South-Eastern Asia: Stainless Steel Sink Market 2025

Stainless Steel Sink Market Size in South-Eastern Asia

In 2021, the Southeast Asian stainless steel sink market decreased by -24.2% to $X, falling for the second year in a row after three years of growth. In general, consumption, however, enjoyed a moderate increase. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Stainless Steel Sink Production in South-Eastern Asia

In value terms, stainless steel sink production reduced slightly to $X in 2021 estimated in export price. In general, production continues to indicate a noticeable decrease. The growth pace was the most rapid in 2013 with an increase of 62% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Stainless Steel Sink Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of stainless steel sinks and wash basins increased by 52% to X units, rising for the second year in a row after two years of decline. In general, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 197%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, stainless steel sink exports soared to $X in 2021. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 146% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in years to come.

Exports by Country

In 2021, Vietnam (X units) represented the major exporter of stainless steel sinks and wash basins, mixing up 54% of total exports. Malaysia (X units) ranks second in terms of the total exports with a 26% share, followed by Thailand (19%).

Vietnam was also the fastest-growing in terms of the stainless steel sinks and wash basins exports, with a CAGR of +84.3% from 2012 to 2021. At the same time, Malaysia (+24.8%) and Thailand (+10.3%) displayed positive paces of growth. While the share of Vietnam (+52 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-40.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest stainless steel sink supplier in South-Eastern Asia, comprising 57% of total exports. The second position in the ranking was held by Malaysia ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Vietnam amounted to +82.0%. In the other countries, the average annual rates were as follows: Malaysia (+30.6% per year) and Thailand (+14.5% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per unit, with a decrease of -18.1% against the previous year. Overall, the export price, however, recorded tangible growth. The growth pace was the most rapid in 2019 when the export price increased by 52% against the previous year. The level of export peaked at $X per unit in 2020, and then dropped sharply in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Vietnam ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+4.6%), while the other leaders experienced mixed trends in the export price figures.

Stainless Steel Sink Imports

Imports in South-Eastern Asia

In 2021, imports of stainless steel sinks and wash basins in South-Eastern Asia reached X units, increasing by 4.5% compared with 2020 figures. Over the period under review, imports recorded a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of 36% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, stainless steel sink imports rose markedly to $X in 2021. Overall, imports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2017 with an increase of 73% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

The purchases of the three major importers of stainless steel sinks and wash basins, namely Malaysia, Vietnam and Indonesia, represented more than two-thirds of total import. It was distantly followed by Thailand (X units), achieving a 10% share of total imports. The following importers - the Philippines (X units), Cambodia (X units) and Myanmar (X units) - together made up 7.6% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +31.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constitutes the largest market for imported stainless steel sinks and wash basins in South-Eastern Asia, comprising 40% of total imports. The second position in the ranking was held by Malaysia ($X), with a 19% share of total imports. It was followed by Thailand, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Vietnam stood at +30.8%. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+19.4% per year) and Thailand (+10.6% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2021, growing by 6.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2017 an increase of 28% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the Philippines ($X per unit), while Malaysia ($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 Philippines (+11.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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