Vietnam: Tap And Valve Market 2024

Tap And Valve Market Size in Vietnam

The Vietnamese tap and valve market reduced to $X in 2022, declining by X% against the previous year. Over the period under review, consumption showed a deep downturn. Tap and valve consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Tap And Valve Production in Vietnam

In value terms, tap and valve production stood at $X in 2022 estimated in export price. Overall, production recorded a deep downturn. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Tap And Valve Exports

Exports from Vietnam

In 2022, shipments abroad of taps, cocks, valves and similar appliances increased by X% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports showed a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, tap and valve exports soared to $X in 2022. In general, exports posted a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons), Japan (X tons) and China (X tons) were the main destinations of tap and valve exports from Vietnam, together comprising X% of total exports. South Korea, Thailand, India, Mexico and Romania lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tap and valve exported from Vietnam were the United States ($X), Japan ($X) and China ($X), with a combined X% share of total exports. South Korea, Thailand, India, Mexico and Romania lagged somewhat behind, together comprising a further X%.

South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among 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

In 2022, the average tap and valve export price amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, recorded a slight contraction. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were China ($X per ton) and South Korea ($X per ton), while the average price for exports to India ($X per ton) and Romania ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Vietnam

In 2022, the amount of taps, cocks, valves and similar appliances imported into Vietnam dropped notably to X tons, which is down by X% against 2021 figures. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, tap and valve imports declined 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 most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of tap and valve to Vietnam, accounting for a X% share of total imports. Moreover, tap and valve imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold. The third position in this ranking was held by South Korea (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

In value terms, China ($X) constituted the largest supplier of taps, cocks, valves and similar appliances to Vietnam, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with an X% share of total imports. It was followed by South Korea, with an X% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

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%. 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 highest price was recorded for prices from South Korea ($X per ton) and Japan ($X per ton), while the price for France ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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