China: Pressure-Reducing Iron Valve Market 2023

Pressure-Reducing Iron Valve Market Size in China

The Chinese pressure-reducing iron valve market declined to $X in 2021, falling by -8.9% against the previous year. In general, consumption recorded a noticeable setback. Pressure-reducing iron valve consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Pressure-Reducing Iron Valve Production in China

In value terms, pressure-reducing iron valve production reduced slightly to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 7.5%. Pressure-reducing iron valve production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Pressure-Reducing Iron Valve Exports

Exports from China

In 2021, exports of pressure-reducing, control, check and safety valves from China surged to X units, increasing by 30% on 2020 figures. Overall, total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +10.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +38.1% against 2014 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 49% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, pressure-reducing iron valve exports skyrocketed to $X in 2021. In general, total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +9.7% 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 +50.0% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for pressure-reducing iron valve exports from China, accounting for a 12% share of total exports. Moreover, pressure-reducing iron valve exports to the United States exceeded the volume sent to the second major destination, Bangladesh (X units), twofold. Vietnam (X units) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+56.0% per year) and Vietnam (+21.2% per year).

In value terms, the United States ($X), Japan ($X) and South Korea ($X) were the largest markets for pressure-reducing iron valve exported from China worldwide, with a combined 32% share of total exports. Vietnam, Indonesia, Mexico, Malaysia, the Philippines, Hong Kong SAR, Brazil, Bangladesh, Iraq and El Salvador lagged somewhat behind, together comprising a further 22%.

In terms of the main countries of destination, Bangladesh, with a CAGR of +44.3%, recorded the highest growth rate of 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 pressure-reducing iron valve export price stood at $X per unit in 2021, with an increase of 2.7% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 31% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Japan ($X per unit), while the average price for exports to El Salvador ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Pressure-Reducing Iron Valve Imports

Imports into China

In 2021, supplies from abroad of pressure-reducing, control, check and safety valves was finally on the rise to reach X units after three years of decline. The total import volume increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, pressure-reducing iron valve imports surged to $X in 2021. The total import value increased at an average annual rate of +3.3% from 2012 to 2021; 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 26% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

Japan (X units), the United States (X units) and Italy (X units) were the main suppliers of pressure-reducing iron valve imports to China, with a combined 50% share of total imports. These countries were followed by Germany, South Korea, Thailand, Taiwan (Chinese), France, Hungary, the UK and Mexico, which together accounted for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +51.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest pressure-reducing iron valve suppliers to China were Japan ($X), Germany ($X) and the United States ($X), with a combined 57% share of total imports. Italy, South Korea, Hungary, France, the UK, Taiwan (Chinese), Mexico and Thailand lagged somewhat behind, together comprising a further 31%.

Thailand, with a CAGR of +49.8%, recorded 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 pressure-reducing iron valve import price stood at $X per unit in 2021, shrinking by -21.1% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 12% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2020, and then shrank markedly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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