Latin America and the Caribbean: Stainless Steel Sink Market 2025

Stainless Steel Sink Market Size in Latin America and the Caribbean

The Latin American stainless steel sink market was estimated at $X in 2021, picking up by 4.1% against the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed 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.

Stainless Steel Sink Production in Latin America and the Caribbean

In value terms, stainless steel sink production rose to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by 13%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Stainless Steel Sink Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of stainless steel sinks and wash basins increased by 56% to X units, rising for the second consecutive year after three years of decline. Total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +75.9% against 2019 indices. 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 surged to $X in 2021. Total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +9.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +52.8% against 2019 indices. The pace of growth was the most pronounced in 2013 when exports increased by 41% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

Exports by Country

Mexico was the key exporting country with an export of about X units, which accounted for 78% of total exports. It was distantly followed by Brazil (X units), committing a 21% share of total exports.

Mexico was also the fastest-growing in terms of the stainless steel sinks and wash basins exports, with a CAGR of +10.4% from 2012 to 2021. At the same time, Brazil (+4.4%) displayed positive paces of growth. Mexico (+12 p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by -8.2% from 2012 to 2021, respectively.

In value terms, Mexico ($X) remains the largest stainless steel sink supplier in Latin America and the Caribbean, comprising 82% of total exports. The second position in the ranking was held by Brazil ($X), with a 16% share of total exports.

In Mexico, stainless steel sink exports expanded at an average annual rate of +11.8% over the period from 2012-2021.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, shrinking by -11.4% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 12%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Mexico ($X per unit), while Brazil stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+1.3%).

Stainless Steel Sink Imports

Imports in Latin America and the Caribbean

Stainless steel sink imports soared to X units in 2021, picking up by 54% compared with the previous year's figure. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +61.9% against 2019 indices. 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. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +62.5% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Chile (X units), distantly followed by Mexico (X units), Peru (X units), Colombia (X units), Ecuador (X units), Brazil (X units) and the Dominican Republic (X units) were the largest importers of stainless steel sinks and wash basins, together committing 70% of total imports. Costa Rica (X units), Argentina (X units), Paraguay (X units), Guatemala (X units), Panama (X units) and Honduras (X units) held a minor share of total imports.

Imports into Chile increased at an average annual rate of +10.7% from 2012 to 2021. At the same time, Brazil (+25.5%), Peru (+17.2%), the Dominican Republic (+15.3%), Honduras (+12.8%), Panama (+12.1%), Colombia (+10.8%), Guatemala (+10.8%), Paraguay (+9.1%), Costa Rica (+7.8%), Ecuador (+5.9%) and Argentina (+1.7%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +25.5% from 2012-2021. By contrast, Mexico (-2.0%) illustrated a downward trend over the same period. Chile (+8.2 p.p.), Peru (+5.7 p.p.), Brazil (+4.9 p.p.), the Dominican Republic (+3 p.p.) and Colombia (+2.4 p.p.) significantly strengthened its position in terms of the total imports, while Mexico saw its share reduced by -10.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X), Mexico ($X) and Peru ($X) were the countries with the highest levels of imports in 2021, with a combined 42% share of total imports. These countries were followed by Brazil, Ecuador, Colombia, the Dominican Republic, Costa Rica, Paraguay, Guatemala, Argentina, Panama and Honduras, which together accounted for a further 42%.

Among the main importing countries, Brazil, with a CAGR of +20.1%, saw the highest rates of growth with regard to 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

The import price in Latin America and the Caribbean stood at $X per unit in 2021, flattening at the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by 3.2% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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