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

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

After two years of growth, the Bangladeshi market for sanitary ware and parts of iron or steel decreased by -2.7% to $X in 2021. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

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

In value terms, iron or steel sanitary ware production dropped slightly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.1% 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 +1.3% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 58%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Exports of Sanitary Ware And Parts Of Iron Or Steel

Exports from Bangladesh

Iron or steel sanitary ware exports from Bangladesh skyrocketed to X tons in 2021, jumping by 832% compared with 2020 figures. Over the period under review, exports posted significant growth. As a result, the exports attained 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 continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 1,451% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons), Canada (X tons) and Nicaragua (X kg) were the main destinations of iron or steel sanitary ware exports from Bangladesh, together accounting for 98% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +292.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron or steel sanitary ware exported from Bangladesh were the United States ($X), Canada ($X) and Nicaragua ($X), with a combined 98% share of total exports.

Among the main countries of destination, Canada, with a CAGR of +323.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for sanitary ware and parts of iron or steel stood at $X per ton in 2021, picking up by 15% against the previous year. Over the period under review, the export price showed resilient growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 77% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Canada ($X per ton), while the average price for exports to Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+7.7%).

Imports of Sanitary Ware And Parts Of Iron Or Steel

Imports into Bangladesh

In 2021, approx. X tons of sanitary ware and parts of iron or steel were imported into Bangladesh; surging by 3.4% against the year before. Overall, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 2,063%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, iron or steel sanitary ware imports soared to $X in 2021. In general, imports showed a significant increase. The pace of growth appeared the most rapid in 2014 when imports increased by 2,899%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main supplier of iron or steel sanitary ware to Bangladesh, with a 93% share of total imports. It was followed by India (X tons), with a 2.1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +24.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+37.0% per year) and Italy (+22.1% per year).

In value terms, China ($X) constituted the largest supplier of sanitary ware and parts of iron or steel to Bangladesh, comprising 90% of total imports. The second position in the ranking was held by Italy ($X), with a 1.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +40.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+30.9% per year) and India (+50.6% per year).

Import Prices by Country

In 2021, the average import price for sanitary ware and parts of iron or steel amounted to $X per ton, jumping by 23% against the previous year. Over the period under review, the import price recorded a resilient expansion. The growth pace was the most rapid in 2013 when the average import price increased by 56% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for India ($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 (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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