Metal Bath Market

The article provides a detailed analysis of the global metal bath market, focusing on factors such as consumption, production, imports, and exports. It predicts a slight increase in market performance with a +0.7% CAGR in consumption and a +2.7% CAGR in market value from 2022 to 2030. China, the United States, and India are highlighted as the top consumers of metal baths, while Germany, the United States, and the UK have the highest per capita consumption rates. The article also discusses the decline in production and the fluctuation in import and export volumes and prices. Germany and China emerge as the top exporters of metal baths in 2022. Overall, the article presents a comprehensive overview of the global metal bath market and its anticipated trends in the coming years.

Market Forecast

Driven by rising demand for metal bath worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.7% for the period from 2022 to 2030, which is projected to bring the market volume to 21M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.7% for the period from 2022 to 2030, which is projected to bring the market value to $2.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Baths Of Iron Or Steel

Global metal bath consumption was estimated at 19M units in 2022, approximately reflecting the previous year. In general, consumption, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2019 with an increase of 6.6%. Global consumption peaked at 35M units in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

The global metal bath market revenue rose modestly to $1.9B in 2022, growing by 2.7% 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, however, continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2019 with an increase of 9.6% against the previous year. Over the period under review, the global market hit record highs at $3.4B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (5.1M units), the United States (3M units) and India (2M units), with a combined 52% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by China (with a CAGR of -2.0%), while consumption for the other global leaders experienced a decline in the consumption figures.

In value terms, the largest metal bath markets worldwide were China ($320M), the United States ($252M) and Brazil ($167M), together comprising 39% of the global market.

China, with a CAGR of +0.0%, saw the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced a decline in the market figures.

The countries with the highest levels of metal bath per capita consumption in 2022 were Germany (10 units per 1000 persons), the United States (8.9 units per 1000 persons) and the UK (8.2 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of -2.1%), while consumption for the other global leaders experienced a decline in the per capita consumption figures.

Production

World Production of Baths Of Iron Or Steel

For the third year in a row, the global market recorded decline in production of baths of iron or steel, which decreased by -0.9% to 18M units in 2022. Overall, production recorded a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 5%. Over the period under review, global production attained the maximum volume at 35M units in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In value terms, metal bath production rose to $1.7B in 2022 estimated in export price. Over the period under review, production showed a abrupt descent. The growth pace was the most rapid in 2016 with an increase of 11% against the previous year. Global production peaked at $3.2B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Production By Country

The country with the largest volume of metal bath production was China (5.5M units), accounting for 31% of total volume. Moreover, metal bath production in China exceeded the figures recorded by the second-largest producer, India (1.9M units), threefold. The third position in this ranking was taken by the United States (1.9M units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at -3.6%. The remaining producing countries recorded the following average annual rates of production growth: India (-3.2% per year) and the United States (-8.6% per year).

Imports

World Imports of Baths Of Iron Or Steel

In 2022, the amount of baths of iron or steel imported worldwide fell slightly to 4.1M units, with a decrease of -3.1% compared with the previous year's figure. Over the period under review, imports showed a noticeable curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 25%. Over the period under review, global imports hit record highs at 5.7M units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, metal bath imports shrank to $260M in 2022. In general, imports recorded a pronounced descent. The most prominent rate of growth was recorded in 2021 when imports increased by 19% against the previous year. Global imports peaked at $370M in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, the United States (1.2M units) was the major importer of baths of iron or steel, committing 29% of total imports. It was distantly followed by Qatar (269K units), the UK (261K units), the United Arab Emirates (205K units) and Russia (203K units), together creating a 23% share of total imports. France (144K units), Switzerland (116K units), Chile (115K units), Canada (108K units), India (105K units), Tajikistan (89K units), Germany (76K units) and Cambodia (64K units) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +14.7% from 2012 to 2022. At the same time, Cambodia (+67.1%), Tajikistan (+19.8%), the United Arab Emirates (+18.9%), India (+11.6%) and Qatar (+6.5%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in the world, with a CAGR of +67.1% from 2012-2022. By contrast, Germany (-2.2%), Switzerland (-2.9%), France (-3.9%), Canada (-4.1%), the UK (-4.3%), Chile (-9.0%) and Russia (-18.8%) illustrated a downward trend over the same period. While the share of the United States (+24 p.p.), the United Arab Emirates (+4.4 p.p.), Qatar (+4.1 p.p.), India (+2 p.p.), Tajikistan (+1.9 p.p.) and Cambodia (+1.6 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Chile (-2.3 p.p.) and Russia (-23.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($34M), the UK ($23M) and India ($19M) constituted the countries with the highest levels of imports in 2022, together accounting for 29% of global imports. Russia, France, the United Arab Emirates, Switzerland, Canada, Chile, Germany, Cambodia, Qatar and Tajikistan lagged somewhat behind, together accounting for a further 31%.

Cambodia, with a CAGR of +48.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

In 2022, iron (other than cast) or steel; baths (3.5M units) was the major type of baths of iron or steel, committing 86% of total imports. It was distantly followed by cast iron, baths, whether or not enamelled (586K units), constituting a 14% share of total imports.

Iron (other than cast) or steel; baths experienced a relatively flat trend pattern with regard to volume of imports. cast iron, baths, whether or not enamelled (-11.4%) illustrated a downward trend over the same period. Iron (other than cast) or steel; baths (+20 p.p.) significantly strengthened its position in terms of the global imports, while cast iron, baths, whether or not enamelled saw its share reduced by -20.2% from 2012 to 2022, respectively.

In value terms, iron (other than cast) or steel; baths ($211M) constitutes the largest type of baths of iron or steel imported worldwide, comprising 81% of global imports. The second position in the ranking was taken by cast iron, baths, whether or not enamelled ($49M), with a 19% share of global imports.

For iron (other than cast) or steel; baths, imports shrank by an average annual rate of -1.4% over the period from 2012-2022.

Import Prices By Type

The average metal bath import price stood at $64 per unit in 2022, with a decrease of -4.9% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 32% against the previous year. As a result, import price attained the peak level of $71 per unit. From 2019 to 2022, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major imported products. In 2022, the product with the highest price was cast iron, baths, whether or not enamelled ($83 per unit), while the price for iron (other than cast) or steel; baths amounted to $61 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by cast iron, baths, whether or not enamelled (+3.2%).

Import Prices By Country

In 2022, the average metal bath import price amounted to $64 per unit, shrinking by -4.9% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 32%. As a result, import price reached the peak level of $71 per unit. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($183 per unit), while Qatar ($7.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+4.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Baths Of Iron Or Steel

Global metal bath exports contracted significantly to 2.4M units in 2022, waning by -18.8% on 2021 figures. Over the period under review, exports recorded a abrupt contraction. The growth pace was the most rapid in 2021 with an increase of 7.9%. Over the period under review, the global exports hit record highs at 5.7M units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, metal bath exports reduced to $203M in 2022. Overall, exports showed a deep contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 17%. Over the period under review, the global exports attained the maximum at $360M in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports By Country

Germany (621K units) and China (451K units) were the largest exporters of baths of iron or steel in 2022, recording near 26% and 19% of total exports, respectively. Portugal (293K units) ranks next in terms of the total exports with a 12% share, followed by Kazakhstan (8.2%), Spain (7.5%), the United Arab Emirates (6%) and the United States (4.9%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the United Arab Emirates (with a CAGR of +26.1%), while the other global leaders experienced mixed trends in the exports figures.

In value terms, Germany ($67M) remains the largest metal bath supplier worldwide, comprising 33% of global exports. The second position in the ranking was taken by China ($31M), with a 15% share of global exports. It was followed by Portugal, with an 11% share.

In Germany, metal bath exports shrank by an average annual rate of -3.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (-9.7% per year) and Portugal (-3.3% per year).

Exports By Type

In 2022, iron (other than cast) or steel; baths (1.9M units) was the major type of baths of iron or steel, committing 82% of total exports. It was distantly followed by cast iron, baths, whether or not enamelled (436K units), making up an 18% share of total exports.

Iron (other than cast) or steel; baths was also the fastest-growing in terms of exports, with a CAGR of -6.3% from 2012 to 2022. cast iron, baths, whether or not enamelled (-12.8%) illustrated a downward trend over the same period. Iron (other than cast) or steel; baths (+13 p.p.) significantly strengthened its position in terms of the global exports, while cast iron, baths, whether or not enamelled saw its share reduced by -13.4% from 2012 to 2022, respectively.

In value terms, iron (other than cast) or steel; baths ($162M) remains the largest type of baths of iron or steel supplied worldwide, comprising 80% of global exports. The second position in the ranking was held by cast iron, baths, whether or not enamelled ($41M), with a 20% share of global exports.

From 2012 to 2022, the average annual rate of growth in terms of the value of iron (other than cast) or steel; baths exports amounted to -3.9%.

Export Prices By Type

The average metal bath export price stood at $86 per unit in 2022, growing by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exported products. In 2022, the product with the highest price was cast iron, baths, whether or not enamelled ($94 per unit), while the average price for exports of iron (other than cast) or steel; baths stood at $84 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by cast iron, baths, whether or not enamelled (+3.5%).

Export Prices By Country

In 2022, the average metal bath export price amounted to $86 per unit, with an increase of 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($107 per unit), while Kazakhstan ($28 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+8.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform