China: Smoothing Iron Market 2024

Smoothing Iron Market Size in China

The Chinese smoothing iron market expanded notably to $X in 2021, growing by 8.8% against the previous year. Overall, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.2% 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 +10.2% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Smoothing Iron Production in China

In value terms, smoothing iron production rose sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 41%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Smoothing Iron Exports

Exports from China

In 2021, after two years of decline, there was significant growth in overseas shipments of electric smoothing irons, when their volume increased by 8.7% to X units. Over the period under review, exports saw a mild increase. The pace of growth was the most pronounced in 2018 with an increase of 333%. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, smoothing iron exports soared to $X in 2021. The total export value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for smoothing iron exports from China, with a 15% share of total exports. Moreover, smoothing iron exports to the United States exceeded the volume sent to the second major destination, Russia (X units), threefold. The United Arab Emirates (X units) ranked third in terms of total exports with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+9.5% per year) and the United Arab Emirates (+15.3% per year).

In value terms, the United States ($X) remains the key foreign market for electric smoothing irons exports from China, comprising 16% of total exports. The second position in the ranking was taken by Italy ($X), with a 7.7% share of total exports. It was followed by Russia, with a 6.5% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+5.4% per year) and Russia (+10.9% per year).

Export Prices by Country

The average smoothing iron export price stood at $X per unit in 2021, rising by 6.3% against the previous year. Overall, the export price recorded a slight expansion. The pace of growth appeared the most rapid in 2016 when the average export price increased by 109%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to South Africa ($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 Indonesia (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Smoothing Iron Imports

Imports into China

Smoothing iron imports into China plummeted to X units in 2021, falling by -22.5% against 2020 figures. Overall, imports saw a abrupt slump. The growth pace was the most rapid in 2016 when imports increased by 122%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, smoothing iron imports soared to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Indonesia (X units), Hungary (X units) and Japan (X units) were the main suppliers of smoothing iron imports to China, with a combined 74% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +22.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Hungary ($X) constituted the largest supplier of electric smoothing irons to China, comprising 57% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 21% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Hungary stood at +46.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-14.9% per year) and Japan (+0.7% per year).

Import Prices by Country

In 2021, the average smoothing iron import price amounted to $X per unit, with an increase of 161% against the previous year. Overall, the import price showed a strong expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hungary ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+19.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :