Uruguay: Pressure-Reducing Iron Valve Market 2023

Pressure-Reducing Iron Valve Market Size in Uruguay

The Uruguayan pressure-reducing iron valve market soared to $X in 2021, with an increase of 25% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -11.2% against 2017 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Pressure-Reducing Iron Valve Exports

Exports from Uruguay

In 2021, shipments abroad of pressure-reducing, control, check and safety valves was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 472%. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, pressure-reducing iron valve exports skyrocketed to $X in 2021. In general, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 722%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Hungary (X units) was the main destination for pressure-reducing iron valve exports from Uruguay, accounting for a 92% share of total exports. Moreover, pressure-reducing iron valve exports to Hungary exceeded the volume sent to the second major destination, Peru (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hungary stood at -17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+27.5% per year) and Slovenia (+6.0% per year).

In value terms, Hungary ($X) emerged as the key foreign market for pressure-reducing iron valve exports from Uruguay, comprising 93% of total exports. The second position in the ranking was taken by Slovenia ($X), with a 3.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Hungary amounted to -9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+4.6% per year) and Peru (+41.7% per year).

Export Prices by Country

In 2021, the average pressure-reducing iron valve export price amounted to $X per unit, picking up by 31% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 an increase of 47% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Hungary ($X per unit), while the average price for exports to Peru ($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 Peru (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Pressure-Reducing Iron Valve Imports

Imports into Uruguay

For the third consecutive year, Uruguay recorded growth in supplies from abroad of pressure-reducing, control, check and safety valves, which increased by 25% to X units in 2021. Overall, total imports indicated a tangible expansion from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +24.8% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 78% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, pressure-reducing iron valve imports surged to $X in 2021. In general, imports showed a slight increase. The pace of growth was the most pronounced in 2017 when imports increased by 104% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of pressure-reducing iron valve to Uruguay, with a 53% share of total imports. Moreover, pressure-reducing iron valve imports from China exceeded the figures recorded by the second-largest supplier, Argentina (X units), sixfold. The third position in this ranking was taken by Germany (X units), with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +30.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-2.2% per year) and Germany (+11.9% per year).

In value terms, the largest pressure-reducing iron valve suppliers to Uruguay were China ($X), Brazil ($X) and Argentina ($X), with a combined 45% share of total imports. The United States, Germany, Italy, Israel, Spain, Thailand, Canada and Portugal lagged somewhat behind, together comprising a further 37%.

Among the main suppliers, Canada, with a CAGR of +52.1%, recorded 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 pressure-reducing iron valve import price stood at $X per unit in 2021, increasing by 1.6% against the previous year. In general, the import price, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2017 when the average import price increased by 15%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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