Europe: Stainless Steel Sink Market 2024

Stainless Steel Sink Market Size in Europe

The Europe stainless steel sink market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption, however, recorded a perceptible setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Stainless Steel Sink Production in Europe

In value terms, stainless steel sink production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a pronounced decrease. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Stainless Steel Sink Exports

Exports in Europe

After four years of decline, shipments abroad of stainless steel sinks and wash basins increased by 13% to X units in 2021. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. 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 soared to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Germany (X units), Greece (X units) and Italy (X units), together reaching 51% of total export. Spain (X units) ranks next in terms of the total exports with a 7.3% share, followed by Poland (6.3%) and the Netherlands (5.1%). Portugal (X units), Switzerland (X units), Slovenia (X units), Sweden (X units), France (X units) and Belgium (X units) took a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by France (with a CAGR of +7.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest stainless steel sink supplying countries in Europe were Germany ($X), Italy ($X) and Greece ($X), together accounting for 49% of total exports. These countries were followed by Switzerland, the Netherlands, Spain, Poland, Portugal, Sweden, Belgium, France and Slovenia, which together accounted for a further 40%.

In terms of the main exporting countries, France, with a CAGR of +9.1%, saw the highest rates of growth with regard to 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

In 2021, the export price in Europe amounted to $X per unit, increasing by 2.1% against the previous year. Over the period under review, the export price, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2018 when the export price increased by 6.7%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Switzerland ($X per unit), while Greece ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+2.6%), while the other leaders experienced more modest paces of growth.

Stainless Steel Sink Imports

Imports in Europe

Stainless steel sink imports skyrocketed to X units in 2021, picking up by 23% compared with the previous year's figure. The total import volume increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, stainless steel sink imports soared to $X in 2021. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia (X units), the UK (X units), France (X units) and Germany (X units) represented roughly 43% of total imports in 2021. The Netherlands (X units) held the next position in the ranking, followed by Belgium (X units). All these countries together took approx. 10% share of total imports. Spain (X units), Poland (X units), Italy (X units), Sweden (X units), Austria (X units), Denmark (X units) and Ukraine (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Netherlands (with a CAGR of +16.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest stainless steel sink importing markets in Europe were the UK ($X), Germany ($X) and France ($X), with a combined 39% share of total imports. These countries were followed by the Netherlands, Russia, Spain, Sweden, Poland, Belgium, Denmark, Austria, Italy and Ukraine, which together accounted for a further 37%.

In terms of the main importing countries, the Netherlands, with a CAGR of +11.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Europe amounted to $X per unit, growing by 3.2% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 5.7% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Germany ($X per unit), while Ukraine ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform