Portugal: Stainless Steel Sink Market 2024

Stainless Steel Sink Market Size in Portugal

After five years of growth, the Portuguese stainless steel sink market decreased by -2.6% to $X in 2021. Overall, consumption continues to indicate a relatively flat trend pattern. Stainless steel sink consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Stainless Steel Sink Production in Portugal

In value terms, stainless steel sink production stood at $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 41% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Stainless Steel Sink Exports

Exports from Portugal

In 2021, shipments abroad of stainless steel sinks and wash basins increased by 9.2% to X units for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 14%. As a result, the exports attained the peak of X units. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, stainless steel sink exports expanded rapidly to $X in 2021. The total export value increased at an average annual rate of +3.8% over the period 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 when exports increased by 19%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

France (X units), Spain (X units) and Germany (X units) were the main destinations of stainless steel sink exports from Portugal, together accounting for 59% of total exports. Algeria, Italy, the UK, Belgium, Cyprus, Cabo Verde, Hong Kong SAR, Angola, Finland and Morocco lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2021, the biggest increases were in Cyprus (with a CAGR of +57.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for stainless steel sink exported from Portugal were France ($X), Spain ($X) and Germany ($X), together accounting for 63% of total exports. These countries were followed by the UK, Algeria, Italy, Belgium, Hong Kong SAR, Cabo Verde, Finland, Cyprus, Angola and Morocco, which together accounted for a further 20%.

Among the main countries of destination, Cyprus, with a CAGR of +39.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average stainless steel sink export price amounted to $X per unit, surging by 3.2% against the previous year. Over the last nine years, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2018 an increase of 11% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Cyprus ($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 France (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Stainless Steel Sink Imports

Imports into Portugal

In 2021, the amount of stainless steel sinks and wash basins imported into Portugal reached X units, growing by 3.8% against the year before. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 18%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, stainless steel sink imports rose significantly to $X in 2021. In general, total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% 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 +110.3% against 2015 indices. The most prominent rate of growth was recorded in 2017 with an increase of 31%. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, Spain (X units) constituted the largest stainless steel sink supplier to Portugal, accounting for a 55% share of total imports. Moreover, stainless steel sink imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. The third position in this ranking was taken by China (X units), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.1% per year) and China (-0.8% per year).

In value terms, Spain ($X) constituted the largest supplier of stainless steel sink to Portugal, comprising 58% of total imports. The second position in the ranking was held by Italy ($X), with a 19% share of total imports. It was followed by China, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value from Spain amounted to +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+1.9% per year) and China (-0.8% per year).

Import Prices by Country

In 2021, the average stainless steel sink import price amounted to $X per unit, surging by 6.1% against the previous year. Over the last nine years, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2018 an increase of 16%. The import price peaked in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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