Vietnam: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in Vietnam

The Vietnamese pressure-reducing iron valve market stood at $X in 2022, surging by 10% against the previous year. Overall, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -11.3% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Pressure-Reducing Iron Valve Production in Vietnam

In value terms, pressure-reducing iron valve production rose sharply to $X in 2022 estimated in export price. Overall, production recorded a tangible expansion. The most prominent rate of growth was recorded in 2020 with an increase of 61% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Pressure-Reducing Iron Valve Exports

Exports from Vietnam

In 2022, after two years of growth, there was significant decline in overseas shipments of pressure-reducing, control, check and safety valves, when their volume decreased by -7% to X units. In general, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2014 when exports increased by 215% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2021, and then fell in the following year.

In value terms, pressure-reducing iron valve exports fell dramatically to $X in 2022. Overall, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 417%. Over the period under review, the exports reached the peak figure at $X in 2021, and then declined sharply in the following year.

Exports by Country

The United States (X units) was the main destination for pressure-reducing iron valve exports from Vietnam, accounting for a 41% share of total exports. Moreover, pressure-reducing iron valve exports to the United States exceeded the volume sent to the second major destination, South Korea (X units), twofold. The third position in this ranking was held by the Netherlands (X units), with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +431.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+96.9% per year) and the Netherlands (+5.1% per year).

In value terms, the largest markets for pressure-reducing iron valve exported from Vietnam were the United States ($X), the Netherlands ($X) and South Korea ($X), with a combined 67% share of total exports.

The United States, with a CAGR of +416.3%, saw the highest rates of growth with regard to 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

In 2022, the average pressure-reducing iron valve export price amounted to $X per unit, falling by -11.1% against the previous year. Over the period under review, the export price, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2016 an increase of 64% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2021, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+23.8%), while the prices for the other major destinations experienced more modest paces of growth.

Pressure-Reducing Iron Valve Imports

Imports into Vietnam

In 2022, approx. X units of pressure-reducing, control, check and safety valves were imported into Vietnam; with a decrease of -3.8% on the year before. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 38%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, pressure-reducing iron valve imports shrank modestly to $X in 2022. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +4.8% against 2020 indices. The growth pace was the most rapid in 2014 when imports increased by 51% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of pressure-reducing iron valve to Vietnam, accounting for a 75% share of total imports. Moreover, pressure-reducing iron valve imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), tenfold. Japan (X units) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+6.7% per year) and Japan (-9.4% per year).

In value terms, China ($X) constituted the largest supplier of pressure-reducing, control, check and safety valves to Vietnam, comprising 53% of total imports. The second position in the ranking was held by South Korea ($X), with a 12% share of total imports. It was followed by Japan, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+10.2% per year) and Japan (-1.1% per year).

Import Prices by Country

In 2022, the average pressure-reducing iron valve import price amounted to $X per unit, standing approx. at the previous year. Overall, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pressure-reducing iron valve import price increased by +1.9% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 38% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2021, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform