ASEAN: Pressure-Reducing Iron Valve Market 2024

Pressure-Reducing Iron Valve Market Size in ASEAN

In 2022, after two years of decline, there was significant growth in the ASEAN pressure-reducing iron valve market, when its value increased by X% to $X. Over the period under review, consumption saw a strong increase. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Pressure-Reducing Iron Valve Production in ASEAN

In value terms, pressure-reducing iron valve production rose slightly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Pressure-Reducing Iron Valve Exports

Exports in ASEAN

For the third consecutive year, ASEAN recorded growth in overseas shipments of pressure-reducing, control, check and safety valves, which increased by X% to X units in 2022. The total export volume increased at an average annual rate of X% 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 2014 when exports increased by X%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, pressure-reducing iron valve exports expanded significantly to $X in 2022. Total exports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, Malaysia (X units), distantly followed by Indonesia (X units), Thailand (X units), Singapore (X units) and Vietnam (X units) represented the main exporters of pressure-reducing, control, check and safety valves, together comprising X% of total exports.

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

In value terms, the largest pressure-reducing iron valve supplying countries in ASEAN were Singapore ($X), Thailand ($X) and Vietnam ($X), together accounting for X% of total exports.

Among the main exporting countries, Vietnam, with a CAGR of X%, recorded 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

In 2022, the export price in ASEAN amounted to $X per unit, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, the export prices hit record highs at $X per unit in 2019; afterwards, it flattened through to 2022.

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 Vietnam ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.

Pressure-Reducing Iron Valve Imports

Imports in ASEAN

In 2022, supplies from abroad of pressure-reducing, control, check and safety valves increased by X% to X units, rising for the second consecutive year after three years of decline. Overall, imports, however, showed a mild shrinkage. The pace of growth appeared the most rapid in 2014 when imports increased by X%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, pressure-reducing iron valve imports rose notably to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Indonesia (X units), Thailand (X units) and Malaysia (X units) represented the largest importer of pressure-reducing, control, check and safety valves in ASEAN, constituting X% of total import. Singapore (X units) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Myanmar (X%). Vietnam (X units) and the Philippines (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Singapore ($X), Thailand ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Indonesia, Vietnam, the Philippines and Myanmar lagged somewhat behind, together comprising a further X%.

The Philippines, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. The level of import peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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