India Sees Slight Increase in Check Valve Exports, Reaching $39 Million in 2024 - News and Statistics - IndexBox

Feb 23, 2025

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In 2024, overseas shipments of check valves for pipes, boiler shells, tanks and vats decreased by -24.6% to 2.3K tons, falling for the second consecutive year after two years of growth. Overall, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2022 when exports increased by 94% against the previous year. As a result, the exports reached the peak of 3.4K tons. From 2023 to 2024, the growth of the exports remained at a lower figure.

In value terms, check valve exports shrank to $36M (IndexBox estimates) in 2024. Over the period under review, exports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2022 when exports increased by 80%. The exports peaked at $39M in 2023, and then reduced in the following year.

the United States (2K tons) was the main destination for check valve exports from India, with a 68% share of total exports. Moreover, check valve exports to the United States exceeded the volume sent to the second major destination, China (258 tons), eightfold. Canada (99 tons) ranked third in terms of total exports with a 3.3% share.

From 2014 to 2023, the average annual rate of growth in terms of volume to the United States amounted to +20.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+57.8% per year) and Canada (+81.2% per year).

In value terms, the United States ($17M) remains the key foreign market for check valves for pipes, boiler shells, tanks and vats exports from India, comprising 45% of total exports. The second position in the ranking was held by China ($6.6M), with a 17% share of total exports. It was followed by Belgium, with a 7.9% share.

From 2014 to 2023, the average annual growth rate of value to the United States stood at +18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+60.4% per year) and Belgium (+81.8% per year).

In 2024, the check valve price amounted to $12,894 per ton (FOB, India), increasing by 25% against the previous year. Over the period from 2014 to 2023, it increased at an average annual rate of +1.2%. Over the period under review, the average export prices reached the peak figure at $13,594 per ton in 2016; however, from 2017 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Belgium ($35,181 per ton), while the average price for exports to Canada ($5,862 per ton) was amongst the lowest.

From 2014 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+21.4%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the check valve market in India. 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.

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