United Kingdom: Tap And Valve Market 2024

Tap And Valve Market Size in the UK

In 2023, the UK tap and valve market increased by X% to $X, rising for the third year in a row after two years of decline. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Tap And Valve Production in the UK

In value terms, tap and valve production reduced modestly to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Tap and valve production peaked at $X in 2014; however, from 2015 to 2023, production stood at a somewhat lower figure.

Tap And Valve Exports

Exports from the UK

In 2023, after three years of growth, there was significant decline in shipments abroad of taps, cocks, valves and similar appliances, when their volume decreased by X% to X tons. Over the period under review, exports continue to indicate a pronounced downturn. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, tap and valve exports rose modestly to $X in 2023. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by X%. As a result, the exports attained the peak of $X. From 2015 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons), Germany (X tons) and the United States (X tons) were the main destinations of tap and valve exports from the UK, together comprising X% of total exports. China, the United Arab Emirates, Ireland, Egypt, the Netherlands, France, Italy, Brazil, Norway and Singapore lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Brazil (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tap and valve exported from the UK were the United States ($X), Germany ($X) and China ($X), together comprising X% of total exports.

In terms of the main countries of destination, Germany, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average tap and valve export price stood at $X per ton in 2023, increasing by X% against the previous year. In general, export price indicated buoyant growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, tap and valve export price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2023, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Ireland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into the UK

In 2023, tap and valve imports into the UK reduced slightly to X tons, shrinking by X% compared with 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked at X tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, tap and valve imports rose sharply to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2023 and are expected to retain growth in the near future.

Imports by Country

In 2023, China (X tons) constituted the largest tap and valve supplier to the UK, accounting for a X% share of total imports. Moreover, tap and valve imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was held by Germany (X tons), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Germany (X% per year).

In value terms, the United States ($X), China ($X) and Germany ($X) were the largest tap and valve suppliers to the UK, with a combined X% share of total imports. Italy, France, Spain, Japan, Poland, the Czech Republic, Denmark, India, Turkey and Ireland lagged somewhat behind, together comprising a further X%.

The Czech Republic, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average tap and valve import price stood at $X per ton in 2023, surging by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2022 an increase of X%. The import price peaked in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Ireland ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform