India: Stainless Steel Sink Market 2025

Stainless Steel Sink Market Size in India

In 2021, the Indian stainless steel sink market decreased by -1.6% to $X for the first time since 2011, thus ending a nine-year rising trend. Over the period under review, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +69.0% against 2012 indices. Stainless steel sink consumption peaked at $X in 2020, and then fell modestly in the following year.

Stainless Steel Sink Production in India

In value terms, stainless steel sink production contracted to $X in 2021 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +67.0% against 2012 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 17% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then shrank in the following year.

Stainless Steel Sink Exports

Exports from India

In 2021, overseas shipments of stainless steel sinks and wash basins increased by 85% to X units, rising for the second consecutive year after four years of decline. Overall, exports recorded a measured increase. 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 surged to $X in 2021. Over the period under review, exports posted a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 58% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Nepal (X units), the United States (X units) and Sri Lanka (X units) were the main destinations of stainless steel sink exports from India, together comprising 59% of total exports. The United Arab Emirates, Germany, Bhutan, China, Saudi Arabia, the UK and South Africa lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +157.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for stainless steel sink exported from India were the United States ($X), the United Arab Emirates ($X) and Germany ($X), with a combined 51% share of total exports. These countries were followed by Nepal, Sri Lanka, China, the UK, Bhutan, Saudi Arabia and South Africa, which together accounted for a further 39%.

China, with a CAGR of +156.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average stainless steel sink export price stood at $X per unit in 2021, waning by -21.2% against the previous year. Over the period under review, the export price, however, continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2017 an increase of 61% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a 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 ($X per unit), while the average price for exports to Nepal ($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 (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Stainless Steel Sink Imports

Imports into India

Stainless steel sink imports into India surged to X units in 2021, growing by 175% compared with the previous year. In general, imports continue to indicate strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, stainless steel sink imports surged to $X in 2021. Overall, imports saw prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 88% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, China (X units) constituted the largest supplier of stainless steel sink to India, accounting for a 84% share of total imports. Moreover, stainless steel sink imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), more than tenfold. Hong Kong SAR (X units) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +21.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+24.9% per year) and Hong Kong SAR (+79.3% per year).

In value terms, China ($X) constituted the largest supplier of stainless steel sink to India, comprising 85% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6.3% share of total imports. It was followed by Hong Kong SAR, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+10.4% per year) and Hong Kong SAR (+64.5% per year).

Import Prices by Country

In 2021, the average stainless steel sink import price amounted to $X per unit, declining by -42.3% against the previous year. In general, the import price continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 when the average import price increased by 27%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from China ($X per unit) and the Netherlands ($X per unit), while the price for the United Arab Emirates ($X per unit) and Hong Kong SAR ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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