Vietnam: Market for Process Control, Gate, Globe and Other Valves 2024

Market Size for Process Control, Gate, Globe and Other Valves in Vietnam

The Vietnamese market for process control, gate, globe and other valves reduced to $X in 2022, which is down by -10% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Process Control, Gate, Globe and Other Valves in Vietnam

In value terms, production of process control, gate, globe and other valves dropped rapidly to $X in 2022 estimated in export price. Overall, production saw a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 106%. Production of peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Process Control, Gate, Globe and Other Valves

Exports from Vietnam

In 2022, after two years of growth, there was significant decline in overseas shipments of process control, gate, globe and other valves, when their volume decreased by -7.5% to X tons. In general, total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +22.2% against 2019 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 23% against the previous year. Over the period under review, the exports of reached the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, exports of process control, gate, globe and other valves declined to $X in 2022. Overall, total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +10.0% against 2019 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 24%. Over the period under review, the exports of reached the peak figure at $X in 2021, and then declined in the following year.

Exports by Country

The United States (X tons), Japan (X tons) and South Korea (X tons) were the main destinations of exports of process control, gate, globe and other valves from Vietnam, together comprising 65% of total exports. Thailand, China, Mexico, India, Taiwan (Chinese), Romania and Ukraine lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +39.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and South Korea ($X) were the largest markets for process control, gate, globe and other valves exported from Vietnam worldwide, with a combined 63% share of total exports. These countries were followed by China, Thailand, Mexico, India, Romania, Taiwan (Chinese) and Ukraine, which together accounted for a further 30%.

Thailand, with a CAGR of +38.4%, 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

In 2022, the average export price for process control, gate, globe and other valves amounted to $X per ton, remaining stable against the previous year. Over the period under review, the export price, however, showed a mild reduction. The pace of growth appeared the most rapid in 2016 an increase of 13%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Ukraine ($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 South Korea (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Process Control, Gate, Globe and Other Valves

Imports into Vietnam

Imports of process control, gate, globe and other valves into Vietnam expanded significantly to X tons in 2022, growing by 9.9% compared with 2021. In general, imports saw a prominent increase. The growth pace was the most rapid in 2020 when imports increased by 254% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of process control, gate, globe and other valves rose sharply to $X in 2022. Over the period under review, imports showed a buoyant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 102% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest process control, gate, globe and other valves supplier to Vietnam, with a 48% share of total imports. Moreover, imports of process control, gate, globe and other valves from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fourfold. Japan (X tons) ranked third in terms of total imports with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +23.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+12.2% per year) and Japan (+7.2% per year).

In value terms, China ($X) constituted the largest supplier of process control, gate, globe and other valves to Vietnam, comprising 50% of total imports. The second position in the ranking was taken by South Korea ($X), with an 11% share of total imports. It was followed by Japan, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+14.3% per year) and Japan (+3.7% per year).

Import Prices by Country

In 2022, the average import price for process control, gate, globe and other valves amounted to $X per ton, falling by -1.6% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 45% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat 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 Italy ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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