U.S.: Safety Valve Market 2024

Safety Valve Market Size in the U.S.

The U.S. safety valve market skyrocketed to $X in 2021, with an increase of 91% against the previous year. Over the period under review, consumption continues to indicate mild growth. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Safety Valve Production in the U.S.

In value terms, safety valve production soared to $X in 2021. In general, production saw a prominent expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by 82% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Safety Valve Exports

Exports from the U.S.

In 2021, shipments abroad of safety or relief valves for pipes, boiler shells, tanks and vats increased by 7.3% to X units, rising for the second year in a row after two years of decline. In general, total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +9.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +51.9% against 2019 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 62%. Over the period under review, the exports reached the peak figure at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, safety valve exports reduced to $X in 2021. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 40%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X units), Canada (X units) and Singapore (X units) were the main destinations of safety valve exports from the United States, together comprising 62% of total exports. These countries were followed by Brazil, the United Arab Emirates, Germany, China and South Korea, which together accounted for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of +24.9%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Canada ($X) and Mexico ($X) were the largest markets for safety valve exported from the United States worldwide, with a combined 41% share of total exports.

Singapore, with a CAGR of +19.5%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average safety valve export price stood at $X per unit in 2021, waning by -10.4% against the previous year. Over the period under review, the export price saw a deep slump. The pace of growth was the most pronounced in 2018 an increase of 8.5% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Singapore ($X per unit), while the average price for exports to Mexico ($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 the United Arab Emirates (-2.2%), while the prices for the other major destinations experienced a decline.

Safety Valve Imports

Imports into the U.S.

In 2021, purchases abroad of safety or relief valves for pipes, boiler shells, tanks and vats increased by 89% to X units, rising for the fourth year in a row after three years of decline. Overall, imports continue to indicate a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, safety valve imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a slight setback. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Mexico (X units), China (X units) and Taiwan (Chinese) (X units) were the main suppliers of safety valve imports to the United States, together comprising 67% of total imports. These countries were followed by Germany, Italy, Canada, Thailand, Japan and France, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +81.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constituted the largest supplier of safety or relief valves for pipes, boiler shells, tanks and vats to the United States, comprising 27% of total imports. The second position in the ranking was held by Germany ($X), with a 13% share of total imports. It was followed by Canada, with a 9.4% share.

From 2012 to 2021, the average annual growth rate of value from Mexico stood at +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.6% per year) and Canada (-7.1% per year).

Import Prices by Country

The average safety valve import price stood at $X per unit in 2021, dropping by -36.2% against the previous year. In general, the import price showed a abrupt curtailment. The growth pace was the most rapid in 2017 when the average import price increased by 17%. Over the period under review, average import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was France ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+21.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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