Asia: Market for Sanitary Ware And Parts Of Iron Or Steel 2024

Market Size for Sanitary Ware And Parts Of Iron Or Steel in Asia

In 2021, the Asian market for sanitary ware and parts of iron or steel decreased by -4.6% to $X, falling for the second year in a row after eight years of growth. The total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.8% 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 decreased by -9.9% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Sanitary Ware And Parts Of Iron Or Steel in Asia

In value terms, iron or steel sanitary ware production stood at $X in 2021 estimated in export price. The total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -0.6% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 20% against the previous year. The level of production peaked at $X in 2019; afterwards, it flattened through to 2021.

Exports of Sanitary Ware And Parts Of Iron Or Steel

Exports in Asia

In 2021, overseas shipments of sanitary ware and parts of iron or steel increased by 27% to X tons, rising for the fifth consecutive year after three years of decline. Total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +97.2% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, iron or steel sanitary ware exports soared to $X in 2021. Overall, exports recorded a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, amounting to X tons, which was near 91% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X tons), achieving a 4.6% share of total exports. Turkey (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +7.0% from 2012 to 2021. At the same time, Turkey (+7.9%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +7.9% from 2012-2021. By contrast, Taiwan (Chinese) (-1.8%) illustrated a downward trend over the same period. While the share of China (+7.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Taiwan (Chinese) (-4.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest iron or steel sanitary ware supplier in Asia, comprising 90% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 5.7% share of total exports.

In China, iron or steel sanitary ware exports expanded at an average annual rate of +12.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+0.7% per year) and Turkey (+7.3% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, surging by 9.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.6%. The pace of growth appeared the most rapid in 2013 an increase of 13% against the previous year. Over the period under review, the export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Taiwan (Chinese) ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Sanitary Ware And Parts Of Iron Or Steel

Imports in Asia

In 2021, the amount of sanitary ware and parts of iron or steel imported in Asia surged to X tons, increasing by 26% compared with the previous year's figure. The total import volume increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, iron or steel sanitary ware imports soared to $X in 2021. The total import value increased at an average annual rate of +5.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates (X tons), South Korea (X tons), Thailand (X tons), Indonesia (X tons), India (X tons), Iraq (X tons), Japan (X tons), Singapore (X tons), Saudi Arabia (X tons), Vietnam (X tons), Israel (X tons) and Hong Kong SAR (X tons) represented roughly 63% of total imports in 2021. Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Thailand (with a CAGR of +16.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), the United Arab Emirates ($X) and Japan ($X) were the countries with the highest levels of imports in 2021, together comprising 27% of total imports. These countries were followed by Thailand, Singapore, Israel, Vietnam, Hong Kong SAR, Iraq, India, Saudi Arabia, Indonesia and Malaysia, which together accounted for a further 40%.

Israel, with a CAGR of +17.0%, saw the highest growth rate of the value of imports, among 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 Asia stood at $X per ton in 2021, leveling off at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2017 when the import price increased by 10% against the previous year. Over the period under review, import prices hit record highs in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+11.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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