Southern Asia: Iron Household Articles Market 2023

Iron Household Articles Market Size in Southern Asia

In 2021, the South Asian iron household articles market decreased by -5.4% to $X for the first time since 2013, thus ending a seven-year rising trend. The total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +86.2% against 2013 indices. Over the period under review, the market hit record highs at $X in 2020, and then reduced in the following year.

Iron Household Articles Production in Southern Asia

In value terms, iron household articles production fell to $X in 2021 estimated in export price. The total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +74.9% against 2013 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 27%. Over the period under review, production hit record highs at $X in 2020, and then declined slightly in the following year.

Iron Household Articles Exports

Exports in Southern Asia

In 2021, after two years of decline, there was significant growth in overseas shipments of table, kitchen or household articles and parts of iron, when their volume increased by 63% to X tons. Over the period under review, exports, however, recorded a drastic downturn. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, iron household articles exports surged to $X in 2021. Overall, exports, however, saw a abrupt shrinkage. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

India dominates exports structure, recording X tons, which was approx. 95% of total exports in 2021. Pakistan (X tons) followed a long way behind the leaders.

Exports from India decreased at an average annual rate of -11.8% from 2012 to 2021. At the same time, Pakistan (+8.3%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +8.3% from 2012-2021. Pakistan (+3.5 p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by -4.5% from 2012 to 2021, respectively.

In value terms, India ($X) remains the largest iron household articles supplier in Southern Asia, comprising 96% of total exports. The second position in the ranking was held by Pakistan ($X), with a 3% share of total exports.

From 2012 to 2021, the average annual growth rate of value in India amounted to -7.4%.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, declining by -23.2% against the previous year. Export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the export price increased by 25% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined significantly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while Pakistan amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.0%).

Iron Household Articles Imports

Imports in Southern Asia

In 2021, supplies from abroad of table, kitchen or household articles and parts of iron increased by 42% to X tons for the first time since 2017, thus ending a three-year declining trend. Total imports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -24.6% against 2017 indices. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, iron household articles imports rose notably to $X in 2021. In general, imports recorded a noticeable expansion. The most prominent rate of growth was recorded in 2016 with an increase of 29% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) represented the major importer of table, kitchen or household articles and parts of iron, making up 52% of total imports. Sri Lanka (X tons) ranks second in terms of the total imports with a 23% share, followed by Pakistan (11%) and Bangladesh (9.4%). Nepal (X tons) followed a long way behind the leaders.

India experienced a relatively flat trend pattern with regard to volume of imports of table, kitchen or household articles and parts of iron. At the same time, Bangladesh (+25.1%), Sri Lanka (+18.6%) and Nepal (+6.9%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +25.1% from 2012-2021. By contrast, Pakistan (-8.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Sri Lanka and Bangladesh increased by +17 and +7.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported table, kitchen or household articles and parts of iron in Southern Asia, comprising 54% of total imports. The second position in the ranking was held by Sri Lanka ($X), with a 20% share of total imports. It was followed by Bangladesh, with a 15% share.

From 2012 to 2021, the average annual growth rate of value in India was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Sri Lanka (+24.1% per year) and Bangladesh (+38.3% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, reducing by -22.8% against the previous year. Import price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 an increase of 24% against the previous year. The level of import peaked at $X per ton in 2020, and then reduced markedly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Bangladesh ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+10.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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