Republic of Korea - Stainless Steel Sinks And Wash Basins - Market Analysis, Forecast, Size, Trends And Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingStainless Steel Sink Price in South Korea - 2022
Contents:
- Stainless Steel Sink Price in South Korea (CIF) - 2022
- Stainless Steel Sink Price in South Korea (FOB) - 2022
- Stainless Steel Sink Imports in South Korea
- Stainless Steel Sink Exports in South Korea
Stainless Steel Sink Price in South Korea (CIF) - 2022
The average stainless steel sink import price stood at $84.5 per unit in December 2022, with an increase of 17% against the previous month. Over the period from December 2021 to December 2022, it increased at an average monthly rate of +1.3%. The import price peaked at $86.2 per unit in May 2022; however, from June 2022 to December 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Italy ($247 per unit), while the price for Vietnam ($39.3 per unit) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Stainless Steel Sink Price in South Korea (FOB) - 2022
The average stainless steel sink export price stood at $65.8 per unit in December 2022, declining by -14.2% against the previous month. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in July 2022 an increase of 43% month-to-month. The export price peaked at $79.5 per unit in August 2022; however, from September 2022 to December 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In December 2022, the country with the highest price was Taiwan (Chinese) ($129 per unit), while the average price for exports to Egypt ($25.4 per unit) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+4.3%), while the prices for the other major destinations experienced a decline.
Stainless Steel Sink Imports in South Korea
In 2022, after three years of growth, there was significant decline in supplies from abroad of stainless steel sinks and wash basins, when their volume decreased by -27.1% to 188K units. Overall, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 119%. As a result, imports attained the peak of 258K units, and then reduced rapidly in the following year.
In value terms, stainless steel sink imports contracted rapidly to $13M in 2022. Over the period under review, imports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 134% against the previous year. As a result, imports reached the peak of $19M, and then fell dramatically in the following year.
Import of Stainless Steel Sink in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 3.8 | 3.9 | 14.3 | 10.2 | 39.0% |
Italy | 0.6 | 0.2 | 0.9 | 1.3 | 29.4% |
United States | N/A | N/A | 0.1 | 0.2 | 100.0% |
Japan | 0.8 | 0.3 | 0.5 | 0.1 | -50.0% |
Vietnam | 0.4 | 3.0 | 0.6 | N/A | 22.5% |
Others | 1.0 | 0.5 | 2.4 | 1.5 | 14.5% |
Total | 6.7 | 8.0 | 18.7 | 13.3 | 25.7% |
Top Suppliers of Stainless Steel Sink to South Korea in 2022:
- China (161.5K units)
- Italy (10.3K units)
- United States (3.0K units)
- Japan (1.2K units)
Stainless Steel Sink Exports in South Korea
In 2022, approx. 198K units of stainless steel sinks and wash basins were exported from South Korea; growing by 2.6% compared with 2021. The total export volume increased at an average annual rate of +6.8% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when exports increased by 25%. As a result, the exports attained the peak of 204K units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, stainless steel sink exports fell modestly to $11M in 2022. The total export value increased at an average annual rate of +7.0% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 20% against the previous year. The exports peaked at $11M in 2021, and then contracted modestly in the following year.
Export of Stainless Steel Sink in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Myanmar | N/A | N/A | N/A | 10.8 | 0% |
China | 1.1 | 1.0 | 1.1 | N/A | 0.0% |
United States | 2.3 | 3.3 | 4.0 | N/A | 31.9% |
Indonesia | 0.5 | 0.2 | 0.5 | N/A | 0.0% |
Egypt | 1.4 | 2.3 | 1.8 | N/A | 13.4% |
Taiwan (Chinese) | 0.8 | 0.8 | 1.3 | N/A | 27.5% |
Saudi Arabia | 1.4 | 1.8 | 1.1 | N/A | -11.4% |
Others | 1.3 | 1.3 | 1.3 | N/A | 0.0% |
Total | 8.8 | 10.6 | 11.0 | 10.8 | 7.1% |
Top Export Markets for Stainless Steel Sink from South Korea in 2022:
- Myanmar (198.2K units)
This report provides an in-depth analysis of the stainless steel sink market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25991110 - Stainless steel sinks and wash basins
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
-
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
-
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
-
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the stainless steel sink market in Republic of Korea.
This report provides an in-depth analysis of the metal bath market in Republic of Korea.
This report provides an in-depth analysis of the market for iron or steel sanitary ware in Republic of Korea.
This report provides an in-depth analysis of the global stainless steel sink market.
This report provides an in-depth analysis of the global metal bath market.
This report provides an in-depth analysis of the global market for iron or steel sanitary ware.
This report provides an in-depth analysis of the stainless steel sink market in Republic of Korea.
This report provides an in-depth analysis of the metal bath market in Republic of Korea.
This report provides an in-depth analysis of the market for iron or steel sanitary ware in Republic of Korea.
This report provides an in-depth analysis of the global stainless steel sink market.
Nothing found. Please try again.