Egypt: Stainless Steel Sink Market 2024

Stainless Steel Sink Market Size in Egypt

The Egyptian stainless steel sink market soared to $X in 2021, picking up by 31% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Stainless Steel Sink Exports

Exports from Egypt

In 2021, exports of stainless steel sinks and wash basins from Egypt rose slightly to X units, with an increase of 3.2% on 2020. The total export volume increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 4.5%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, stainless steel sink exports declined slightly to $X in 2021. Overall, exports, however, saw a perceptible downturn. The smallest decline of -2.5% was in 2016. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Romania (X units) was the main destination for stainless steel sink exports from Egypt, with a 48% share of total exports. Moreover, stainless steel sink exports to Romania exceeded the volume sent to the second major destination, Greece (X units), threefold. Kenya (X units) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume to Romania amounted to +51.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+49.6% per year) and Kenya (+38.4% per year).

In value terms, Romania ($X) emerged as the key foreign market for stainless steel sink exports from Egypt, comprising 49% of total exports. The second position in the ranking was taken by Greece ($X), with a 14% share of total exports. It was followed by Kenya, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania totaled +40.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+40.9% per year) and Kenya (+29.1% per year).

Export Prices by Country

The average stainless steel sink export price stood at $X per unit in 2021, which is down by -7.9% against the previous year. Overall, the export price recorded a deep setback. The most prominent rate of growth was recorded in 2015 a decrease of -3.2%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the UK ($X per unit), while the average price for exports to Gambia ($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 Saudi Arabia (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Stainless Steel Sink Imports

Imports into Egypt

In 2021, purchases abroad of stainless steel sinks and wash basins was finally on the rise to reach X units after three years of decline. Overall, imports, however, showed a abrupt decrease. The growth pace was the most rapid in 2015 with an increase of 30% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, stainless steel sink imports surged to $X in 2021. In general, total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.4% 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 decreased by -0.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 32% against the previous year. Imports peaked at $X in 2019; afterwards, it flattened through to 2021.

Imports by Country

In 2021, Turkey (X units) constituted the largest stainless steel sink supplier to Egypt, with a 61% share of total imports. Moreover, stainless steel sink imports from Turkey exceeded the figures recorded by the second-largest supplier, South Korea (X units), threefold. The third position in this ranking was taken by Italy (X units), with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey totaled -6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-1.3% per year) and Italy (-6.9% per year).

In value terms, Turkey ($X) constituted the largest supplier of stainless steel sink to Egypt, comprising 61% of total imports. The second position in the ranking was held by South Korea ($X), with a 19% share of total imports. It was followed by Italy, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey stood at +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+5.3% per year) and Italy (-1.4% per year).

Import Prices by Country

The average stainless steel sink import price stood at $X per unit in 2021, increasing by 1.6% against the previous year. In general, the import price continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2020 when the average import price increased by 77%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+17.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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