Republic of Korea: Check Valve Market 2024

Check Valve Market Size in Republic of Korea

In 2022, after six years of growth, there was significant decline in the South Korean check valve market, when its value decreased by X% to $X. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2021, and then contracted in the following year.

Check Valve Production in Republic of Korea

In value terms, check valve production rose to $X in 2022 estimated in export price. In general, production showed a mild setback. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Check Valve Exports

Exports from Republic of Korea

After three years of decline, overseas shipments of check valves for pipes, boiler shells, tanks and vats increased by X% to X tons in 2022. Overall, exports, however, showed a perceptible setback. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, check valve exports expanded remarkably to $X in 2022. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for check valve exports from South Korea, with a X% share of total exports. Moreover, check valve exports to the United States exceeded the volume sent to the second major destination, China (X tons), threefold. Indonesia (X tons) ranked third in terms of total exports with an 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: China (X% per year) and Indonesia (X% per year).

In value terms, China ($X), the United States ($X) and Mexico ($X) were the largest markets for check valve exported from South Korea worldwide, with a combined X% share of total exports. India, Taiwan (Chinese), Saudi Arabia, Indonesia, Japan, Canada, the United Arab Emirates, Turkey, Thailand and Vietnam lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, India, 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

The average check valve export price stood at $X per ton in 2022, approximately reflecting the previous year. Overall, export price indicated resilient 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, check valve export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Indonesia ($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 India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Check Valve Imports

Imports into Republic of Korea

Check valve imports into South Korea shrank sharply to X tons in 2022, falling by X% compared with the previous year. Over the period under review, total imports indicated strong growth from 2012 to 2022: its volume 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, imports decreased by X% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at X tons in 2021, and then reduced dramatically in the following year.

In value terms, check valve imports expanded to $X in 2022. Overall, total imports indicated tangible growth 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid 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 somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of check valve to South Korea, with a X% share of total imports. It was followed by the United States (X tons), with a X% share of total imports. The third position in this ranking was held by Germany (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Germany (X% per year).

In value terms, China ($X), the United States ($X) and Japan ($X) were the largest check valve suppliers to South Korea, with a combined X% share of total imports.

In terms of the main suppliers, China, with a CAGR of X%, saw the highest rates of growth with regard to 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 average check valve import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price, however, recorded a noticeable contraction. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($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) :