Iron Or Steel Sanitary Ware Market

The global market for iron or steel sanitary ware and parts is expected to see a steady increase in consumption and value over the next eight years. From 2022 to 2030, the market is forecasted to experience a growth in volume and value, with a CAGR of +1.8% and +3.8% respectively. China remains the largest consumer and producer of iron or steel sanitary ware, followed by India and the United States. Global imports and exports of iron or steel sanitary ware also show significant trends, with China dominating the export market. Overall, the market is expected to see gradual growth and fluctuations in prices over the analyzed period.

Market Forecast

Driven by increasing demand for sanitary ware and parts of iron or steel 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 +1.8% for the period from 2022 to 2030, which is projected to bring the market volume to 1.3B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.8% for the period from 2022 to 2030, which is projected to bring the market value to $12.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Sanitary Ware And Parts Of Iron Or Steel

In 2022, global iron or steel sanitary ware consumption expanded sharply to 1.2B units, surging by 5.6% against the year before. Over the period under review, the total consumption indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.0% 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 +61.5% against 2016 indices. Global consumption peaked in 2022 and is likely to see steady growth in the immediate term.

The size of the market for sanitary ware and parts of iron or steel worldwide expanded slightly to $9.4B in 2022, surging by 4.9% 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). In general, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.6% against 2020 indices. Global consumption peaked at $9.5B in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Consumption By Country

China (193M units) remains the largest iron or steel sanitary ware consuming country worldwide, comprising approx. 17% of total volume. Moreover, iron or steel sanitary ware consumption in China exceeded the figures recorded by the second-largest consumer, the United States (93M units), twofold. India (67M units) ranked third in terms of total consumption with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +5.1%. In the other countries, the average annual rates were as follows: the United States (+9.0% per year) and India (+2.8% per year).

In value terms, Brazil ($1B), Japan ($900M) and China ($776M) were the countries with the highest levels of market value in 2022, with a combined 29% share of the global market. The United States, India, Turkey, Bangladesh, Germany, Indonesia, Nigeria, France, Pakistan and Italy lagged somewhat behind, together comprising a further 31%.

France, with a CAGR of +15.4%, recorded the highest growth rate of market size in terms of the main consuming countries 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 or steel sanitary ware per capita consumption in 2022 were Italy (510 units per 1000 persons), Germany (459 units per 1000 persons) and Turkey (445 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +17.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Sanitary Ware And Parts Of Iron Or Steel

In 2022, global iron or steel sanitary ware production expanded to 1.4B units, picking up by 4.9% on 2021 figures. In general, production enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2020 when the production volume increased by 26%. Over the period under review, global production attained the peak volume in 2022 and is likely to see gradual growth in the immediate term.

In value terms, iron or steel sanitary ware production fell to $12.8B in 2022 estimated in export price. Over the period under review, production saw prominent growth. The pace of growth was the most pronounced in 2017 when the production volume increased by 136% against the previous year. As a result, production attained the peak level of $15.7B. From 2018 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

China (707M units) remains the largest iron or steel sanitary ware producing country worldwide, comprising approx. 49% of total volume. Moreover, iron or steel sanitary ware production in China exceeded the figures recorded by the second-largest producer, India (67M units), more than tenfold. Turkey (42M units) ranked third in terms of total production with a 2.9% share.

In China, iron or steel sanitary ware production expanded at an average annual rate of +11.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+2.7% per year) and Turkey (-3.7% per year).

Imports

World Imports of Sanitary Ware And Parts Of Iron Or Steel

In 2022, purchases abroad of sanitary ware and parts of iron or steel decreased by -3.2% to 395M units for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 85%. Over the period under review, global imports hit record highs at 408M units in 2021, and then reduced in the following year.

In value terms, iron or steel sanitary ware imports shrank modestly to $2B in 2022. The total import value increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 20%. As a result, imports reached the peak of $2B, leveling off in the following year.

Imports By Country

In 2022, the United States (90M units), distantly followed by Germany (31M units), France (29M units) and the Netherlands (19M units) represented the key importers of sanitary ware and parts of iron or steel, together making up 43% of total imports. Italy (15M units), Belgium (11M units), Thailand (11M units), the United Arab Emirates (11M units), Spain (9.2M units), India (8.7M units), Poland (7.6M units), Bulgaria (7M units) and the UK (6.8M units) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to iron or steel sanitary ware imports into the United States stood at +15.9%. At the same time, Bulgaria (+29.3%), Thailand (+24.9%), France (+20.6%), India (+19.4%), Italy (+16.1%), Belgium (+14.8%), the United Arab Emirates (+13.1%), the Netherlands (+11.5%), Spain (+11.4%), Germany (+9.3%) and Poland (+8.9%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing importer imported in the world, with a CAGR of +29.3% from 2012-2022. The UK experienced a relatively flat trend pattern. The United States (+10 p.p.), France (+4.6 p.p.), Thailand (+2.1 p.p.) and Italy (+1.8 p.p.) significantly strengthened its position in terms of the global imports, while the UK saw its share reduced by -2.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($266M), Germany ($163M) and the Netherlands ($101M) appeared to be the countries with the highest levels of imports in 2022, together comprising 27% of global imports. France, the UK, the United Arab Emirates, Belgium, Italy, Spain, Poland, Thailand, India and Bulgaria lagged somewhat behind, together comprising a further 22%.

In terms of the main importing countries, Bulgaria, with a CAGR of +15.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average import price for sanitary ware and parts of iron or steel amounted to $4.9 per unit, picking up by 2.3% against the previous year. In general, the import price, however, recorded a noticeable downturn. The growth pace was the most rapid in 2014 when the average import price increased by 10% against the previous year. Over the period under review, average import prices hit record highs at $9.6 per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 the UK ($11 per unit), while Thailand ($2.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+5.9%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Sanitary Ware And Parts Of Iron Or Steel

In 2022, after five years of growth, there was decline in overseas shipments of sanitary ware and parts of iron or steel, when their volume decreased by -1.2% to 668M units. In general, exports, however, continue to indicate a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 164%. The global exports peaked at 676M units in 2021, and then declined in the following year.

In value terms, iron or steel sanitary ware exports reduced to $2.7B in 2022. Over the period under review, total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 +86.7% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. As a result, the exports attained the peak of $2.7B, leveling off in the following year.

Exports By Country

China dominates exports structure, finishing at 514M units, which was near 77% of total exports in 2022. The following exporters - Germany (30M units), the Netherlands (18M units), Poland (11M units) and Italy (10M units) - together made up 10% of total exports.

From 2012 to 2022, average annual rates of growth with regard to iron or steel sanitary ware exports from China stood at +16.3%. At the same time, the Netherlands (+21.6%), Italy (+11.6%), Germany (+10.0%) and Poland (+5.2%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +21.6% from 2012-2022. From 2012 to 2022, the share of China increased by +17 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($1.7B) remains the largest iron or steel sanitary ware supplier worldwide, comprising 64% of global exports. The second position in the ranking was taken by Germany ($193M), with a 7.3% share of global exports. It was followed by the Netherlands, with a 2.5% share.

In China, iron or steel sanitary ware exports increased at an average annual rate of +11.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+1.1% per year) and the Netherlands (+4.4% per year).

Export Prices By Country

The average export price for sanitary ware and parts of iron or steel stood at $4 per unit in 2022, remaining stable against the previous year. Overall, the export price, however, continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2016 an increase of 48% against the previous year. As a result, the export price reached the peak level of $13 per unit. From 2017 to 2022, the average export prices remained at a lower figure.

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 ($6.5 per unit), while China ($3.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-4.1%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform