India: Iron Household Articles Market 2024

Iron Household Articles Market Size in India

After nine years of growth, the Indian iron household articles market decreased by -8.5% to $X in 2021. Overall, consumption, however, enjoyed a strong expansion. Iron household articles consumption peaked at $X in 2020, and then reduced in the following year.

Iron Household Articles Production in India

In value terms, iron household articles production dropped to $X in 2021 estimated in export price. Overall, production recorded resilient growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 38% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then shrank in the following year.

Iron Household Articles Exports

Exports from India

In 2021, shipments abroad of table, kitchen or household articles and parts of iron increased by 65% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, saw a abrupt contraction. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, iron household articles exports surged to $X in 2021. Overall, exports, however, saw a deep slump. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for iron household articles exports from India, accounting for a 39% share of total exports. Moreover, iron household articles exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), twofold. The third position in this ranking was held by Senegal (X tons), with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to -5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+6.6% per year) and Senegal (+24.3% per year).

In value terms, the United States ($X) remains the key foreign market for table, kitchen or household articles and parts of iron exports from India, comprising 43% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 12% share of total exports. It was followed by the UK, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+6.5% per year) and the UK (-4.2% per year).

Export Prices by Country

The average iron household articles export price stood at $X per ton in 2021, falling by -25.1% against the previous year. In general, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the average export price increased by 29% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Benin ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Household Articles Imports

Imports into India

Iron household articles imports into India skyrocketed to X tons in 2021, rising by 50% compared with 2020 figures. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 56% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, iron household articles imports rose sharply to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 69% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of iron household articles to India, with a 79% share of total imports. Moreover, iron household articles imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+8.8% per year) and Italy (-13.4% per year).

In value terms, China ($X) constituted the largest supplier of table, kitchen or household articles and parts of iron to India, comprising 79% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+11.0% per year) and Italy (-18.4% per year).

Import Prices by Country

In 2021, the average iron household articles import price amounted to $X per ton, dropping by -28.3% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 34% against the previous year. The import price peaked at $X per ton in 2020, and then declined remarkably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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