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The 2011 Report on Fabricated Metal Products Manufacturing: World Market Segmentation by City
ICON Group International, Jan 2011, Pages: 423
Market Potential Estimation Methodology
Overview
This study covers the world outlook for fabricated metal products manufacturing across more than 2000 cities. For the year reported, estimates are given for the latent demand, or potential industry earnings (P.I.E.), for the city in question (in millions of U.S. dollars), the percent share the city is of the region and of the globe. These comparative benchmarks allow the reader to quickly gauge a city vis-à-vis others. Using econometric models which project fundamental economic dynamics within each country and across countries, latent demand estimates are created. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.
This study does not report actual sales data (which are simply unavailable, in a comparable or consistent manner in virtually all of the cities of the world). This study gives, however, my estimates for the worldwide latent demand, or the P.I.E. for fabricated metal products manufacturing. It also shows how the P.I.E. is divided across the world’s cities. In order to make these estimates, a multi-stage methodology was employed that is often taught in courses on international strategic planning at graduate schools of business.
What is Latent Demand and the P.I.E.?
The concept of latent demand is rather subtle. The term latent typically refers to something that is dormant, not observable, or not yet realized. Demand is the notion of an economic quantity that a target population or market requires under different assumptions of price, quality, and distribution, among other factors. Latent demand, therefore, is commonly defined by economists as the industry earnings of a market when that market becomes accessible and attractive to serve by competing firms. It is a measure, therefore, of potential industry earnings (P.I.E.) or total revenues (not profit) if a market is served in an efficient manner. It is typically expressed as the total revenues potentially extracted by firms. The “market” is defined at a given level in the value chain. There can be latent demand at the retail level, at the wholesale level, the manufacturing level, and the raw materials level (the P.I.E. of higher levels of the value chain being always smaller than the P.I.E. of levels at lower levels of the same value chain, assuming all levels maintain minimum profitability).
The latent demand for fabricated metal products manufacturing is not actual or historic sales. Nor is latent demand future sales. In fact, latent demand can be lower either lower or higher than actual sales if a market is inefficient (i.e., not representative of relatively competitive levels). Inefficiencies arise from a number of factors, including the lack of international openness, cultural barriers to consumption, regulations, and cartel-like behavior on the part of firms. In general, however, latent demand is typically larger than actual sales in a city market.
Another reason why sales do not equate to latent demand is exchange rates. In this report, all figures assume the long-run efficiency of currency markets. Figures, therefore, equate values based on purchasing power parities across countries. Short-run distortions in the value of the dollar, therefore, do not figure into the estimates. Purchasing power parity estimates of country income were collected from official sources, and extrapolated using standard econometric models. The report uses the dollar as the currency of comparison, but not as a measure of transaction volume. The units used in this report are: US $ mln.
For reasons discussed later, this report does not consider the notion of “unit quantities”, only total latent revenues (i.e., a calculation of price times quantity is never made, though one is implied). The units used in this report are U.S. dollars not adjusted for inflation (i.e., the figures incorporate inflationary trends) and not adjusted for future dynamics in exchange rates (i.e., the figures reflect average exchange rates over recent history). If inflation rates or exchange rates vary in a substantial way compared to recent experience, actually sales can also exceed latent demand (when expressed in U.S. dollars, not adjusted for inflation). On the other hand, latent demand can be typically higher than actual sales as there are often distribution inefficiencies that reduce actual sales below the level of latent demand.
As mentioned earlier, this study is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved. If fact, all the current products or services on the market can cease to exist in their present form (i.e., at a brand-, R&D specification, or corporate-image level) and all the players can be replaced by other firms (i.e., via exits, entries, mergers, bankruptcies, etc.), and there will still be an international latent demand for fabricated metal products manufacturing at the aggregate level. Product and service offering details, and the actual identity of the players involved, while important for certain issues, are relatively unimportant for estimates of latent demand.
The Methodology
In order to estimate the latent demand for fabricated metal products manufacturing on a city-by-city basis, I used a multi-stage approach. Before applying the approach, one needs a basic theory from which such estimates are created. In this case, I heavily rely on the use of certain basic economic assumptions. In particular, there is an assumption governing the shape and type of aggregate latent demand functions. Latent demand functions relate the income of a country, city, state, household, or individual to realized consumption. Latent demand (often realized as consumption when an industry is efficient), at any level of the value chain, takes place if an equilibrium in realized. For firms to serve a market, they must perceive a latent demand and be able to serve that demand at a minimal return. The single most important variable determining consumption, assuming latent demand exists, is income (or other financial resources at higher levels of the value chain). Other factors that can pivot or shape demand curves include external or exogenous shocks (i.e., business cycles), and or changes in utility for the product in question.
Ignoring, for the moment, exogenous shocks and variations in utility across countries, the aggregate relation between income and consumption has been a central theme in economics. The figure below concisely summarizes one aspect of problem. In the 1930s, John Meynard Keynes conjectured that as incomes rise, the average propensity to consume would fall. The average propensity to consume is the level of consumption divided by the level of income, or the slope of the line from the origin to the consumption function. He estimated this relationship empirically and found it to be true in the short-run (mostly based on cross-sectional data). The higher the income, the lower the average propensity to consume. This type of consumption function is labeled 'A' in the figure below (note the rather flat slope of the curve). In the 1940s, another macroeconomist, Simon Kuznets, estimated long-run consumption functions which indicated that the marginal propensity to consume was rather constant (using time series data across countries). This type of consumption function is show as 'B' in the figure below (note the higher slope and zero-zero intercept). The average propensity to consume is constant.
Is it declining or is it constant? A number of other economists, notably Franco Modigliani and Milton Friedman, in the 1950s (and Irving Fisher earlier), explained why the two functions were different using various assumptions on intertemporal budget constraints, savings, and wealth. The shorter the time horizon, the more consumption can depend on wealth (earned in previous years) and business cycles. In the long-run, however, the propensity to consume is more constant. Similarly, in the long run, households, industries or countries with no income eventually have no consumption (wealth is depleted). While the debate surrounding beliefs about how income and consumption are related and interesting, in this study a very particular school of thought is adopted. In particular, we are considering the latent demand for fabricated metal products manufacturing across some 230 countries. The smallest have fewer than 10,000 inhabitants. I assume that all of these counties fall along a 'long-run' aggregate consumption function. This long-run function applies despite some of these countries having wealth, current income dominates the latent demand for fabricated metal products manufacturing. So, latent demand in the long-run has a zero intercept. However, I allow firms to have different propensities to consume (including being on consumption functions with differing slopes, which can account for differences in industrial organization, and end-user preferences).
Given this overriding philosophy, I will now describe the methodology used to create the latent demand estimates for fabricated metal products manufacturing. Since ICON Group has asked me to apply this methodology to a large number of categories, the rather academic discussion below is general and can be applied to a wide variety of categories, not just fabricated metal products manufacturing.
Step 1. Product Definition and Data Collection
Any study of latent demand across countries requires that some standard be established to define “efficiently served”. Having implemented various alternatives and matched these with market outcomes, I have found that the optimal approach is to assume that certain key countries or cities are more likely to be at or near efficiency than others. These are given greater weight than others in the estimation of latent demand compared to others for which no known data are available. Of the many alternatives, I have found the assumption that the world’s highest aggregate income and highest income-per-capita markets reflect the best standards for “efficiency”. High aggregate income alone is not sufficient (i.e., China has high aggregate income, but low income per capita and can not assumed to be efficient). Aggregate income can be operationalized in a number of ways, including gross domestic product (for industrial categories), or total disposable income (for household categories; population times average income per capita, or number of households times average household income per capita). Brunei, Nauru, Kuwait, and Lichtenstein are examples of countries with high income per capita, but not assumed to be efficient, given low aggregate level of income (or gross domestic product); these countries have, however, high incomes per capita but may not benefit from the efficiencies derived from economies of scale associated with large economies. Only countries with high income per capita and large aggregate income are assumed efficient. This greatly restricts the pool of countries to those in the OECD (Organization for Economic Cooperation and Development), like the United States, or the United Kingdom (which were earlier than other large OECD economies to liberalize their markets).
The selection of countries is further reduced by the fact that not all countries in the OECD report industry revenues at the category level. Countries that typically have ample data at the aggregate level that meet the efficiency criteria include the United States, the United Kingdom and in some cases France and Germany.
Latent demand is therefore estimated using data collected for relatively efficient markets from independent data sources (e.g. Euromonitor, Mintel, Thomson Financial Services, the U.S. Industrial Outlook, the World Resources Institute, the Organization for Economic Cooperation and Development, various agencies from the United Nations, industry trade associations, the International Monetary Fund, and the World Bank). Depending on original data sources used, the definition of “fabricated metal products manufacturing” is established. In the case of this report, the data were reported at the aggregate level, with no further breakdown or definition. In other words, any potential product or service that might be incorporated within fabricated metal products manufacturing falls under this category. Public sources rarely report data at the disaggregated level in order to protect private information from individual firms that might dominate a specific product-market. These sources will therefore aggregate across components of a category and report only the aggregate to the public. While private data are certainly available, this report only relies on public data at the aggregate level without reliance on the summation of various category components. In other words, this report does not aggregate a number of components to arrive at the “whole”. Rather, it starts with the “whole”, and estimates the whole for all cities and the world at large (without needing to know the specific parts that went into the whole in the first place).
Given this caveat, this study covers “fabricated metal products manufacturing” as defined by the North American Industrial Classification system or NAICS (pronounced “nakes”). fabricated metal products manufacturing The NAICS code for fabricated metal products manufacturing is 332. It is for this definition of fabricated metal products manufacturing that the aggregate latent demand estimates are derived. “Fabricated metal products manufacturing” is specifically defined as follows:
332
Industries in the Fabricated Metal Product Manufacturing subsector transform metal into intermediate or end products, other than machinery, computers and electronics, and metal furniture or treating metals and metal formed products fabricated elsewhere. Important fabricated metal processes are forging, stamping, bending, forming, and machining, used to shape individual pieces of metal; and other processes, such as welding and assembling, used to join separate parts together. Establishments in this subsector may use one of these processes or a combination of these processes.
The NAICS structure for this subsector distinguishes the forging and stamping processes in a single industry. The remaining industries, in the subsector, group establishments based on similar combinations of processes used to make products.
The manufacturing performed in the Fabricated Metal Product Manufacturing subsector begins with manufactured metal shapes. The establishments in this sector further fabricate the purchased metal shapes into a product. For instance, the Spring and Wire Product Manufacturing industry starts with wire and fabricates such items.
Within manufacturing there are other establishments that make the same products made by this subsector; only these establishments begin production further back in the production process. These establishments have a more integrated operation. For instance, one establishment may manufacture steel, draw it into wire, and make wire products in the same establishment. Such operations are classified in the Primary Metal Manufacturing subsector.
3321
Forging and Stamping
33211
This industry comprises establishments primarily engaged in one or more of the following: (1) manufacturing forgings from purchased metals; (2) manufacturing metal custom roll forming products; (3) manufacturing metal stamped and spun products (except automotive, cans, coins); and (4) manufacturing powder metallurgy products. Establishments making metal forgings, metal stampings, and metal spun products and further manufacturing (e.g., machining, assembling) a specific manufactured product are classified in the industry of the finished product. Metal forging, metal stamping, and metal spun products establishments may perform surface finishing operations, such as cleaning and deburring, on the products they manufacture.
332111
This U.S. industry comprises establishments primarily engaged in manufacturing iron and steel forgings from purchased iron and steel by hammering mill shapes. Establishments making iron and steel forgings and further manufacturing (e.g., machining, assembling) a specific manufactured product are classified in the industry of the finished product. Iron and steel forging establishments may perform surface finishing operations, such as cleaning and deburring, on the forgings they manufacture.
3321111
HOT IMPRESSION DIE IMPACT, PRESS, AND UPSET STEEL FORGINGS
33211111
Hot impression die impact, press, and upset carbon steel forgings
3321111101
Hot impression die impact, press, and upset carbon steel forgings
33211112
Hot impression die impact, press, and upset alloy steel forgings, excluding stainless and hi_temp
3321111206
Hot impression die impact, press, and upset alloy steel forgings, excluding stainless and hi_temp
33211113
Hot impression die impact, press, and upset stainless steel forgings
3321111311
Hot impression die impact, press, and upset stainless steel forgings
33211114
Hot impression die impact, press, and upset hi_temp (iron, nickel, or cobalt_ base alloy) steel forgings
3321111416
Hot impression die impact, press, and upset hi_temp (iron, nickel, or cobalt_ base alloy) steel forgings
3321113
COLD IMPRESSION DIE IMPACT, PRESS, AND UPSET STEEL FORGINGS
33211131
Cold impression die impact, press, and upset steel forgings
3321113101
Cold impression die impact, press, and upset carbon steel forgings
3321113106
Cold impression die impact, press, and upset alloy steel forgings
3321113111
Cold impression die impact, press, and upset stainless steel and hi~temp (iron, nickel, or cobalt~base alloy) forgings
3321113116
Cold impression die impact, press, and upset stainless steel and hi_temp (iron, nickel, or cobalt_base alloy) forgings
3321115
Hot impression die impact, press and upset ferrous forgings
33211151
Seamless rolled ring forgings, ferrous, made from purchased iron and steel
3321115101
Seamless carbon steel and alloy steel rolled ring forgings (excluding stainless and hi_temperature), made from purchased iron and steel
3321115106
Seamless stainless steel and hi_temperature (iron, nickel, or cobalt_base alloy) rolled ring forgings, made from purchased iron and steel
332111511
Carbon steel
332111513
Alloy steel, except stainless and high-temperature
332111515
Stainless steel
332111517
High-temperature iron, nickel and cobalt-base alloys
3321116
Cold impression die impact, press and upset ferrous forgings
3321117
Seamless rolled-ring ferrous forgings
33211171
Open die and smith forgings (hammer and press), ferrous, made from purchased iron and steel
3321117101
Carbon and alloy steel open die and smith forgings (hammer and press), excluding stainless and hi_temperature, made from purchased iron and steel
3321117106
Stainless steel and hi_temperature (iron, nickel, or cobalt_base alloy) open die and smith forgings (hammer and press), made from purchased iron and steel
3321118
Open die or smith (hammer or press) ferrous forgings
332111M
Miscellaneous receipts
332111P
Primary products
332111S
Secondary products
332111SM
Secondary products and miscellaneous receipts
332112
This U.S. industry comprises establishments primarily engaged in manufacturing nonferrous forgings from purchased nonferrous metals by hammering mill shapes. Establishments making nonferrous forgings and further manufacturing (e.g., machining, assembling) a specific manufactured product are classified in the industry of the finished product. Nonferrous forging establishments may perform surface finishing operations, such as cleaning and deburring, on the forgings they manufacture.
3321121
Other nonferrous forgings, inc. cold impres sion die impact and seamless rolled
33211211
Hot impression die impact, press, and upset aluminum and aluminum alloy forgings
3321121101
Hot impression die impact, press, and upset aluminum and aluminum alloy forgings
3321121115
Hot impression die press and input aluminum and aluminum alloy forgings (excluding impact extrusions)
3321121125
Hot impression impact aluminum and aluminum alloy forgings (excluding collapsible tubes and cans)
33211212
Hot impression die impact, press, and upset titanium and titanium alloy forgings
3321121206
Hot impression die impact, press, and upset titanium and titanium alloy forgings
33211213
Other hot impression die impact, press, and upset nonferrous
3321121311
Hot impression die impact, press, and upset copper and copper_base alloy forgings
3321121316
Other hot impression die impact, press, and upset nonferrous forgings
3321122
OTHER NONFERROUS FORGINGS
33211221
Other nonferrous forgings
3321122101
Cold impression die impact, press, and upset nonferrous forgings
3321122106
Seamless rolled ring nonferrous forgings
3321122111
Open die or smith nonferrous forgings, hammer or press
3321125
Hot impression die impact, press and upset nonferrous forgings
332112521
Aluminum and aluminum alloy
332112523
Titanium and titanium alloy
332112527
Other nonferrous hot impression die forgings
332112M
Miscellaneous receipts
332112P
Primary products
332112S
Secondary products
332112SM
Secondary products and miscellaneous receipts
332114
This U.S. industry comprises establishments primarily engaged in custom roll forming metal products by use of rotary motion of rolls with various contours to bend or shape the products.
3321140
CUSTOM ROLL FORM PRODUCTS
33211401
Custom carbon steel roll form products
3321140101
Custom carbon steel roll form products
33211402
Custom stainless steel roll form products
3321140206
Custom stainless steel roll form products
33211403
Custom aluminum roll form products
3321140311
Custom aluminum roll form products
33211404
Other custom metal roll form products
3321140416
Other custom metal roll form products
3321148
Custom roll forming
332114M
Miscellaneous receipts
332114P
Primary products
332114S
Secondary products
332114SM
Secondary products and miscellaneous receipts
332115
This U.S. industry comprises establishments primarily engaged in stamping metal crowns and closures, such as bottle caps and home canning lids and rings.
3321150
CROWNS AND CLOSURES
33211501
Metal commercial closures and metal home_canning closures, except crowns
3321150101
Metal and metal_composite closures, including home_canning closures
3321150103
Metal crowns (including soft drinks, beer, and all other)
3321150106
All other metal closures, including beer and roll_ons
3321151
Metal commercial closures
3321154
Metal crowns
332115M
Miscellaneous receipts
332115P
Primary products
332115S
Secondary products
332115SM
Secondary products and miscellaneous receipts
332116
This U.S. industry comprises establishments primarily engaged in manufacturing unfinished metal stampings and spinning unfinished metal products (except crowns, cans, closures, automotive, and coins). Establishments making metal stampings and metal spun products and further manufacturing (e.g., machining, assembling) a specific product are classified in the industry of the finished product. Metal stamping and metal spun products establishments may perform surface finishing operations, such as cleaning and deburring, on the products they manufacture.
3321161
Metal job stampings, except automotive
33211611
Recreational vehicle metal job stampings (motor homes, travel trailers, etc.)
3321161101
Recreational vehicle metal job stampings (motor homes, travel trailers, etc.)
3321161115
Agricultural equipment metal job stampings, including tractor
33211612
Motor and generator metal job stampings
3321161205
Motor and generator metal job stampings
33211613
Other metal job stampings
3321161311
Aviation metal job stampings
3321161331
Furniture metal job stampings
3321161352
Radio and phonograph metal job stampings, except automotive
3321161354
Television metal job stampings
3321161388
Other industrial equipment metal job stampings
3321161398
Other metal job stampings, except automotive
33211614
Computer and office machine metal job stampings
3321161421
Computer metal job stampings
3321161441
Office machine metal job stampings, excluding computer
33211615
Electrical appliance metal job stampings (residential, commercial, and industrial)
3321161525
Electrical appliance metal job stampings, except refrigeration and laundry equipment
3321161561
Refrigeration metal job stampings (residential, commercial, and industrial)
3321161571
Stove, heater, and air_conditioner metal job stampings (residential, commercial, and industrial), except automotive
3321161584
Laundry equipment metal job stampings (residential, commercial, and industrial)
3321163
METAL SPINNING PRODUCTS, EXCLUDING COOKING AND KITCHEN UTENSILS
33211631
Metal spinning products, excluding cooking and kitchen utensils
3321163100
Metal spinning products, excluding cooking and kitchen utensils
3321165
Other stamped and pressed metal end products
33211651
Stamped and pressed vitreous (porcelain) enameled metal architectural parts (exterior and interior), including store front and curtain wall components
3321165101
Stamped and pressed vitreous (porcelain) enameled metal architectural parts (exterior and interior), including store front and curtain wall components
33211652
Stamped and pressed metal end products, excluding spinning products and metal electric enclosures
3321165211
Other stamped and pressed vitreous (porcelain) enameled products (including refrigerator and laundry equipment parts and commercial and hospital utensils), except cooking and kitchen utensils
3321165221
Stamped and pressed metal chemical milling products, milled contoured metal, and clad and bonded metal products
3321165231
Perforated metal end products
3321165241
Stamped and pressed galvanized steel pails, ash cans, garbage cans, tubs, etc., excluding shipping containers
3321165251
Other stamped and pressed metal pails, ash cans, garbage cans, tubs, etc., excluding shipping containers (including other grades of steel)
3321165271
Stamped and pressed metal mailboxes (commercial and multiple unit residential)
3321165281
Stamped and pressed metal toolboxes
3321165291
Other stamped and pressed metal end products, excluding spinning products
33211653
Metal electronic enclosures (stamped and~or pressed), excluding computer stampings
3321165361
Metal electronic enclosures (stamped and~or pressed), excluding computer stampings
3321166
STAMPED AND PRESSED METAL END PRODUCTS, INCLUDING VITREOUS (PORCELAIN) ENAMELED PRODUCTS
33211661
Stamped and pressed vitreous (porcelain) enameled metal architectural parts (exterior and interior), including store front and curtain wall components
3321166101
Stamped and pressed vitreous (porcelain) enameled metal architectural parts (exterior and interior), including store front and curtain wall components
33211662
Stamped and pressed metal end products, excluding spinning products and metal electric enclosures
3321166211
Other stamped and pressed vitreous (porcelain) enameled products (including refrigerator and laundry equipment parts and commercial and hospital utensils), except cooking and kitchen utensils
3321166221
Stamped and pressed metal chemical milling products, milled contoured metal, and clad and bonded metal products
3321166231
Perforated metal end products
3321166295
Other stamped and pressed metal end products, excluding spinning products
33211663
Metal electronic enclosures (stamped and pressed), excluding computer stampings
3321166361
Metal electronic enclosures (stamped and pressed), excluding computer stampings
332116M
Miscellaneous receipts
332116P
Primary products
332116S
Secondary products
332116SM
Secondary products and miscellaneous receipts
332117
This U.S. industry comprises establishments primarily engaged in manufacturing powder metallurgy products by compacting them in a shaped die and sintering. Establishments in this industry generally make a wide range of parts on a job or order basis.
3321170
Powder metallurgy parts
33211701
Copper and copper_base alloy
3321170106
Copper and copper_base alloy
33211702
Iron and steel powder metallurgy parts
3321170211
Iron and steel powder metallurgy parts
33211703
Tungsten metal and tungsten_base alloy powder metallurgy parts
3321170321
Tungsten metal and tungsten_base alloy powder metallurgy parts
33211704
Powder metallurgy materials, excluding bearings, gears, and machine cutting tools and all cemented carbide parts
3321170401
Aluminum and aluminum_base alloy powder metallurgy parts
3321170416
Nickel_cobalt_base super alloy powder metallurgy parts
3321170426
Other powder metallurgy materials, excluding bearings, gears, and machine cutting tools and all cemented carbide parts
332117M
Miscellaneous receipts
332117P
Primary products
332117S
Secondary products
332117SM
Secondary products and miscellaneous receipts
3322
Cutlery and Handtool Manufacturing
33221
This industry comprises establishments primarily engaged in one or more of the following: (1) manufacturing nonprecious and precious plated metal cutlery and flatware; (2) manufacturing nonpowered hand and edge tools; (3) manufacturing nonpowered handsaws; (4) manufacturing saw blades, all types (including those for sawing machines); and (5) manufacturing metal kitchen utensils (except cutting-type) and pots and pans (except those manufactured by casting (e.g., cast iron skillets) or stamped without further fabrication).
332211
This U.S. industry comprises establishments primarily engaged in manufacturing nonprecious and precious plated metal cutlery and flatware.
3322111
Cutlery, scissors, shears, trimmers, and snips
33221111
Table cutlery (knives, forks, spoons, etc.) for food serving and eating, with handles of materials other than metal
3322111101
Table cutlery (knives, forks, spoons, etc.) for food serving and eating, with handles of materials other than metal
3322111103
Flatware made of base metal clad with nonprecious metal (including partly finished flatware)
3322111106
Base metal hollowware clad with nonprecious metal
33221111A
Cutlery
33221111B
Scissors and shears
33221111C
Other knives (Incl. pocket, pen, and replacement blade knives)
33221112
Cutlery
3322111211
Kitchen cutlery (including knives, forks, cleavers, butchers, and meat packing cutlery), excluding carving sets
3322111222
Other cutlery (including knife blades sold separately)
33221113
Scissors and shears
3322111326
Household scissors and barber shears, pinking shears, and tailoring shears
3322111331
Manicure and pedicure scissors and implements (including tweezers)
3322111336
Metal cutting shears (including aviation and tinners’ snips, BX and wire filament cutters)
3322111344
All other scissors and shears (including hedge and grass shears and pruners)
33221114
Other knives (including pocket, pen, and replacement blade knives)
3322111455
Other knives (including pocket, pen, and replacement blade knives)
3322112
Razors and razor blades, except electric
33221121
Flatware and cultery
3322112101
Table cutlery (knives, forks, spoons etc.) for food serving and eating, with handles of materials other than metal
3322112102
Electrosilverplated flatware and cutlery, electrosilverplated to a nonprecious (except pewter) metal base, including all knives, forks, spoons, and carving sets made wholly of metal
3322112103
Flatware made of base metal clad with nonprecious metal
3322112104
Flatware and cutlery, precious and nonprecious metal plated to a nonprecious (except pewter) metal base, excluding electrosilverplated, including whole metal utensils and carving sets
3322
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