Turkey: Stainless Steel Sink Market 2024

Stainless Steel Sink Market Size in Turkey

The Turkish stainless steel sink market reduced modestly to $X in 2022, with a decrease of X% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Stainless steel sink consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Stainless Steel Sink Production in Turkey

In value terms, stainless steel sink production declined dramatically to $X in 2022 estimated in export price. In general, production, however, saw a prominent increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Stainless Steel Sink Exports

Exports from Turkey

In 2022, approx. X units of stainless steel sinks and wash basins were exported from Turkey; waning by X% against the previous year's figure. Overall, exports recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, stainless steel sink exports shrank to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

Germany (X units), the United States (X units) and Egypt (X units) were the main destinations of stainless steel sink exports from Turkey, with a combined X% share of total exports. The UK, Poland, France, Romania, the United Arab Emirates, Morocco, Spain, Russia, Italy and the Netherlands lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and the UK ($X) appeared to be the largest markets for stainless steel sink exported from Turkey worldwide, with a combined X% share of total exports.

The UK, with a CAGR of X%, recorded the highest growth rate of 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 2022, the average stainless steel sink export price amounted to $X per unit, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Egypt ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Stainless Steel Sink Imports

Imports into Turkey

In 2022, supplies from abroad of stainless steel sinks and wash basins increased by X% to X units, rising for the second year in a row after four years of decline. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, stainless steel sink imports rose significantly to $X in 2022. Overall, imports, however, continue to indicate a noticeable descent. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest stainless steel sink supplier to Turkey, accounting for a X% share of total imports. Moreover, stainless steel sink imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), fourfold. Germany (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Germany (X% per year).

In value terms, the largest stainless steel sink suppliers to Turkey were China ($X), Italy ($X) and Germany ($X), with a combined X% share of total imports.

In terms of the main suppliers, China, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average stainless steel sink import price amounted to $X per unit, declining by X% against the previous year. In general, the import price continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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