United Kingdom: Check Valve Market 2024

Check Valve Market Size in the UK

For the third consecutive year, the UK check valve market recorded growth in sales value, which increased by 60% to $X in 2021. In general, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +80.1% against 2018 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Check Valve Production in the UK

In value terms, check valve production stood at $X in 2021 estimated in export price. In general, production showed a noticeable setback. The most prominent rate of growth was recorded in 2019 when the production volume increased by 21%. Check valve production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Check Valve Exports

Exports from the UK

In 2021, the amount of check valves for pipes, boiler shells, tanks and vats exported from the UK fell dramatically to X units, which is down by -28.1% compared with the previous year's figure. Overall, exports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by 25% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, check valve exports reduced modestly to $X in 2021. Over the period under review, exports recorded a noticeable setback. The most prominent rate of growth was recorded in 2018 with an increase of 18% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

China (X units), Germany (X units) and Saudi Arabia (X units) were the main destinations of check valve exports from the UK, together accounting for 37% of total exports. These countries were followed by the United States, Canada, Poland, the United Arab Emirates, France, Qatar, Italy, Hungary, Ireland and Egypt, which together accounted for a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +50.8%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for check valves for pipes, boiler shells, tanks and vats exports from the UK, comprising 19% of total exports. The second position in the ranking was held by the United States ($X), with a 7.7% share of total exports. It was followed by Hungary, with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-7.4% per year) and Hungary (+62.8% per year).

Export Prices by Country

The average check valve export price stood at $X per unit in 2021, growing by 39% against the previous year. In general, export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, check valve export price increased by +72.4% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Hungary ($X per unit), while the average price for exports to Germany ($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 (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Check Valve Imports

Imports into the UK

In 2021, purchases abroad of check valves for pipes, boiler shells, tanks and vats was finally on the rise to reach X units for the first time since 2016, thus ending a four-year declining trend. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, check valve imports rose markedly to $X in 2021. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 20% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of check valve to the UK, with a 58% share of total imports. Moreover, check valve imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), ninefold. The third position in this ranking was taken by the United States (X units), with a 6% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.9% per year) and the United States (-3.1% per year).

In value terms, the largest check valve suppliers to the UK were the United States ($X), China ($X) and Germany ($X), with a combined 65% share of total imports. Portugal, France, Italy, the Netherlands, Poland, Spain and Japan lagged somewhat behind, together accounting for a further 22%.

Portugal, with a CAGR of +31.5%, saw the highest growth rate of the value of imports, among the main suppliers 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, which is down by -29.4% against the previous year. Over the period under review, the import price recorded a noticeable downturn. The most prominent rate of growth was recorded in 2018 an increase of 22% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+5.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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