China: Tap And Valve Market 2024

Tap And Valve Market Size in China

In 2022, the Chinese tap and valve market decreased by X% to $X, falling for the second year in a row after six years of growth. Over the period under review, consumption, however, showed a moderate expansion. Tap and valve consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Tap And Valve Production in China

In value terms, tap and valve production dropped to $X in 2022 estimated in export price. The total output value 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 growth pace was the most rapid in 2015 when the production volume increased by X% against the previous year. Tap and valve production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Tap And Valve Exports

Exports from China

In 2022, overseas shipments of taps, cocks, valves and similar appliances increased by X% to X tons, rising for the second consecutive year after two years of decline. 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 in certain years. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, tap and valve exports stood at $X in 2022. Over the period under review, total exports indicated a buoyant expansion 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 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for tap and valve exports from China, accounting for a X% share of total exports. Moreover, tap and valve exports to the United States exceeded the volume sent to the second major destination, Russia (X tons), twofold. Indonesia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Indonesia (X% per year).

In value terms, the United States ($X) remains the key foreign market for taps, cocks, valves and similar appliances exports from China, comprising X% of total exports. The second position in the ranking was taken by Russia ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Germany (X% per year).

Export Prices by Country

The average tap and valve export price stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the United Arab Emirates ($X 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 South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into China

In 2022, after two years of growth, there was significant decline in purchases abroad of taps, cocks, valves and similar appliances, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% over the period 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 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2021, and then shrank remarkably in the following year.

In value terms, tap and valve imports dropped to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2021, and then dropped in the following year.

Imports by Country

Japan (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of tap and valve imports to China, together accounting for X% of total imports. South Korea, the United States, Taiwan (Chinese), Vietnam, India, the UK, Thailand, France and Spain lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest tap and valve suppliers to China were Germany ($X), Japan ($X) and the United States ($X), with a combined X% share of total imports. Italy, South Korea, France, Taiwan (Chinese), the UK, Vietnam, India, Spain and Thailand lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Thailand ($X 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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :