Global Smoothing Iron Market Overview
In value terms, smoothing iron production amounted to $2.8B in 2010 estimated in export prices. Overall, smoothing iron production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2010 when production volume increased by 4.6% y-o-y. Over the period under review, global smoothing iron production reached its peak figure level at $2.9B in 2007; however, from 2008 to 2010, production failed to regain its momentum.
China (143M units) remains the largest smoothing iron producing country worldwide, accounting for 60% of total volume. Moreover, smoothing iron production in China exceeded the figures recorded by the second-largest producer, Indonesia (33M units), fourfold. The U.S. (9.8M units) ranked third in terms of total production with a 4.2% share.
In China, smoothing iron production expanded at an average annual rate of +2.0% over the period from 2007-2010. In the other countries, the average annual rates were as follows: Indonesia (+26.0% per year) and the U.S. (+12.5% per year).
The global smoothing iron market revenue amounted to $2.6B in 2010, stabilizing at 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). The market value increased at an average annual rate of +2.0% over the period from 2007 to 2010; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed over the period under review. The pace of growth appeared the most rapid in 2008 with an increase of 9.3% year-to-year. In that year, the global smoothing iron market attained its peak level of $2.6B. From 2009 to 2010, the growth of the global smoothing iron market remained at a lower figure.
From 2007 to 2010, the most notable rate of growth in terms of smoothing iron consumption, amongst the main consuming countries, was attained by South Africa, while smoothing iron consumption for the other global leaders experienced more modest paces of growth.
In value terms, China ($373M), the U.S. ($300M) and Germany ($155M) constituted the countries with the highest levels of market value in 2010, together accounting for 32% of the global market. The UK, Russia, France, Italy, Brazil, the United Arab Emirates, Indonesia, Mexico and South Africa lagged somewhat behind, together accounting for a further 32%.
Among the main consuming countries, the United Arab Emirates recorded the highest rates of growth with regard to market size, over the period under review, while smoothing iron market for the other global leaders experienced more modest paces of growth.
In 2010, the highest levels of smoothing iron per capita consumption was registered in the United Arab Emirates (950 units per 1000 persons), followed by the UK (154 units per 1000 persons), South Africa (101 units per 1000 persons) and the U.S. (96 units per 1000 persons), while the world average per capita consumption of smoothing iron was estimated at 29 units per 1000 persons.
From 2007 to 2010, the average annual growth rate of the smoothing iron per capita consumption in the United Arab Emirates totaled -3.9%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the UK (-1.5% per year) and South Africa (+10.4% per year).