Middle East: Safety Valve Market 2024

Safety Valve Market Size in the Middle East

The Middle Eastern safety valve market totaled $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption showed a noticeable reduction. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Safety Valve Production in the Middle East

In value terms, safety valve production amounted to $X in 2022 estimated in export price. The total production indicated a mild expansion 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Safety Valve Exports

Exports in the Middle East

In 2022, shipments abroad of safety or relief valves for pipes, boiler shells, tanks and vats increased by X% to X tons, rising for the sixth year in a row after two years of decline. In general, exports posted a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, safety valve exports expanded sharply to $X in 2022. Overall, exports saw prominent growth. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

Turkey (X tons) and the United Arab Emirates (X tons) prevails in exports structure, together committing X% of total exports. It was distantly followed by Kuwait (X tons) and Israel (X tons), together constituting a X% share of total exports. The following exporters - Oman (X tons) and Saudi Arabia (X tons) - each resulted at a X% share of total exports.

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

In value terms, the largest safety valve supplying countries in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Israel ($X), with a combined X% share of total exports. Saudi Arabia, Kuwait and Oman lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Oman, with a CAGR of X%, saw 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 export price in the Middle East stood at $X per ton in 2022, which is down by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per ton), while Oman ($X per ton) was amongst the lowest.

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

Safety Valve Imports

Imports in the Middle East

In 2022, the amount of safety or relief valves for pipes, boiler shells, tanks and vats imported in the Middle East totaled X tons, stabilizing at 2021 figures. In general, imports, however, showed a noticeable downturn. The pace of growth was the most pronounced in 2020 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, safety valve imports expanded significantly to $X in 2022. Over the period under review, imports, however, showed a slight descent. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Saudi Arabia represented the major importing country with an import of about X tons, which accounted for X% of total imports. Turkey (X tons) ranks second in terms of the total imports with a X% share, followed by the United Arab Emirates (X%). Oman (X tons), Iran (X tons), Kuwait (X tons) and Iraq (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to safety valve imports into Saudi Arabia stood at X%. At the same time, Turkey (X%), Oman (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. Iraq experienced a relatively flat trend pattern. By contrast, Iran (X%) and Kuwait (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, the United Arab Emirates, Kuwait and Oman increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

Among the main importing countries, Turkey, 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

In 2022, the import price in the Middle East amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 when the import price increased by X%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Oman ($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 more modest paces of growth.

Source: IndexBox Platform

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