Eastern Asia: Stainless Steel Sink Market 2025

Stainless Steel Sink Market Size in Eastern Asia

The East Asian stainless steel sink market contracted notably to $X in 2021, declining by -44.6% against the previous year. Over the period under review, consumption continues to indicate a pronounced decline. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Stainless Steel Sink Production in Eastern Asia

In value terms, stainless steel sink production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when the production volume increased by 13% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then fell in the following year.

Stainless Steel Sink Exports

Exports in Eastern Asia

In 2021, stainless steel sink exports in Eastern Asia skyrocketed to X units, increasing by 28% against the year before. Total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +128.7% against 2016 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 35%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, stainless steel sink exports skyrocketed to $X in 2021. Overall, exports enjoyed buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from China (X units), together reaching 99% of total export.

China was also the fastest-growing in terms of the stainless steel sinks and wash basins exports, with a CAGR of +5.8% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest stainless steel sink supplier in Eastern Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +10.5%.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, rising by 4.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.3%. The most prominent rate of growth was recorded in 2015 an increase of 20%. The level of export peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +4.4% per year.

Stainless Steel Sink Imports

Imports in Eastern Asia

In 2021, overseas purchases of stainless steel sinks and wash basins increased by 92% to X units, rising for the second consecutive year after two years of decline. Total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +7.4% 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 increased by +102.4% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, stainless steel sink imports soared to $X in 2021. Overall, imports showed a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Hong Kong SAR (X units) and South Korea (X units) were the main importers of stainless steel sinks and wash basins in 2021, recording near 36% and 32% of total imports, respectively. It was distantly followed by Taiwan (Chinese) (X units), Japan (X units), China (X units) and Democratic People's Republic of Korea (X units), together comprising a 31% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by South Korea (with a CAGR of +11.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constitutes the largest market for imported stainless steel sinks and wash basins in Eastern Asia, comprising 45% of total imports. The second position in the ranking was taken by China ($X), with a 16% share of total imports. It was followed by Hong Kong SAR, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Korea stood at +20.9%. In the other countries, the average annual rates were as follows: China (+5.6% per year) and Hong Kong SAR (+4.6% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2021, shrinking by -12.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2019 an increase of 20% against the previous year. The level of import peaked at $X per unit in 2020, and then declined in the following year.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while Democratic People's Republic of Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+8.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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