Eastern Asia: Iron Household Articles Market 2024

Iron Household Articles Market Size in Eastern Asia

For the twelfth year in a row, the East Asian iron household articles market recorded growth in sales value, which increased by X% to $X in 2023. In general, consumption recorded prominent growth. Over the period under review, the market attained the maximum level in 2023 and is likely to see gradual growth in years to come.

Iron Household Articles Production in Eastern Asia

In value terms, iron household articles production rose to $X in 2023 estimated in export price. The total production indicated a notable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Iron Household Articles Exports

Exports in Eastern Asia

Iron household articles exports amounted to X tons in 2023, picking up by X% on 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, iron household articles exports shrank to $X in 2023. Total exports indicated a modest increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China prevails in exports structure, accounting for X tons, which was near X% of total exports in 2023. It was distantly followed by Taiwan (Chinese) (X tons), committing a X% share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of table, kitchen or household articles and parts of iron. Taiwan (Chinese) experienced a relatively flat trend pattern. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest iron household articles supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports.

In China, iron household articles exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, with a decrease of X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2022, and then fell in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%).

Iron Household Articles Imports

Imports in Eastern Asia

In 2023, supplies from abroad of table, kitchen or household articles and parts of iron decreased by X% to X tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, iron household articles imports declined to $X in 2023. Total imports indicated a moderate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Japan was the main importer of table, kitchen or household articles and parts of iron in Eastern Asia, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2023. South Korea (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (X%). Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to iron household articles imports into Japan stood at X%. At the same time, South Korea (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of South Korea (X p.p.) and Taiwan (Chinese) (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported table, kitchen or household articles and parts of iron in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

In Japan, iron household articles imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, leveling off at the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2022, and then dropped modestly in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Japan ($X per ton) and South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) and Hong Kong SAR ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform