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Mar 11, 2025

Asia-Pacific's Taps, Cocks, and Valves Market to Grow at a CAGR of +2.8% through 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: Asia-Pacific - Taps, Cocks, Valves And Similar Appliances - Market Analysis, Forecast, Size, Trends and Insights.

Driven by high demand in Asia-Pacific, the taps, cocks, and valves market is expected to see steady growth with a projected CAGR of +2.8% from 2024 to 2035. Despite a forecasted deceleration in market performance, the industry is poised for expansion in both volume and value terms.

Driven by increasing demand for taps, cocks, valves and similar appliances in Asia-Pacific, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.8% for the period from 2024 to 2035, which is projected to bring the market volume to 5.9M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.8% for the period from 2024 to 2035, which is projected to bring the market value to $91.9B (in nominal wholesale prices) by the end of 2035.

In 2024, consumption of taps, cocks, valves and similar appliances decreased by -2.2% to 4.3M tons, falling for the second consecutive year after ten years of growth. The total consumption indicated a pronounced expansion from 2013 to 2024: its volume increased at an average annual rate of +3.7% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -7.6% against 2022 indices. As a result, consumption reached the peak volume of 4.7M tons. From 2023 to 2024, the growth of the consumption remained at a somewhat lower figure.

The revenue of the tap and valve market in Asia-Pacific reduced modestly to $67.8B in 2024, approximately mirroring 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). The total consumption indicated a perceptible expansion from 2013 to 2024: its value increased at an average annual rate of +4.1% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -6.1% against 2022 indices. Over the period under review, the market attained the peak level at $72.1B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

China (2.4M tons) remains the largest tap and valve consuming country in Asia-Pacific, comprising approx. 55% of total volume. Moreover, tap and valve consumption in China exceeded the figures recorded by the second-largest consumer, India (433K tons), fivefold. The third position in this ranking was taken by Indonesia (391K tons), with a 9% share.

In China, tap and valve consumption expanded at an average annual rate of +2.7% over the period from 2013-2024. In the other countries, the average annual rates were as follows: India (+14.1% per year) and Indonesia (+5.1% per year).

In value terms, China ($30.5B) led the market, alone. The second position in the ranking was taken by India ($6.6B). It was followed by South Korea.

In China, the tap and valve market increased at an average annual rate of +3.0% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of market growth: India (+14.6% per year) and South Korea (+7.1% per year).

The countries with the highest levels of tap and valve per capita consumption in 2024 were South Korea (4.4 kg per person), Thailand (2.3 kg per person) and Malaysia (2.2 kg per person).

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by India (with a CAGR of +13.0%), while consumption for the other leaders experienced more modest paces of growth.

In 2024, the amount of taps, cocks, valves and similar appliances produced in Asia-Pacific rose to 5.7M tons, with an increase of 2.5% against 2023 figures. The total production indicated noticeable growth from 2013 to 2024: its volume increased at an average annual rate of +3.8% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -2.4% against 2022 indices. The pace of growth was the most pronounced in 2015 with an increase of 28% against the previous year. Over the period under review, production hit record highs at 5.9M tons in 2022; however, from 2023 to 2024, production remained at a lower figure.

In value terms, tap and valve production rose to $87.8B in 2024 estimated in export price. The total production indicated a measured increase from 2013 to 2024: its value increased at an average annual rate of +4.3% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -3.2% against 2022 indices. The most prominent rate of growth was recorded in 2022 with an increase of 14%. As a result, production attained the peak level of $90.6B. From 2023 to 2024, production growth failed to regain momentum.

The country with the largest volume of tap and valve production was China (3.9M tons), comprising approx. 69% of total volume. Moreover, tap and valve production in China exceeded the figures recorded by the second-largest producer, India (413K tons), tenfold. Indonesia (333K tons) ranked third in terms of total production with a 5.8% share.

In China, tap and valve production increased at an average annual rate of +3.3% over the period from 2013-2024. The remaining producing countries recorded the following average annual rates of production growth: India (+10.4% per year) and Indonesia (+7.1% per year).

Tap and valve imports shrank to 704K tons in 2024, which is down by -14.9% compared with the previous year's figure. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 14%. The volume of import peaked at 828K tons in 2023, and then dropped in the following year.

In value terms, tap and valve imports reached $23.1B in 2024. The total import value increased at an average annual rate of +2.4% from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. The level of import peaked in 2024 and is expected to retain growth in years to come.

The purchases of the nine major importers of taps, cocks, valves and similar appliances, namely China, India, South Korea, Indonesia, Malaysia, Japan, Thailand, Vietnam and Singapore, represented more than two-thirds of total import. It was distantly followed by Taiwan (Chinese) (32K tons), mixing up a 4.6% share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by India (with a CAGR of +11.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($7.9B) constitutes the largest market for imported taps, cocks, valves and similar appliances in Asia-Pacific, comprising 34% of total imports. The second position in the ranking was taken by South Korea ($2.2B), with a 9.4% share of total imports. It was followed by India, with an 8.1% share.

In China, tap and valve imports increased at an average annual rate of +1.5% over the period from 2013-2024. In the other countries, the average annual rates were as follows: South Korea (+2.0% per year) and India (+8.0% per year).

Process control, gate, globe and other valves prevails in imports structure, resulting at 568K tons, which was near 78% of total imports in 2024. It was distantly followed by valves; for oleohydraulic or pneumatic transmissions (70K tons) and check valves for pipes, boiler shells, tanks and vats (36K tons), together generating a 14% share of total imports. The following types - safety or relief valves for pipes, boiler shells, tanks and vats (31K tons) and valves; pressure reducing, for pipes, boiler shells, tanks, vats or the like (27K tons) - each finished at a 7.9% share of total imports.

From 2013 to 2024, average annual rates of growth with regard to process control, gate, globe and other valves imports of stood at +1.1%. At the same time, valves; for oleohydraulic or pneumatic transmissions (+2.7%) and safety or relief valves for pipes, boiler shells, tanks and vats (+2.3%) displayed positive paces of growth. Moreover, valves; for oleohydraulic or pneumatic transmissions emerged as the fastest-growing type imported in Asia-Pacific, with a CAGR of +2.7% from 2013-2024. Check valves for pipes, boiler shells, tanks and vats experienced a relatively flat trend pattern. By contrast, valves; pressure reducing, for pipes, boiler shells, tanks, vats or the like (-1.9%) illustrated a downward trend over the same period. The shares of the largest types remained relatively stable throughout the analyzed period.

In value terms, process control, gate, globe and other valves ($16.2B) constitutes the largest type of taps, cocks, valves and similar appliances imported in Asia-Pacific, comprising 69% of total imports. The second position in the ranking was taken by valves; for oleohydraulic or pneumatic transmissions ($3.2B), with a 14% share of total imports. It was followed by valves; pressure reducing, for pipes, boiler shells, tanks, vats or the like, with a 6.6% share.

For process control, gate, globe and other valves, imports increased at an average annual rate of +1.9% over the period from 2013-2024. With regard to the other imported products, the following average annual rates of growth were recorded: valves; for oleohydraulic or pneumatic transmissions (+3.6% per year) and valves; pressure reducing, for pipes, boiler shells, tanks, vats or the like (+3.7% per year).

The import price in Asia-Pacific stood at $32,834 per ton in 2024, with an increase of 20% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +1.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the product type; the product with the highest price was valves; pressure reducing, for pipes, boiler shells, tanks, vats or the like ($57,596 per ton), while the price for process control, gate, globe and other valves ($28,571 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by valves; pressure reducing, for pipes, boiler shells, tanks, vats or the like (+5.7%), while the other products experienced more modest paces of growth.

In 2024, the import price in Asia-Pacific amounted to $32,834 per ton, growing by 20% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +1.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($61,445 per ton), while Indonesia ($9,810 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.3%), while the other leaders experienced more modest paces of growth.

In 2024, overseas shipments of taps, cocks, valves and similar appliances increased by 5.9% to 2.1M tons, rising for the fourth consecutive year after two years of decline. Total exports indicated a pronounced increase from 2013 to 2024: its volume increased at an average annual rate of +3.0% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +25.7% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 94%. Over the period under review, the exports hit record highs in 2024 and are expected to retain growth in the immediate term.

In value terms, tap and valve exports rose slightly to $31.2B in 2024. Total exports indicated a temperate increase from 2013 to 2024: its value increased at an average annual rate of +4.1% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +32.7% against 2018 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 20%. The level of export peaked in 2024 and is expected to retain growth in the near future.

China dominates exports structure, amounting to 1.7M tons, which was near 81% of total exports in 2024. The following exporters - Japan (68K tons), India (66K tons), South Korea (64K tons), Taiwan (Chinese) (56K tons), Vietnam (46K tons) and Thailand (35K tons) - together made up 16% of total exports.

Exports from China increased at an average annual rate of +3.8% from 2013 to 2024. At the same time, Vietnam (+9.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +9.3% from 2013-2024. Taiwan (Chinese), India and Thailand experienced a relatively flat trend pattern. By contrast, Japan (-1.8%) and South Korea (-3.3%) illustrated a downward trend over the same period. From 2013 to 2024, the share of China increased by +6.4 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($17.4B) remains the largest tap and valve supplier in Asia-Pacific, comprising 56% of total exports. The second position in the ranking was taken by Japan ($3.1B), with a 9.8% share of total exports. It was followed by South Korea, with a 5.5% share.

In China, tap and valve exports increased at an average annual rate of +4.7% over the period from 2013-2024. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-1.8% per year) and South Korea (+0.0% per year).

Process control, gate, globe and other valves prevails in exports structure, amounting to 2M tons, which was near 89% of total exports in 2024. Check valves for pipes, boiler shells, tanks and vats (90K tons), valves; for oleohydraulic or pneumatic transmissions (81K tons) and valves; pressure reducing, for pipes, boiler shells, tanks, vats or the like (43K tons) followed a long way behind the leaders.

Exports of process control, gate, globe and other valves increased at an average annual rate of +3.5% from 2013 to 2024. At the same time, valves; for oleohydraulic or pneumatic transmissions (+5.3%), valves; pressure reducing, for pipes, boiler shells, tanks, vats or the like (+3.7%) and check valves for pipes, boiler shells, tanks and vats (+2.0%) displayed positive paces of growth. Moreover, valves; for oleohydraulic or pneumatic transmissions emerged as the fastest-growing type exported in Asia-Pacific, with a CAGR of +5.3% from 2013-2024. The shares of the largest types remained relatively stable throughout the analyzed period.

In value terms, process control, gate, globe and other valves ($25.1B) remains the largest type of taps, cocks, valves and similar appliances supplied in Asia-Pacific, comprising 82% of total exports. The second position in the ranking was taken by valves; for oleohydraulic or pneumatic transmissions ($2.4B), with a 7.8% share of total exports. It was followed by check valves for pipes, boiler shells, tanks and vats, with a 3.6% share.

For process control, gate, globe and other valves, exports increased at an average annual rate of +4.0% over the period from 2013-2024. For the other products, the average annual rates were as follows: valves; for oleohydraulic or pneumatic transmissions (+4.2% per year) and check valves for pipes, boiler shells, tanks and vats (+1.9% per year).

The export price in Asia-Pacific stood at $14,698 per ton in 2024, approximately mirroring the previous year. Over the period under review, the export price, however, recorded a mild expansion. The pace of growth was the most pronounced in 2014 when the export price increased by 103%. As a result, the export price reached the peak level of $26,777 per ton. From 2015 to 2024, the export prices remained at a somewhat lower figure.

Prices varied noticeably by the product type; the product with the highest price was safety or relief valves for pipes, boiler shells, tanks and vats ($35,441 per ton), while the average price for exports of check valves for pipes, boiler shells, tanks and vats ($12,101 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by safety valve (+1.0%), while the other products experienced mixed trends in the export price figures.

In 2024, the export price in Asia-Pacific amounted to $14,698 per ton, stabilizing at the previous year. Overall, the export price, however, saw a modest expansion. The pace of growth appeared the most rapid in 2014 when the export price increased by 103% against the previous year. As a result, the export price attained the peak level of $26,777 per ton. From 2015 to 2024, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($45,012 per ton), while China ($10,154 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the tap and valve market in Asia-Pacific. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and Its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Importers on The Market and How They Succeed

The Largest Exporters on The Market and How They Succeed

The Largest Producers on The Market and Their Profiles

The Largest Markets And Their Profiles