks and vats exports from Thailand, comprising 45% of total exports. The second position in the ranking was taken by Cambodia ($X), with a 16% share of total exports. It was followed by Japan, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+40.3% per year) and Japan (+2.2% per year).

Export Prices by Country

The average check valve export price stood at $X per unit in 2021, reducing by -45.4% against the previous year. Over the period under review, the export price recorded a abrupt slump. The growth pace was the most rapid in 2014 an increase of 29% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Indonesia ($X per unit), while the average price for exports to the United States ($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 Singapore (+6.7%), while the prices for the other major destinations experienced mixed trend patterns.

Check Valve Imports

Imports into Thailand

In 2021, supplies from abroad of check valves for pipes, boiler shells, tanks and vats increased by 36% to X units, rising for the fourth consecutive year after three years of decline. Overall, imports posted a strong increase. The pace of growth was the most pronounced in 2020 when imports increased by 68% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, check valve imports contracted to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 35%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), Japan (X units) and the United States (X units) were the main suppliers of check valve imports to Thailand, together accounting for 79% of total imports. These countries were followed by Vietnam, Italy, South Korea, Taiwan (Chinese) and the UK, which together accounted for a further 14%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +134.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and the United States ($X) appeared to be the largest check valve suppliers to Thailand, together accounting for 70% of total imports. These countries were followed by Italy, South Korea, Taiwan (Chinese), Vietnam and the UK, which together accounted for a further 14%.

In terms of the main suppliers, Vietnam, with a CAGR of +105.4%, recorded the highest rates of growth with regard to 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 check valve import price stood at $X per unit in 2021, shrinking by -31.2% against the previous year. Overall, the import price showed a deep reduction. The growth pace was the most rapid in 2014 when the average import price increased by 10% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average 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 South Korea (-4.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :