ASEAN: Mattress Support Market 2024

Mattress Support Market Size in ASEAN

The ASEAN mattress support market dropped to $X in 2021, with a decrease of -2.5% against the previous year. The total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +6.6% against 2019 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Mattress Support Production in ASEAN

In value terms, mattress support production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when the production volume increased by 37% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Mattress Support Exports

Exports in ASEAN

In 2021, after two years of growth, there was significant decline in shipments abroad of mattress supports, when their volume decreased by -40% to X units. Over the period under review, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2019 when exports increased by 452% against the previous year. The volume of export peaked at X units in 2020, and then declined markedly in the following year.

In value terms, mattress support exports shrank remarkably to $X in 2021. Overall, exports, however, posted a significant expansion. The growth pace was the most rapid in 2019 when exports increased by 385% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020, and then fell sharply in the following year.

Exports by Country

In 2021, the Philippines (X units) was the largest exporter of mattress supports, creating 58% of total exports. It was distantly followed by Malaysia (X units), Indonesia (X units) and Vietnam (X units), together generating a 36% share of total exports. Thailand (X units) and Myanmar (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to mattress support exports from the Philippines stood at +92.4%. At the same time, Myanmar (+390.7%), Vietnam (+24.7%), Malaysia (+24.2%) and Indonesia (+3.3%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +390.7% from 2012-2021. By contrast, Thailand (-12.1%) illustrated a downward trend over the same period. While the share of the Philippines (+57 p.p.), Malaysia (+7.7 p.p.), Vietnam (+2.8 p.p.) and Myanmar (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Indonesia (-23.1 p.p.) and Thailand (-41 p.p.) displayed negative dynamics.

In value terms, the Philippines ($X) emerged as the largest mattress support supplier in ASEAN, comprising 62% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 16% share of total exports. It was followed by Indonesia, with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the Philippines totaled +85.3%. In the other countries, the average annual rates were as follows: Malaysia (+25.6% per year) and Indonesia (+16.5% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, rising by 30% against the previous year. Export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, mattress support export price increased by +15.0% against 2018 indices. The pace of growth appeared the most rapid in 2015 when the export price increased by 34%. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Myanmar ($X per unit), while Vietnam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+12.7%), while the other leaders experienced more modest paces of growth.

Mattress Support Imports

Imports in ASEAN

In 2021, mattress support imports in ASEAN surged to X units, increasing by 36% compared with 2020. In general, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2018 when imports increased by 56%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, mattress support imports soared to $X in 2021. Total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +117.5% against 2015 indices. The growth pace was the most rapid in 2018 with an increase of 45%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Malaysia (X units) represented the largest importer of mattress supports, creating 51% of total imports. Indonesia (X units) ranks second in terms of the total imports with a 12% share, followed by Singapore (11%), Vietnam (9.8%) and Thailand (9.4%). The Philippines (X units) followed a long way behind the leaders.

Imports into Malaysia increased at an average annual rate of +2.0% from 2012 to 2021. At the same time, Indonesia (+24.4%), Vietnam (+13.3%), Singapore (+12.4%), Thailand (+6.7%) and the Philippines (+4.7%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +24.4% from 2012-2021. From 2012 to 2021, the share of Indonesia, Singapore and Vietnam increased by +9.3, +4.9 and +4.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported mattress supports in ASEAN, comprising 41% of total imports. The second position in the ranking was taken by Singapore ($X), with a 17% share of total imports. It was followed by Vietnam, with a 15% share.

From 2012 to 2021, the average annual growth rate of value in Malaysia totaled -3.8%. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (+11.6% per year) and Vietnam (+11.8% per year).

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2021, reducing by -6% against the previous year. In general, the import price continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2013 when the import price increased by 27%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+9.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform