Singapore: Check Valve Market 2024

Check Valve Market Size in Singapore

In 2022, the Singaporean check valve market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. Over the period under review, consumption saw a deep slump. As a result, consumption reached the peak level of $X, and then fell notably in the following year.

Check Valve Production in Singapore

In value terms, check valve production contracted sharply to $X in 2022 estimated in export price. Over the period under review, production, however, posted significant growth. The growth pace was the most rapid in 2014 with an increase of X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

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Check Valve Exports

Exports from Singapore

In 2022, shipments abroad of check valves for pipes, boiler shells, tanks and vats increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, recorded a perceptible decline. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, check valve exports skyrocketed to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia (X tons), Saudi Arabia (X tons) and Indonesia (X tons) were the main destinations of check valve exports from Singapore, together comprising X% of total exports.

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

In value terms, Malaysia ($X), Saudi Arabia ($X) and Indonesia ($X) appeared to be the largest markets for check valve exported from Singapore worldwide, with a combined X% share of total exports.

Saudi Arabia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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, reducing by X% against the previous year. Over the period under review, export price indicated pronounced 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. The pace of growth appeared the most rapid in 2015 an increase of X%. The export price peaked at $X per ton in 2021, and then fell dramatically in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Australia ($X per ton) and Vietnam ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Check Valve Imports

Imports into Singapore

Check valve imports into Singapore dropped rapidly to X tons in 2022, falling by X% compared with 2021 figures. In general, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, check valve imports dropped to $X in 2022. Overall, imports continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of check valve to Singapore, with a X% share of total imports. Moreover, check valve imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by the UK (X tons), with a X% share.

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

In value terms, the United States ($X) constituted the largest supplier of check valves for pipes, boiler shells, tanks and vats to Singapore, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the UK (X% per year).

Import Prices by Country

In 2022, the average check valve import price amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per ton) and China ($X per ton), while the price for Norway ($X per ton) and Italy ($X per ton) were 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

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