GCC: Stainless Steel Sink Market 2025

Stainless Steel Sink Market Size in GCC

For the sixth consecutive year, the GCC stainless steel sink market recorded growth in sales value, which increased by 13% to $X in 2021. The market value increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level in 2021 and is likely to continue growth in the near future.

Stainless Steel Sink Production in GCC

In value terms, stainless steel sink production declined sharply to $X in 2021 estimated in export price. In general, production, however, enjoyed a pronounced expansion. The pace of growth appeared the most rapid in 2020 with an increase of 50%. As a result, production attained the peak level of $X, and then dropped remarkably in the following year.

Stainless Steel Sink Exports

Exports in GCC

In 2021, shipments abroad of stainless steel sinks and wash basins was finally on the rise to reach X units after two years of decline. Total exports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, stainless steel sink exports skyrocketed to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 43% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, the United Arab Emirates (X units) represented the largest exporter of stainless steel sinks and wash basins, achieving 68% of total exports. It was distantly followed by Saudi Arabia (X units), making up a 31% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the stainless steel sinks and wash basins exports, with a CAGR of +11.5% from 2012 to 2021. Saudi Arabia (-6.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates increased by +38 percentage points.

In value terms, the United Arab Emirates ($X) remains the largest stainless steel sink supplier in GCC, comprising 68% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 31% share of total exports.

In the United Arab Emirates, stainless steel sink exports remained relatively stable over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per unit, dropping by -16.4% against the previous year. Overall, the export price showed a noticeable decline. The most prominent rate of growth was recorded in 2017 an increase of 60%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was the United Arab Emirates ($X per unit), while Saudi Arabia totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.9%).

Stainless Steel Sink Imports

Imports in GCC

In 2021, overseas purchases of stainless steel sinks and wash basins increased by 36% to X units for the first time since 2017, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 37% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, stainless steel sink imports surged to $X in 2021. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates represented the largest importing country with an import of around X units, which accounted for 64% of total imports. It was distantly followed by Kuwait (X units), Oman (X units) and Qatar (X units), together creating a 33% share of total imports. Bahrain (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to stainless steel sink imports into the United Arab Emirates stood at +2.3%. At the same time, Qatar (+26.0%), Kuwait (+6.7%) and Oman (+4.3%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +26.0% from 2012-2021. By contrast, Bahrain (-3.1%) illustrated a downward trend over the same period. While the share of Qatar (+6.5 p.p.) and Kuwait (+3.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Bahrain (-2.9 p.p.) and the United Arab Emirates (-7.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported stainless steel sinks and wash basins in GCC, comprising 54% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 12% share of total imports. It was followed by Qatar, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates stood at +3.9%. In the other countries, the average annual rates were as follows: Kuwait (+9.6% per year) and Qatar (+1.0% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2021, waning by -3.9% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the import price increased by 14% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Qatar ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform