Iron Household Articles Market

The global market for table, kitchen, and household articles and parts of iron is projected to show positive growth in both consumption and production over the next eight years. Key trends in importing and exporting countries are also highlighted, with China leading in both exports and production of iron household articles.

Market Forecast

Driven by increasing demand for table, kitchen or household articles and parts of iron worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.7% for the period from 2022 to 2030, which is projected to bring the market volume to 2.9M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.5% for the period from 2022 to 2030, which is projected to bring the market value to $15.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Table, Kitchen Or Household Articles And Parts Of Iron

After ten years of growth, consumption of table, kitchen or household articles and parts of iron decreased by -1% to 2.3M tons in 2022. In general, the total consumption indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +59.5% against 2012 indices. Over the period under review, global consumption reached the peak volume at 2.4M tons in 2021, and then dropped modestly in the following year.

The global iron household articles market value dropped modestly to $11.1B in 2022, flattening at 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, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +76.7% against 2012 indices. Global consumption peaked at $11.2B in 2021, and then contracted slightly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (537K tons), the United States (426K tons) and India (181K tons), together comprising 49% of global consumption.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +8.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($2.9B), Japan ($1.8B) and the United States ($1.3B) were the countries with the highest levels of market value in 2022, together comprising 54% of the global market.

Among the main consuming countries, China, with a CAGR of +10.4%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of iron household articles per capita consumption in 2022 were the United States (1,272 kg per 1000 persons), Japan (892 kg per 1000 persons) and South Korea (864 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by China (with a CAGR of +8.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Table, Kitchen Or Household Articles And Parts Of Iron

In 2022, production of table, kitchen or household articles and parts of iron decreased by -4.1% to 2.1M tons for the first time since 2015, thus ending a six-year rising trend. The total output volume increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 14% against the previous year. Global production peaked at 2.2M tons in 2021, and then contracted slightly in the following year.

In value terms, iron household articles production declined to $11B in 2022 estimated in export price. In general, the total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +50.6% against 2015 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 17% against the previous year. Over the period under review, global production hit record highs at $11.6B in 2021, and then reduced in the following year.

Production By Country

China (1.1M tons) remains the largest iron household articles producing country worldwide, comprising approx. 52% of total volume. Moreover, iron household articles production in China exceeded the figures recorded by the second-largest producer, India (193K tons), sixfold. Pakistan (88K tons) ranked third in terms of total production with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +2.6%. In the other countries, the average annual rates were as follows: India (+3.6% per year) and Pakistan (+2.7% per year).

Imports

World Imports of Table, Kitchen Or Household Articles And Parts Of Iron

In 2022, supplies from abroad of table, kitchen or household articles and parts of iron decreased by -3.5% to 1.1M tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 15% against the previous year. As a result, imports reached the peak of 1.2M tons, and then shrank in the following year.

In value terms, iron household articles imports dropped modestly to $4.4B in 2022. The total import value increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 24% against the previous year. As a result, imports reached the peak of $4.5B, and then declined in the following year.

Imports By Country

The United States represented the major importer of table, kitchen or household articles and parts of iron in the world, with the volume of imports resulting at 436K tons, which was approx. 38% of total imports in 2022. It was distantly followed by Germany (58K tons), achieving a 5% share of total imports. Japan (45K tons), the UK (43K tons), the Netherlands (35K tons), France (33K tons), Nigeria (28K tons), Spain (25K tons), Canada (21K tons), Australia (21K tons), South Korea (19K tons), Poland (19K tons) and the United Arab Emirates (17K tons) took a relatively small share of total imports.

Imports into the United States increased at an average annual rate of +7.9% from 2012 to 2022. At the same time, Nigeria (+22.9%), South Korea (+12.8%), Poland (+8.0%), the Netherlands (+7.6%), Spain (+6.5%), the UK (+4.2%), Japan (+3.5%), Canada (+2.7%), Germany (+2.5%) and France (+2.5%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in the world, with a CAGR of +22.9% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Australia (-1.1%) illustrated a downward trend over the same period. While the share of the United States (+12 p.p.) and Nigeria (+2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($1.2B) constitutes the largest market for imported table, kitchen or household articles and parts of iron worldwide, comprising 28% of global imports. The second position in the ranking was taken by Germany ($315M), with a 7.1% share of global imports. It was followed by the UK, with a 4.8% share.

In the United States, iron household articles imports increased at an average annual rate of +4.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+5.5% per year) and the UK (+5.2% per year).

Import Prices By Country

In 2022, the average iron household articles import price amounted to $3,837 per ton, flattening at the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 9.5%. Global import price peaked at $4,050 per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Spain ($7,120 per ton), while Nigeria ($966 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+5.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Table, Kitchen Or Household Articles And Parts Of Iron

After two years of growth, overseas shipments of table, kitchen or household articles and parts of iron decreased by -10.7% to 890K tons in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 16%. The global exports peaked at 997K tons in 2021, and then declined in the following year.

In value terms, iron household articles exports declined to $5.2B in 2022. In general, total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +69.7% against 2016 indices. The pace of growth was the most pronounced in 2021 when exports increased by 24%. As a result, the exports reached the peak of $5.7B, and then dropped in the following year.

Exports By Country

China prevails in exports structure, reaching 549K tons, which was near 62% of total exports in 2022. It was distantly followed by Turkey (46K tons), comprising a 5.1% share of total exports. Italy (33K tons), Germany (29K tons), the Netherlands (28K tons), Taiwan (Chinese) (27K tons) and India (22K tons) took a minor share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of table, kitchen or household articles and parts of iron. At the same time, the Netherlands (+20.0%), Turkey (+7.8%) and Germany (+2.4%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +20.0% from 2012-2022. By contrast, Italy (-1.2%), Taiwan (Chinese) (-1.9%) and India (-6.0%) illustrated a downward trend over the same period. While the share of Turkey (+2.7 p.p.) and the Netherlands (+2.7 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of India (-2.1 p.p.) and China (-4.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($3.6B) remains the largest iron household articles supplier worldwide, comprising 69% of global exports. The second position in the ranking was taken by Germany ($219M), with a 4.2% share of global exports. It was followed by Turkey, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +2.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+3.0% per year) and Turkey (+7.3% per year).

Export Prices By Country

The average iron household articles export price stood at $5,836 per ton in 2022, increasing by 2.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2018 an increase of 10% against the previous year. The global export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($7,429 per ton), while India ($2,786 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform