Australia: Stainless Steel Sink Market 2024

Stainless Steel Sink Market Size in Australia

In 2021, the Australian stainless steel sink market increased by 30% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Stainless Steel Sink Exports

Exports from Australia

In 2021, stainless steel sink exports from Australia surged to X units, jumping by 191% on the year before. Overall, exports posted a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, stainless steel sink exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a mild decrease. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Vanuatu (X units) was the main destination for stainless steel sink exports from Australia, with a 57% share of total exports. Moreover, stainless steel sink exports to Vanuatu exceeded the volume sent to the second major destination, New Zealand (X units), threefold. Malawi (X units) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2021, the average annual growth rate of volume to Vanuatu totaled +30.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+17.0% per year) and Malawi (+73.8% per year).

In value terms, New Zealand ($X) emerged as the key foreign market for stainless steel sink exports from Australia, comprising 51% of total exports. The second position in the ranking was held by Vanuatu ($X), with a 25% share of total exports. It was followed by Papua New Guinea, with a 3.5% share.

From 2012 to 2021, the average annual growth rate of value to New Zealand stood at +13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vanuatu (+26.4% per year) and Papua New Guinea (-19.5% per year).

Export Prices by Country

In 2021, the average stainless steel sink export price amounted to $X per unit, growing by 3.5% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt downturn. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per unit), while the average price for exports to Malawi ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Stainless Steel Sink Imports

Imports into Australia

In 2021, supplies from abroad of stainless steel sinks and wash basins was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, continue to indicate a slight decline. Over the period under review, imports reached the peak figure at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, stainless steel sink imports soared to $X in 2021. The total import value increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of stainless steel sink to Australia, accounting for a 82% share of total imports. Moreover, stainless steel sink imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), more than tenfold. Switzerland (X units) ranked third in terms of total imports with a 1.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-3.4% per year) and Switzerland (+14.9% per year).

In value terms, China ($X) constituted the largest supplier of stainless steel sink to Australia, comprising 82% of total imports. The second position in the ranking was held by Thailand ($X), with a 6.7% share of total imports. It was followed by Switzerland, with a 1.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+2.7% per year) and Switzerland (-2.9% per year).

Import Prices by Country

The average stainless steel sink import price stood at $X per unit in 2021, flattening at the previous year. Overall, import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, stainless steel sink import price increased by +1.1% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 59%. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Thailand ($X per unit) and Switzerland ($X per unit), while the price for China ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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