Global Check Valve Market 2024

Check Valve Market Size

In 2021, after six years of growth, there was significant decline in the global check valve market, when its value decreased by -22.8% to $X. Overall, consumption, however, saw a resilient expansion. As a result, consumption reached the peak level of $X, and then contracted rapidly in the following year.

Check Valve Production

In value terms, check valve production shrank sharply to $X in 2021 estimated in export price. In general, production, however, saw a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 53%. As a result, production attained the peak level of $X, and then dropped significantly in the following year.

Check Valve Exports

Exports

In 2021, approx. X units of check valves for pipes, boiler shells, tanks and vats were exported worldwide; with an increase of 33% on 2020. In general, total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +145.8% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 55% against the previous year. Over the period under review, the global exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, check valve exports expanded notably to $X in 2021. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the major exporting country with an export of about X units, which accounted for 30% of total exports. The United States (X units) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Germany (8.6%), Italy (8.3%) and the Netherlands (5.7%). The following exporters - Spain (X units), France (X units), Poland (X units), Mexico (X units), the Czech Republic (X units), Japan (X units), Taiwan (Chinese) (X units) and Indonesia (X units) - together made up 20% of total exports.

Exports from China increased at an average annual rate of +3.8% from 2012 to 2021. At the same time, Poland (+22.4%), the Czech Republic (+19.1%), the Netherlands (+18.5%), Spain (+16.1%), Italy (+12.8%), Germany (+11.8%), France (+8.4%), the United States (+4.6%), Indonesia (+4.3%) and Taiwan (Chinese) (+4.2%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the world, with a CAGR of +22.4% from 2012-2021. Mexico experienced a relatively flat trend pattern. By contrast, Japan (-1.7%) illustrated a downward trend over the same period. While the share of the Netherlands (+3.6 p.p.), Italy (+3.5 p.p.), Germany (+3.2 p.p.), Spain (+2.4 p.p.) and Poland (+2.4 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Japan (-1.7 p.p.) and China (-6.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest check valve supplying countries worldwide were China ($X), the United States ($X) and Germany ($X), together comprising 48% of global exports. Japan, Italy, the Netherlands, France, Mexico, Taiwan (Chinese), Spain, the Czech Republic, Indonesia and Poland lagged somewhat behind, together accounting for a further 26%.

In terms of the main exporting countries, Poland, with a CAGR of +11.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average check valve export price stood at $X per unit in 2021, which is down by -14.3% against the previous year. Over the period under review, the export price continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2014 when the average export price increased by 57%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per unit), while Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.7%), while the other global leaders experienced more modest paces of growth.

Check Valve Imports

Imports

In 2021, overseas purchases of check valves for pipes, boiler shells, tanks and vats increased by 46% to X units, rising for the fifth year in a row after two years of decline. Over the period under review, imports enjoyed a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, check valve imports surged to $X in 2021. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States represented the major importer of check valves for pipes, boiler shells, tanks and vats in the world, with the volume of imports reaching X units, which was near 33% of total imports in 2021. It was distantly followed by France (X units), creating a 4.9% share of total imports. The following importers - Russia (X units), the Netherlands (X units), Spain (X units), Germany (X units), Italy (X units), China (X units), Mexico (X units), Thailand (X units), Poland (X units), South Korea (X units) and the UK (X units) - together made up 33% of total imports.

Imports into the United States increased at an average annual rate of +14.4% from 2012 to 2021. At the same time, the Netherlands (+26.5%), Spain (+23.8%), Italy (+20.7%), Poland (+16.9%), Russia (+16.4%), France (+14.7%), Thailand (+11.9%), Germany (+11.3%), South Korea (+3.1%), the UK (+2.8%) and China (+2.7%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of +26.5% from 2012-2021. Mexico experienced a relatively flat trend pattern. The United States (+12 p.p.), the Netherlands (+3 p.p.), Spain (+2.8 p.p.), Italy (+2 p.p.), Russia (+1.9 p.p.) and France (+1.8 p.p.) significantly strengthened its position in terms of the global imports, while China and Mexico saw its share reduced by -2.2% and -2.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest check valve importing markets worldwide were China ($X), the United States ($X) and Mexico ($X), with a combined 32% share of global imports. Germany, France, the UK, Russia, South Korea, Italy, Thailand, the Netherlands, Spain and Poland lagged somewhat behind, together accounting for a further 23%.

In terms of the main importing countries, Spain, with a CAGR of +6.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average check valve import price stood at $X per unit in 2021, reducing by -20.5% against the previous year. Overall, the import price recorded a deep reduction. The pace of growth appeared the most rapid in 2018 when the average import price increased by 5.8%. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+2.5%), while the other global leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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