Turkey: Safety Valve Market 2024

Safety Valve Market Size in Turkey

In 2021, the Turkish safety valve market decreased by -74.6% to $X, falling for the fourth consecutive year after six years of growth. Over the period under review, consumption saw a deep slump. Safety valve consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Safety Valve Production in Turkey

In value terms, safety valve production shrank to $X in 2021 estimated in export price. Overall, production, however, saw a pronounced reduction. The pace of growth appeared the most rapid in 2017 with an increase of 24% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Safety Valve Exports

Exports from Turkey

In 2021, overseas shipments of safety or relief valves for pipes, boiler shells, tanks and vats increased by 101% to X units, rising for the fifth year in a row after two years of decline. In general, exports recorded a strong increase. 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. Over the period under review, exports saw resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Egypt (X units) was the main destination for safety valve exports from Turkey, with a 28% share of total exports. Moreover, safety valve exports to Egypt exceeded the volume sent to the second major destination, Morocco (X units), twofold. Portugal (X units) ranked third in terms of total exports with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Egypt stood at +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (+5.7% per year) and Portugal (+97.2% per year).

In value terms, Egypt ($X) remains the key foreign market for safety or relief valves for pipes, boiler shells, tanks and vats exports from Turkey, comprising 24% of total exports. The second position in the ranking was held by the UK ($X), with an 8.4% share of total exports. It was followed by France, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Egypt amounted to +26.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+52.6% per year) and France (+59.3% per year).

Export Prices by Country

In 2021, the average safety valve export price amounted to $X per unit, growing by 26% against the previous year. Overall, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, safety valve export price increased by +102.5% against 2015 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the UK ($X per unit), while the average price for exports to Portugal ($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 Egypt (+18.7%), while the prices for the other major destinations experienced more modest paces of growth.

Safety Valve Imports

Imports into Turkey

In 2021, purchases abroad of safety or relief valves for pipes, boiler shells, tanks and vats increased by 36% to X units, rising for the second year in a row after two years of decline. In general, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +9.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +57.0% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, safety valve imports surged to $X in 2021. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +43.6% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Italy (X units) and Poland (X units) were the main suppliers of safety valve imports to Turkey, together comprising 57% of total imports. Germany, Romania, Iran and the United States lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2021, the biggest increases were recorded for Iran (with a CAGR of +129.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest safety valve suppliers to Turkey were Germany ($X), Italy ($X) and Romania ($X), together accounting for 58% of total imports. China, Poland, the United States and Iran lagged somewhat behind, together comprising a further 24%.

In terms of the main suppliers, Iran, with a CAGR of +100.6%, saw 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

In 2021, the average safety valve import price amounted to $X per unit, declining by -4.1% against the previous year. In general, the import price continues to indicate a mild slump. The growth pace was the most rapid in 2013 an increase of 15% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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