ASEAN: Wooden Furniture Treatments Market 2024

Wooden Furniture Treatments Market Size in ASEAN

The ASEAN wooden furniture treatments market stood at $X in 2022, surging by 1.6% against the previous year. Over the period under review, consumption saw a noticeable contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Wooden Furniture Treatments Production in ASEAN

In value terms, wooden furniture treatments production rose modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible decrease. The pace of growth was the most pronounced in 2015 with an increase of 20%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Wooden Furniture Treatments Exports

Exports in ASEAN

In 2022, after two years of decline, there was significant growth in overseas shipments of polishes and creams for wooden furniture and floors, when their volume increased by 9.6% to X tons. In general, exports, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2014 with an increase of 24%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, wooden furniture treatments exports soared to $X in 2022. Over the period under review, exports, however, saw a noticeable descent. The pace of growth was the most pronounced in 2017 when exports increased by 28%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Thailand (X tons), Vietnam (X tons), Malaysia (X tons) and Singapore (X tons), together accounting for 98% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Malaysia (with a CAGR of +4.3%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Singapore ($X), Vietnam ($X) and Thailand ($X) were the countries with the highest levels of exports in 2022, together accounting for 81% of total exports.

In terms of the main exporting countries, Singapore, with a CAGR of +3.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, surging by 16% against the previous year. Export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wooden furniture treatments export price increased by +18.8% against 2019 indices. The growth pace was the most rapid in 2016 when the export price increased by 45%. Over the period under review, the export prices hit record highs at $X per ton in 2018; afterwards, it flattened through to 2022.

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 Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+5.1%), while the other leaders experienced more modest paces of growth.

Wooden Furniture Treatments Imports

Imports in ASEAN

In 2022, purchases abroad of polishes and creams for wooden furniture and floors increased by 5.7% to X tons, rising for the second year in a row after three years of decline. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 45% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, wooden furniture treatments imports surged to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 32% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X tons), distantly followed by the Philippines (X tons), Vietnam (X tons), Malaysia (X tons) and Singapore (X tons) were the major importers of polishes and creams for wooden furniture and floors, together generating 94% of total imports. Indonesia (X tons) and Cambodia (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +44.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Vietnam ($X) and Thailand ($X) were the countries with the highest levels of imports in 2022, with a combined 70% share of total imports. Singapore, Malaysia, Indonesia and Cambodia lagged somewhat behind, together accounting for a further 29%.

Cambodia, with a CAGR of +37.3%, saw the highest growth rate of 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, growing by 15% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2019 an increase of 18%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Thailand ($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 (+10.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform