Slovakia: Stainless Steel Sink Market 2024

Stainless Steel Sink Market Size in Slovakia

For the third consecutive year, the Slovak stainless steel sink market recorded decline in sales value, which decreased by -82.9% to $X in 2021. In general, consumption saw a dramatic slump. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Stainless Steel Sink Production in Slovakia

In value terms, stainless steel sink production fell markedly to $X in 2021 estimated in export price. Overall, production recorded a abrupt contraction. The growth pace was the most rapid in 2015 when the production volume increased by 246% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Stainless Steel Sink Exports

Exports from Slovakia

Stainless steel sink exports from Slovakia soared to X units in 2021, jumping by 43% on 2020. Overall, exports saw a measured expansion. The most prominent rate of growth was recorded in 2020 with an increase of 255% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, stainless steel sink exports soared to $X in 2021. Over the period under review, exports continue to indicate perceptible growth. The pace of growth was the most pronounced in 2020 with an increase of 214%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Germany (X units) was the main destination for stainless steel sink exports from Slovakia, with a 47% share of total exports. Moreover, stainless steel sink exports to Germany exceeded the volume sent to the second major destination, the United States (X units), fourfold. Spain (X units) ranked third in terms of total exports with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+42.6% per year) and Spain (+47.4% per year).

In value terms, Germany ($X) remains the key foreign market for stainless steel sink exports from Slovakia, comprising 47% of total exports. The second position in the ranking was taken by the United States ($X), with a 13% share of total exports. It was followed by Australia, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+38.4% per year) and Australia (+17.6% per year).

Export Prices by Country

In 2021, the average stainless steel sink export price amounted to $X per unit, which is down by -11.6% against the previous year. Overall, the export price saw a mild decrease. The most prominent rate of growth was recorded in 2014 an increase of 32%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Slovenia ($X per unit), while the average price for exports to Hungary ($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 Slovenia (+6.4%), while the prices for the other major destinations experienced mixed trend patterns.

Stainless Steel Sink Imports

Imports into Slovakia

After two years of decline, overseas purchases of stainless steel sinks and wash basins increased by 6.5% to X units in 2021. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 57%. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, stainless steel sink imports rose sharply to $X in 2021. Overall, imports, however, continue to indicate a slight decrease. The growth pace was the most rapid in 2018 when imports increased by 70%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The Czech Republic (X units), Germany (X units) and Poland (X units) were the main suppliers of stainless steel sink imports to Slovakia, with a combined 89% share of total imports.

From 2012 to 2021, the biggest increases were in Poland (with a CAGR of +10.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Germany ($X) and Poland ($X) appeared to be the largest stainless steel sink suppliers to Slovakia, with a combined 87% share of total imports.

In terms of the main suppliers, Poland, with a CAGR of +28.0%, 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

In 2021, the average stainless steel sink import price amounted to $X per unit, remaining stable against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 32%. Over the period under review, average import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+16.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :