Republic of Korea - Taps, Cocks, Valves And Similar Appliances - Market Analysis, Forecast, Size, Trends and Insights
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View PricingTap and Valve Price in South Korea - 2022
Contents:
- Tap and Valve Price in South Korea (CIF) - 2022
- Tap and Valve Price in South Korea (FOB) - 2022
- Tap and Valve Imports in South Korea
- Tap and Valve Exports in South Korea
Tap and Valve Price in South Korea (CIF) - 2022
In 2022, the average tap and valve import price amounted to $26,614 per ton, surging by 5.6% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 10%. Over the period under review, average import prices hit record highs at $30,728 per ton in 2015; however, from 2016 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 the United States ($79,810 per ton), while the price for China ($11,916 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Tap and Valve Price in South Korea (FOB) - 2022
In 2022, the average tap and valve export price amounted to $21,854 per ton, which is down by -2.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2013 an increase of 10%. Over the period under review, the average export prices hit record highs at $22,495 per ton in 2021, and then reduced slightly in the following year.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($31,230 per ton), while the average price for exports to Bahrain ($9,375 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 Canada (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.
Tap and Valve Imports in South Korea
In 2022, purchases abroad of taps, cocks, valves and similar appliances decreased by -15.9% to 76K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +4.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 28%. As a result, imports reached the peak of 91K tons, and then declined dramatically in the following year.
In value terms, tap and valve imports dropped to $2B in 2022. The total import value increased at an average annual rate of +6.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 29%. As a result, imports reached the peak of $2.3B, and then reduced in the following year.
| Import of Tap and Valve in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 310 | 344 | 538 | 552 | 21.2% |
| Japan | 305 | 389 | 465 | 416 | 10.9% |
| United States | 263 | 238 | 321 | 281 | 2.2% |
| Germany | 145 | 142 | 198 | 182 | 7.9% |
| Vietnam | 57.3 | 65.8 | 81.5 | 80.5 | 12.0% |
| France | 77.2 | 84.8 | 73.4 | 75.0 | -1.0% |
| Italy | 146 | 56.4 | 55.5 | 47.2 | -31.4% |
| Norway | 40.2 | 40.5 | 40.9 | 35.9 | -3.7% |
| India | 21.6 | 26.1 | 26.1 | 20.3 | -2.0% |
| Others | 340 | 389 | 491 | 343 | 0.3% |
| Total | 1,704 | 1,777 | 2,290 | 2,034 | 6.1% |
Top Suppliers of Tap and Valve to South Korea in 2022:
- China (46.3K tons)
- Japan (8.7K tons)
- United States (3.5K tons)
- Germany (2.7K tons)
- Vietnam (2.4K tons)
- France (1.8K tons)
- India (1.6K tons)
- Italy (1.5K tons)
- Norway (1.1K tons)
Tap and Valve Exports in South Korea
In 2022, overseas shipments of taps, cocks, valves and similar appliances were finally on the rise to reach 69K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, showed a pronounced reduction.
In value terms, tap and valve exports fell modestly to $1.5B in 2022. Overall, exports, however, showed a pronounced shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 3.2% against the previous year.
| Export of Tap and Valve in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 337 | 233 | 261 | 343 | 0.6% |
| China | 453 | 453 | 445 | 340 | -9.1% |
| India | 94.9 | 84.4 | 99.0 | 88.9 | -2.2% |
| Japan | 86.2 | 85.0 | 85.1 | 58.0 | -12.4% |
| Indonesia | 41.5 | 41.1 | 63.8 | 56.4 | 10.8% |
| Vietnam | 51.6 | 80.6 | 51.6 | 53.2 | 1.0% |
| Canada | 18.8 | 10.3 | 19.9 | 41.2 | 29.9% |
| United Arab Emirates | 33.4 | 48.3 | 44.7 | 39.8 | 6.0% |
| Mexico | 28.4 | 26.8 | 39.5 | 38.5 | 10.7% |
| Singapore | 26.7 | 30.8 | 29.6 | 26.0 | -0.9% |
| Thailand | 38.8 | 19.5 | 22.0 | 23.0 | -16.0% |
| Saudi Arabia | 23.3 | 20.4 | 13.4 | 17.2 | -9.6% |
| Bahrain | 1.9 | 13.6 | 14.0 | 12.1 | 85.4% |
| Others | 409 | 344 | 349 | 378 | -2.6% |
| Total | 1,644 | 1,491 | 1,538 | 1,514 | -2.7% |
Top Export Markets for Tap and Valve from South Korea in 2022:
- United States (12.9K tons)
- China (10.9K tons)
- Indonesia (4.8K tons)
- Vietnam (4.6K tons)
- India (4.5K tons)
- United Arab Emirates (3.2K tons)
- Japan (2.8K tons)
- Canada (1.7K tons)
- Thailand (1.7K tons)
- Mexico (1.6K tons)
- Singapore (1.4K tons)
- Bahrain (1.3K tons)
- Saudi Arabia (1.1K tons)
This report provides an in-depth analysis of the tap and valve market in Republic of Korea. 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 28121420 - Pneumatic filters, regulators and lubricators
- Prodcom 28121450 - Valves for the control of oleohydraulic power transmission for pipes, boiler shells, tanks, vats and the like
- Prodcom 28121480 - Valves for the control of pneumatic power transmission for pipes, boiler shells, tanks, vats and the like
- Prodcom 28141120 - Pressure-reducing valves of cast iron or steel, for pipes, b oiler shells, tanks, vats and the like (excluding those combined with lubricators or filters)
- Prodcom 28141140 - Pressure-reducing valves for pipes, boiler shells, tanks, vats and the like (excluding of cast iron or steel, those combined with filters or lubricators)
- Prodcom 28141160 - Check valves for pipes, boiler shells, tanks, vats and the like
- Prodcom 28141170 - Valves for pneumatic tyres and inner-tubes
- Prodcom 28141180 - Safety or relief valves for pipes, boiler shells, tanks, vats and the like
- Prodcom 28141233 - Mixing valves for sinks, wash basins, bidets, water cisterns etc. excluding valves for pressure-reducing or oleohydraulic/pneumatic power transmissions, check valves, s afety/relief valves
- Prodcom 28141235 - Taps, cocks and valves for sinks, wash basins, bidets, water cisterns etc. excluding valves for pressurereducing/ oleohydraulic transmissions, check, safety, relief and mixing valves
- Prodcom 28141253 - Central heating radiator thermostatic valves
- Prodcom 28141255 - Central heating radiator valves, other
- Prodcom 28141313 - Other process control valves, temperature regulators
- Prodcom 28141315 - Process control valves for pipes, boiler shells, tanks etc. excluding valves for pressure-reducing or oleohydraulic/pneumatic power transmissions, check, s afety/relief valves, temp. regulators
- Prodcom 28141333 - Other gate valves, of cast iron
- Prodcom 28141335 - Other gate valves, of steel
- Prodcom 28141337 - Other gate valves, other
- Prodcom 28141353 - Globe valves, of cast iron
- Prodcom 28141355 - Globe valves, of steel
- Prodcom 28141357 - Other globe valves
- Prodcom 28141373 - Ball and plug valves
- Prodcom 28141375 - Butterfly valves
- Prodcom 28141377 - Diaphragm valves
- Prodcom 28141380 - Other appliances
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- 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
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
-
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
-
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. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- 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 -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- 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
- 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 Of Origin, 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, By Country Of Destination, 2012–2023
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