Greece: Smoothing Iron Market 2024

Smoothing Iron Market Size in Greece

The Greek smoothing iron market surged to $X in 2021, growing by 18% 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). The market value increased at an average annual rate of +3.2% 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 at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Smoothing Iron Exports

Exports from Greece

In 2021, the amount of electric smoothing irons exported from Greece surged to X units, growing by 42% against the previous year's figure. Overall, exports saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, smoothing iron exports soared to $X in 2021. Over the period under review, total exports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +2.5% 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 decreased by -7.0% against 2018 indices. The pace of growth was the most pronounced in 2014 when exports increased by 35% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Cyprus (X units) was the main destination for smoothing iron exports from Greece, with a 58% share of total exports. Moreover, smoothing iron exports to Cyprus exceeded the volume sent to the second major destination, Bulgaria (X units), threefold. Italy (X units) ranked third in terms of total exports with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cyprus totaled +9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+14.7% per year) and Italy (-14.2% per year).

In value terms, Cyprus ($X) remains the key foreign market for electric smoothing irons exports from Greece, comprising 88% of total exports. The second position in the ranking was taken by Bulgaria ($X), with a 4.6% share of total exports. It was followed by Albania, with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cyprus totaled +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+19.7% per year) and Albania (+70.1% per year).

Export Prices by Country

In 2021, the average smoothing iron export price amounted to $X per unit, with a decrease of -12.6% against the previous year. In general, the export price, however, showed modest growth. The pace of growth appeared the most rapid in 2014 an increase of 72%. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Cyprus ($X per unit), while the average price for exports to Italy ($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 Bulgaria (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Smoothing Iron Imports

Imports into Greece

In 2021, imports of electric smoothing irons into Greece rose rapidly to X units, with an increase of 13% on the year before. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when imports increased by 24% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, smoothing iron imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 33%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest smoothing iron supplier to Greece, accounting for a 50% share of total imports. Moreover, smoothing iron imports from China exceeded the figures recorded by the second-largest supplier, Hungary (X units), twofold. France (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+59.8% per year) and France (+8.2% per year).

In value terms, Hungary ($X), China ($X) and France ($X) constituted the largest smoothing iron suppliers to Greece, with a combined 86% share of total imports.

Hungary, with a CAGR of +70.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average smoothing iron import price amounted to $X per unit, surging by 7.7% against the previous year. Over the last nine years, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 27% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per unit), while the price for Austria ($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 (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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