World - Safety Or Relief Valves For Pipes, Boiler Shells, Tanks And Vats - Market Analysis, Forecast, Size, Trends And Insights
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The global market for safety or relief valves for pipes, boiler shells, tanks, and vats is expected to continue growing over the next eight years, with an anticipated increase in market volume to 316K tons by 2030. Market performance is forecasted to accelerate, with an expected CAGR of +2.3% for the period from 2022 to 2030, bringing the market value to $13.7B by the end of 2030. In 2022, China, the United States, and India were the top consumers, while China remained the largest producer. The United States led in terms of market value, with significant growth recorded in Nigeria. Import and export figures also showed steady growth, with notable increases in Romania's exports. The average global import price stood at $38,544 per ton in 2022, with differences in prices amongst major importing countries. Switzerland had the highest export price at $204,132 per ton in 2022. Overall, the market is projected to see gradual growth in the coming years, with steady performance expected in consumption, production, import, and export metrics.
Market Forecast
Driven by increasing demand for safety or relief valves for pipes, boiler shells, tanks and vats worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.3% for the period from 2022 to 2030, which is projected to bring the market volume to 316K tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +4.0% for the period from 2022 to 2030, which is projected to bring the market value to $13.7B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Safety Or Relief Valves For Pipes, Boiler Shells, Tanks And Vats
In 2022, approx. 263K tons of safety or relief valves for pipes, boiler shells, tanks and vats were consumed worldwide; falling by -5.5% on 2021 figures. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, global consumption attained the peak volume at 279K tons in 2021, and then fell in the following year.
The global safety valve market revenue amounted to $10B in 2022, growing by 3.3% 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). The market value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Global consumption peaked in 2022 and is likely to see steady growth in the immediate term.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were China (59K tons), the United States (36K tons) and India (25K tons), together accounting for 46% of global consumption. Japan, Saudi Arabia, Italy, Nigeria, the UK, Turkey, Germany, South Korea, Canada and Democratic Republic of the Congo lagged somewhat behind, together accounting for a further 27%.
From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +20.3%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($3B) led the market, alone. The second position in the ranking was taken by China ($1.3B). It was followed by Japan.
From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +5.3%. The remaining consuming countries recorded the following average annual rates of market growth: China (+0.9% per year) and Japan (+4.2% per year).
The countries with the highest levels of safety valve per capita consumption in 2022 were Saudi Arabia (247 kg per 1000 persons), Italy (148 kg per 1000 persons) and Japan (124 kg per 1000 persons).
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Nigeria (with a CAGR of +17.3%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Safety Or Relief Valves For Pipes, Boiler Shells, Tanks And Vats
In 2022, the amount of safety or relief valves for pipes, boiler shells, tanks and vats produced worldwide shrank to 230K tons, with a decrease of -5.2% on 2021. The total output volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2015 with an increase of 17%. Over the period under review, global production attained the maximum volume at 243K tons in 2021, and then dropped in the following year.
In value terms, safety valve production rose to $8.9B in 2022 estimated in export price. The total output value increased at an average annual rate of +4.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 20%. Over the period under review, global production attained the maximum level in 2022 and is expected to retain growth in the immediate term.
Production By Country
China (65K tons) remains the largest safety valve producing country worldwide, comprising approx. 28% of total volume. Moreover, safety valve production in China exceeded the figures recorded by the second-largest producer, the United States (32K tons), twofold. India (25K tons) ranked third in terms of total production with an 11% share.
In China, safety valve production expanded at an average annual rate of +2.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+8.6% per year) and India (+0.6% per year).
Imports
World Imports of Safety Or Relief Valves For Pipes, Boiler Shells, Tanks And Vats
In 2022, approx. 128K tons of safety or relief valves for pipes, boiler shells, tanks and vats were imported worldwide; reducing by -1.9% against the previous year's figure. Overall, imports saw a slight descent. The pace of growth appeared the most rapid in 2021 with an increase of 6.8%. Over the period under review, global imports reached the peak figure at 145K tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.
In value terms, safety valve imports expanded remarkably to $4.9B in 2022. The total import value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 10% against the previous year. Global imports peaked in 2022 and are likely to see steady growth in the near future.
Imports By Country
The purchases of the seven major importers of safety or relief valves for pipes, boiler shells, tanks and vats, namely Saudi Arabia, the United States, Mexico, China, Nigeria, Germany and Singapore, represented more than third of total import. The UK (4K tons), France (3.9K tons), Turkey (3.6K tons), Canada (3.4K tons), Japan (2.8K tons) and Poland (2.8K tons) held a relatively small share of total imports.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nigeria (with a CAGR of +20.3%), while imports for the other global leaders experienced more modest paces of growth.
In value terms, the largest safety valve importing markets worldwide were the United States ($466M), China ($374M) and Singapore ($349M), with a combined 24% share of global imports. Germany, Saudi Arabia, Nigeria, Mexico, Canada, the UK, France, Turkey, Japan and Poland lagged somewhat behind, together comprising a further 33%.
In terms of the main importing countries, Nigeria, with a CAGR of +28.3%, 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 safety valve import price stood at $38,544 per ton in 2022, growing by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The pace of growth appeared the most rapid in 2013 an increase of 13% against the previous year. Global import price peaked in 2022 and is likely to see gradual growth in years to come.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($55,085 per ton), while Saudi Arabia ($23,834 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.8%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Safety Or Relief Valves For Pipes, Boiler Shells, Tanks And Vats
In 2022, overseas shipments of safety or relief valves for pipes, boiler shells, tanks and vats increased by 0.3% to 95K tons, rising for the second year in a row after three years of decline. The total export volume increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 31%. As a result, the exports attained the peak of 126K tons. From 2018 to 2022, the growth of the global exports remained at a lower figure.
In value terms, safety valve exports shrank slightly to $4.5B in 2022. The total export value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 20% against the previous year. Over the period under review, the global exports reached the maximum at $4.8B in 2014; however, from 2015 to 2022, the exports remained at a lower figure.
Exports By Country
The shipments of the four major exporters of safety or relief valves for pipes, boiler shells, tanks and vats, namely China, Germany, Italy and Mexico, represented more than third of total export. Japan (4.5K tons) took a 4.8% share (based on physical terms) of total exports, which put it in second place, followed by the United States (4.6%). The following exporters - Turkey (3.4K tons), Taiwan (Chinese) (3.3K tons), Switzerland (3.3K tons), the UK (2.9K tons), France (2.5K tons), Romania (2.4K tons) and Singapore (2.4K tons) - together made up 21% of total exports.
From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +36.1%), while shipments for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($750M), Switzerland ($668M) and Germany ($639M) appeared to be the countries with the highest levels of exports in 2022, with a combined 45% share of global exports. Italy, Japan, China, the UK, Singapore, Mexico, France, Romania, Taiwan (Chinese) and Turkey lagged somewhat behind, together accounting for a further 35%.
Romania, with a CAGR of +37.9%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
The average safety valve export price stood at $47,833 per ton in 2022, approximately reflecting the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 34% against the previous year. The global export price peaked at $53,005 per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($204,132 per ton), while Turkey ($12,979 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.8%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global safety valve market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 28141180 - Safety or relief valves for pipes, boiler shells, tanks, vats and the like
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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