United Arab Emirates: Iron Household Articles Market 2024

Iron Household Articles Market Size in the United Arab Emirates

The iron household articles market in the United Arab Emirates skyrocketed to $X in 2021, increasing by 68% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption posted a slight expansion. Iron household articles consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Iron Household Articles Exports

Exports from the United Arab Emirates

In 2021, approx. X tons of table, kitchen or household articles and parts of iron were exported from the United Arab Emirates; with a decrease of -18.4% compared with the year before. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 40%. As a result, the exports attained the peak of X tons, and then declined markedly in the following year.

In value terms, iron household articles exports shrank to $X in 2021. In general, total exports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +30.6% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 47% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria (X tons) was the main destination for iron household articles exports from the United Arab Emirates, accounting for a 59% share of total exports. Moreover, iron household articles exports to Nigeria exceeded the volume sent to the second major destination, Oman (X tons), fourfold. The third position in this ranking was taken by Burkina Faso (X tons), with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Nigeria amounted to +50.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (-5.6% per year) and Burkina Faso (-10.6% per year).

In value terms, the largest markets for iron household articles exported from the United Arab Emirates were Oman ($X), Nigeria ($X) and the UK ($X), together comprising 68% of total exports.

Nigeria, with a CAGR of +51.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 iron household articles export price amounted to $X per ton, increasing by 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2014 when the average export price increased by 27%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Zambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Seychelles (+19.7%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Household Articles Imports

Imports into the United Arab Emirates

In 2021, iron household articles imports into the United Arab Emirates surged to X tons, picking up by 27% compared with the previous year. In general, imports, however, saw a slight slump. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, iron household articles imports surged to $X in 2021. Overall, total imports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +55.6% against 2016 indices. 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 tons) constituted the largest supplier of iron household articles to the United Arab Emirates, accounting for a 81% share of total imports. Moreover, iron household articles imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold. The third position in this ranking was held by India (X tons), with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+15.9% per year) and India (-7.5% per year).

In value terms, China ($X) constituted the largest supplier of table, kitchen or household articles and parts of iron to the United Arab Emirates, comprising 84% of total imports. The second position in the ranking was held by India ($X), with a 3.6% share of total imports. It was followed by Turkey, with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-8.3% per year) and Turkey (+13.9% per year).

Import Prices by Country

The average iron household articles import price stood at $X per ton in 2021, picking up by 8.7% against the previous year. Over the last nine years, it increased at an average annual rate of +3.7%. The pace of growth was the most pronounced in 2013 when the average import price increased by 16%. The import price peaked in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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