Vietnam: Check Valve Market 2024

Check Valve Market Size in Vietnam

The Vietnamese check valve market expanded sharply to $X in 2021, rising by 9.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a relatively flat trend pattern. Check valve consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Check Valve Exports

Exports from Vietnam

In 2021, shipments abroad of check valves for pipes, boiler shells, tanks and vats decreased by -10.9% to X units, falling for the second consecutive year after three years of growth. Overall, exports saw a pronounced reduction. The pace of growth appeared the most rapid in 2019 with an increase of 46%. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, check valve exports fell to $X in 2021. Over the period under review, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 55%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X units), Japan (X units) and the Netherlands (X units) were the main destinations of check valve exports from Vietnam, together accounting for 66% of total exports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +87.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for check valve exported from Vietnam were Germany ($X), Japan ($X) and the Netherlands ($X), with a combined 66% share of total exports.

Germany, with a CAGR of +102.4%, saw the highest growth rate of the value of exports, in terms of 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

In 2021, the average check valve export price amounted to $X per unit, increasing by 3.2% against the previous year. In general, the export price enjoyed resilient growth. The pace of growth appeared the most rapid in 2014 an increase of 73%. The export price peaked in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2021, the highest price was recorded for prices to Indonesia ($X per unit) and Thailand ($X per unit), while the average price for exports to Italy ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+18.7%), while the prices for the other major destinations experienced more modest paces of growth.

Check Valve Imports

Imports into Vietnam

Check valve imports into Vietnam expanded modestly to X units in 2021, with an increase of 3.4% on 2020 figures. In general, imports, however, saw a slight contraction. The pace of growth appeared the most rapid in 2015 when imports increased by 28%. Over the period under review, imports reached the maximum at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, check valve imports expanded significantly to $X in 2021. The total import value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by 18% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest check valve supplier to Vietnam, accounting for a 33% share of total imports. Moreover, check valve imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), twofold. Italy (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+13.3% per year) and Italy (+12.7% per year).

In value terms, China ($X) constituted the largest supplier of check valves for pipes, boiler shells, tanks and vats to Vietnam, comprising 33% of total imports. The second position in the ranking was held by South Korea ($X), with a 13% share of total imports. It was followed by Italy, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to -3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+17.2% per year) and Italy (+16.5% per year).

Import Prices by Country

The average check valve import price stood at $X per unit in 2021, with an increase of 4.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 14%. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Taiwan (Chinese) ($X per unit) and the United States ($X per unit), while the price for South Korea ($X per unit) and France ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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