ASEAN: Metal Domestic Furniture Market 2024

Metal Domestic Furniture Market Size in ASEAN

The ASEAN metal domestic furniture market rose sharply to $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Metal Domestic Furniture Production in ASEAN

In value terms, metal domestic furniture production reached $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Metal Domestic Furniture Exports

Exports in ASEAN

In 2022, after eight years of growth, there was decline in overseas shipments of metal furniture, when their volume decreased by X% to X tons. Overall, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021, and then fell in the following year.

In value terms, metal domestic furniture exports rose significantly to $X in 2022. Over the period under review, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

Vietnam prevails in exports structure, amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by Malaysia (X tons) and Cambodia (X tons), together creating a X% share of total exports. Indonesia (X tons) held a little share of total exports.

Exports from Vietnam increased at an average annual rate of X% from 2012 to 2022. At the same time, Cambodia (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Malaysia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Cambodia increased by X and X percentage points, respectively.

In value terms, Vietnam ($X) remains the largest metal domestic furniture supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Vietnam stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Malaysia (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

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 Indonesia ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Metal Domestic Furniture Imports

Imports in ASEAN

In 2022, purchases abroad of metal furniture increased by X% to X tons, rising for the second year in a row after two years of decline. Total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, metal domestic furniture imports declined to $X in 2022. Overall, imports enjoyed strong growth. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

Indonesia represented the main importer of metal furniture in ASEAN, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2022. Malaysia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (X%), Singapore (X%), the Philippines (X%) and Vietnam (X%). Cambodia (X tons) took a minor share of total imports.

Imports into Indonesia increased at an average annual rate of X% from 2012 to 2022. At the same time, Cambodia (X%), Malaysia (X%), the Philippines (X%), Thailand (X%), Singapore (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. While the share of Malaysia (X p.p.) and Cambodia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Vietnam (X p.p.), Singapore (X p.p.) and Indonesia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), the Philippines ($X) and Singapore ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

The Philippines, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, falling by X% against the previous year. Import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2021, and then declined in the following year.

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 Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform