Uruguay: Tap And Valve Market 2024

Tap And Valve Market Size in Uruguay

In 2022, the Uruguayan tap and valve market increased by 3.9% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Tap and valve consumption peaked in 2022 and is expected to retain growth in the immediate term.

Tap And Valve Production in Uruguay

In value terms, tap and valve production shrank to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of 12%. Tap and valve production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Tap And Valve Exports

Exports from Uruguay

In 2022, after two years of growth, there was significant decline in overseas shipments of taps, cocks, valves and similar appliances, when their volume decreased by -82.2% to X tons. Overall, exports saw a deep slump. The pace of growth appeared the most rapid in 2021 with an increase of 177% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, tap and valve exports dropped significantly to $X in 2022. Over the period under review, exports saw a noticeable setback. The most prominent rate of growth was recorded in 2021 with an increase of 141% against the previous year. As a result, the exports attained the peak of $X, and then shrank remarkably in the following year.

Exports by Country

Brazil (X kg), Chile (X kg) and Spain (X kg) were the main destinations of tap and valve exports from Uruguay, with a combined 48% share of total exports. The United States, Argentina, Denmark, Paraguay, Bolivia and Free Zones lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +93.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X), Brazil ($X) and Chile ($X) were the largest markets for tap and valve exported from Uruguay worldwide, with a combined 44% share of total exports.

Among the main countries of destination, Denmark, with a CAGR of +36.1%, recorded 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

In 2022, the average tap and valve export price amounted to $X per ton, picking up by 38% against the previous year. In general, the export price enjoyed a temperate increase. The pace of growth appeared the most rapid in 2018 when the average export price increased by 128%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Argentina ($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 Spain (+39.4%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Uruguay

Tap and valve imports into Uruguay dropped modestly to X tons in 2022, waning by -2.4% compared with the previous year. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 26% against the previous year. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, tap and valve imports stood at $X in 2022. The total import value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 21%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of tap and valve to Uruguay, with a 69% share of total imports. Moreover, tap and valve imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), tenfold. The third position in this ranking was held by Argentina (X tons), with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+2.1% per year) and Argentina (-5.0% per year).

In value terms, China ($X) constituted the largest supplier of taps, cocks, valves and similar appliances to Uruguay, comprising 44% of total imports. The second position in the ranking was taken by the United States ($X), with an 8.1% share of total imports. It was followed by Brazil, with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.7% per year) and Brazil (+0.2% per year).

Import Prices by Country

In 2022, the average tap and valve import price amounted to $X per ton, with an increase of 8.7% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 8.8%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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