Singapore: Stainless Steel Sink Market 2025

Stainless Steel Sink Market Size in Singapore

In 2021, the Singaporean stainless steel sink market increased by 74% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, recorded a abrupt descent. Stainless steel sink consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Stainless Steel Sink Exports

Exports from Singapore

After four years of decline, overseas shipments of stainless steel sinks and wash basins increased by 110% to X units in 2021. In general, exports, however, showed a abrupt decline. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, stainless steel sink exports skyrocketed to $X in 2021. Overall, exports, however, saw a noticeable setback. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X units), South Korea (X units) and Indonesia (X units) were the main destinations of stainless steel sink exports from Singapore, together accounting for 64% of total exports. Seychelles, Malaysia, Thailand, Papua New Guinea, China, Taiwan (Chinese), Maldives, Australia and Brunei Darussalam lagged somewhat behind, together comprising a further 33%.

From 2012 to 2021, the biggest increases were in Papua New Guinea (with a CAGR of +88.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for stainless steel sink exported from Singapore were Vietnam ($X), South Korea ($X) and Indonesia ($X), together accounting for 64% of total exports. Seychelles, Malaysia, Thailand, Papua New Guinea, China, Taiwan (Chinese), Maldives, Australia and Brunei Darussalam lagged somewhat behind, together comprising a further 33%.

Among the main countries of destination, Papua New Guinea, with a CAGR of +87.0%, 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, which is down by -6.2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.0%. The growth pace was the most rapid in 2013 an increase of 67%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2021, the highest price was recorded for prices to Australia ($X per unit) and Brunei Darussalam ($X per unit), while the average price for exports to South Korea ($X per unit) and Papua New Guinea ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Stainless Steel Sink Imports

Imports into Singapore

In 2021, supplies from abroad of stainless steel sinks and wash basins increased by 69% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, saw a deep reduction. Over the period under review, imports reached the peak figure at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, stainless steel sink imports skyrocketed to $X in 2021. In general, imports, however, saw a deep slump. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest stainless steel sink supplier to Singapore, with a 67% share of total imports. Moreover, stainless steel sink imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), more than tenfold. Vietnam (X units) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-18.9% per year) and Vietnam (+108.0% per year).

In value terms, China ($X) constituted the largest supplier of stainless steel sink to Singapore, comprising 67% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 5% share of total imports. It was followed by Vietnam, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-15.0% per year) and Vietnam (+116.2% per year).

Import Prices by Country

In 2021, the average stainless steel sink import price amounted to $X per unit, rising by 10% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.9%. The growth pace was the most rapid in 2018 when the average import price increased by 14% against the previous year. As a result, import price attained the peak level of $X per unit; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Germany ($X per unit) and South Korea ($X per unit), while the price for Italy ($X per unit) and Spain ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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