GCC: Tap And Valve Market 2024

Tap And Valve Market Size in GCC

The GCC tap and valve market shrank significantly to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption saw a perceptible decrease. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Tap And Valve Production in GCC

In value terms, tap and valve production surged to $X in 2022 estimated in export price. Over the period under review, production, however, showed a noticeable slump. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Tap And Valve Exports

Exports in GCC

For the third consecutive year, GCC recorded growth in overseas shipments of taps, cocks, valves and similar appliances, which increased by X% to X tons in 2022. Overall, exports posted a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tap and valve exports surged to $X in 2022. In general, exports posted a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates prevails in exports structure, accounting for X tons, which was approx. X% of total exports in 2022. The following exporters - Saudi Arabia (X tons) and Kuwait (X tons) - together made up X% of total exports.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. Saudi Arabia experienced a relatively flat trend pattern. From 2012 to 2022, the share of the United Arab Emirates and Kuwait increased by X and X percentage points, respectively.

In value terms, the United Arab Emirates ($X) remains the largest tap and valve supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

In the United Arab Emirates, tap and valve exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Kuwait (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, waning by X% against the previous year. Export price indicated noticeable growth from 2012 to 2022: its price 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, tap and valve export price decreased by X% against 2020 indices. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced mixed trends in the export price figures.

Tap And Valve Imports

Imports in GCC

In 2022, the amount of taps, cocks, valves and similar appliances imported in GCC fell modestly to X tons, which is down by X% compared with 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, tap and valve imports shrank to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) and the United Arab Emirates (X tons) represented the largest importers of taps, cocks, valves and similar appliances in GCC, together committing X% of total imports. It was distantly followed by Kuwait (X tons) and Oman (X tons), together committing an X% share of total imports. Bahrain (X tons) followed a long way behind the leaders.

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

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

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

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, approximately mirroring the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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