Turkey: Tap And Valve Market 2024

Tap And Valve Market Size in Turkey

The Turkish tap and valve market declined modestly to $X in 2022, flattening at the previous year. Overall, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +13.5% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Tap And Valve Production in Turkey

In value terms, tap and valve production dropped rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2018 with an increase of 73%. Tap and valve production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Tap And Valve Exports

Exports from Turkey

In 2022, tap and valve exports from Turkey rose to X tons, surging by 2.9% against 2021 figures. In general, total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.0% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of 18%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, tap and valve exports rose significantly to $X in 2022. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +87.6% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 28% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Iraq (X tons), Russia (X tons) and Egypt (X tons) were the main destinations of tap and valve exports from Turkey, with a combined 25% share of total exports. Germany, Uzbekistan, Libya, Morocco, Azerbaijan, France, Iran, the UK, Italy and the United States lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +20.7%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Iraq ($X) and Germany ($X) constituted the largest markets for tap and valve exported from Turkey worldwide, together accounting for 25% of total exports. These countries were followed by Egypt, the United States, the UK, France, Azerbaijan, Iran, Uzbekistan, Morocco, Libya and Italy, which together accounted for a further 31%.

Among the main countries of destination, France, with a CAGR of +19.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tap and valve export price stood at $X per ton in 2022, rising by 4.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 11% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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 United States ($X per ton), while the average price for exports to Libya ($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 Germany (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Turkey

In 2022, overseas purchases of taps, cocks, valves and similar appliances increased by 20% to X tons, rising for the third year in a row after three years of decline. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 25% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, tap and valve imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 21% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of tap and valve imports to Turkey, with a combined 57% share of total imports. These countries were followed by Poland, Malaysia, the UK, the Czech Republic, Japan, Bulgaria, Spain, India, France and Hungary, which together accounted for a further 27%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +74.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tap and valve suppliers to Turkey were Germany ($X), Italy ($X) and China ($X), together comprising 48% of total imports. Poland, France, the Czech Republic, the UK, Japan, Hungary, Malaysia, Spain, India and Bulgaria lagged somewhat behind, together comprising a further 27%.

Among the main suppliers, Malaysia, with a CAGR of +67.3%, 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

The average tap and valve import price stood at $X per ton in 2022, waning by -1.7% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 9.3%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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