ASEAN: Market for Table, Kitchen Or Household Articles And Parts Of Stainless Steel 2024

Market Size for Table, Kitchen Or Household Articles And Parts Of Stainless Steel in ASEAN

In 2021, after nine years of growth, there was decline in the ASEAN stainless steel household articles market, when its value decreased by -4.2% to $X. The total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +79.5% against 2012 indices. As a result, consumption attained the peak level of $X, and then fell in the following year.

Production of Table, Kitchen Or Household Articles And Parts Of Stainless Steel in ASEAN

In value terms, stainless steel household articles production contracted to $X in 2021 estimated in export price. The total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +45.2% against 2016 indices. The most prominent rate of growth was recorded in 2020 with an increase of 22%. As a result, production reached the peak level of $X, and then fell in the following year.

Exports of Table, Kitchen Or Household Articles And Parts Of Stainless Steel

Exports in ASEAN

In 2021, shipments abroad of table, kitchen or household articles and parts of stainless steel was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, continue to indicate a perceptible reduction. The volume of export peaked at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, stainless steel household articles exports surged to $X in 2021. Over the period under review, exports, however, saw a slight contraction. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Vietnam was the main exporting country with an export of about X units, which reached 70% of total exports. It was distantly followed by Malaysia (X units), Thailand (X units) and Indonesia (X units), together committing a 25% share of total exports. Singapore (X units) took a minor share of total exports.

Vietnam was also the fastest-growing in terms of the table, kitchen or household articles and parts of stainless steel exports, with a CAGR of +7.1% from 2012 to 2021. Malaysia (-1.9%), Singapore (-2.6%), Indonesia (-11.9%) and Thailand (-17.7%) illustrated a downward trend over the same period. Vietnam (+41 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Thailand saw its share reduced by -8% and -33.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest stainless steel household articles supplier in ASEAN, comprising 56% of total exports. The second position in the ranking was held by Thailand ($X), with a 27% share of total exports. It was followed by Indonesia, with a 6.9% share.

In Vietnam, stainless steel household articles exports increased at an average annual rate of +7.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (-6.0% per year) and Indonesia (-9.0% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, growing by 21% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Thailand ($X per unit), while Malaysia ($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 (+14.3%), while the other leaders experienced mixed trends in the export price figures.

Imports of Table, Kitchen Or Household Articles And Parts Of Stainless Steel

Imports in ASEAN

In 2021, the amount of table, kitchen or household articles and parts of stainless steel imported in ASEAN skyrocketed to X units, jumping by 22% compared with the year before. Total imports indicated a tangible expansion from 2012 to 2021: its volume increased at an average annual rate of +4.0% 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 decreased by -3.0% against 2019 indices. The growth pace was the most rapid in 2016 when imports increased by 42% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, stainless steel household articles imports soared to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when imports increased by 36% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of table, kitchen or household articles and parts of stainless steel, namely Indonesia, Malaysia and Thailand, represented more than two-thirds of total import. Vietnam (X units) held an 8.1% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (8.1%), the Philippines (5%) and Myanmar (4.5%).

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +14.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest stainless steel household articles importing markets in ASEAN were Thailand ($X), Singapore ($X) and Vietnam ($X), together accounting for 54% of total imports. Indonesia, Malaysia, the Philippines and Myanmar lagged somewhat behind, together comprising a further 44%.

The Philippines, with a CAGR of +18.6%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2021, increasing by 8.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.5%. The growth pace was the most rapid in 2017 an increase of 32%. Over the period under review, import prices reached the peak figure in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the Philippines ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+23.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform