Russian Federation: Smoothing Iron Market 2024

Smoothing Iron Market Size in the Russian Federation

The Russian smoothing iron market skyrocketed to $X in 2021, jumping by 25% against the previous year. The market value increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Smoothing Iron Production in the Russian Federation

In value terms, smoothing iron production contracted to $X in 2021 estimated in export price. Overall, production continues to indicate a significant expansion. The pace of growth was the most pronounced in 2013 when the production volume increased by 932% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then reduced in the following year.

Smoothing Iron Exports

Exports from the Russian Federation

In 2021, shipments abroad of electric smoothing irons increased by 39% to X units, rising for the second consecutive year after seven years of decline. Overall, exports continue to indicate significant growth. The growth pace was the most rapid in 2020 when exports increased by 4,525%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, smoothing iron exports soared to $X in 2021. In general, exports recorded significant growth. The growth pace was the most rapid in 2020 when exports increased by 5,173%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Belarus (X units) was the main destination for smoothing iron exports from Russia, with a 90% share of total exports. Moreover, smoothing iron exports to Belarus exceeded the volume sent to the second major destination, Georgia (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belarus amounted to +65.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (+213.3% per year) and Armenia (+282.9% per year).

In value terms, Belarus ($X) emerged as the key foreign market for electric smoothing irons exports from Russia, comprising 91% of total exports. The second position in the ranking was taken by Georgia ($X), with a 5.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Belarus stood at +90.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (+293.6% per year) and Armenia (+272.0% per year).

Export Prices by Country

The average smoothing iron export price stood at $X per unit in 2021, picking up by 23% against the previous year. In general, the export price recorded a resilient increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Belarus ($X per unit), while the average price for exports to Armenia ($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 Georgia (+18.2%), while the prices for the other major destinations experienced more modest paces of growth.

Smoothing Iron Imports

Imports into the Russian Federation

In 2021, approx. X units of electric smoothing irons were imported into Russia; growing by 8.5% compared with the previous year's figure. Overall, imports, however, continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2020 when imports increased by 24%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, smoothing iron imports surged to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest smoothing iron supplier to Russia, accounting for a 75% share of total imports. Moreover, smoothing iron imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), sevenfold. France (X units) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-6.0% per year) and France (-10.3% per year).

In value terms, China ($X) constituted the largest supplier of electric smoothing irons to Russia, comprising 49% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 22% share of total imports. It was followed by France, with a 15% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-3.9% per year) and France (-5.2% per year).

Import Prices by Country

In 2021, the average smoothing iron import price amounted to $X per unit, increasing by 22% against the previous year. Overall, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, smoothing iron import price increased by +70.7% against 2016 indices. The most prominent rate of growth was recorded in 2019 an increase of 32% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hungary ($X per unit), while the price for Belarus ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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