ASEAN: Market for Upholstered Seats With Metal Frames 2024

Market Size for Upholstered Seats With Metal Frames in ASEAN

After four years of growth, the ASEAN metal frame upholstered seat market decreased by -2.2% to $X in 2021. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then dropped modestly in the following year.

Production of Upholstered Seats With Metal Frames in ASEAN

In value terms, metal frame upholstered seat production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when the production volume increased by 18%. As a result, production attained the peak level of $X, and then reduced in the following year.

Exports of Upholstered Seats With Metal Frames

Exports in ASEAN

In 2021, overseas shipments of upholstered seats with metal frames increased by 18% to X units, rising for the fourth year in a row after two years of decline. In general, exports saw resilient growth. The pace of growth was the most pronounced in 2020 with an increase of 66%. The volume of export peaked in 2021 and is likely to continue growth in years to come.

In value terms, metal frame upholstered seat exports soared to $X in 2021. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 69%. The level of export peaked in 2021 and is likely to see steady growth in the immediate term.

Exports by Country

Vietnam dominates exports structure, reaching X units, which was near 78% of total exports in 2021. Malaysia (X units) ranks second in terms of the total exports with a 9.8% share, followed by Indonesia (6.2%). Thailand (X units) held a relatively small share of total exports.

Vietnam was also the fastest-growing in terms of the upholstered seats with metal frames exports, with a CAGR of +54.2% from 2012 to 2021. At the same time, Indonesia (+2.8%) displayed positive paces of growth. By contrast, Malaysia (-4.4%) and Thailand (-4.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam increased by +72 percentage points.

In value terms, Vietnam ($X) remains the largest metal frame upholstered seat supplier in ASEAN, comprising 81% of total exports. The second position in the ranking was taken by Malaysia ($X), with an 8.7% share of total exports. It was followed by Indonesia, with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Vietnam amounted to +66.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+4.5% per year) and Indonesia (+7.0% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, increasing by 5.9% against the previous year. Overall, the export price enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2016 when the export price increased by 32%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Vietnam ($X per unit) and Thailand ($X per unit), while Indonesia ($X per unit) and Malaysia ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+12.1%), while the other leaders experienced more modest paces of growth.

Imports of Upholstered Seats With Metal Frames

Imports in ASEAN

In 2021, metal frame upholstered seat imports in ASEAN skyrocketed to X units, with an increase of 28% compared with 2020. Overall, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2017 when imports increased by 39% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, metal frame upholstered seat imports rose slightly to $X in 2021. Over the period under review, imports enjoyed buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 47% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

Thailand (X units) and Vietnam (X units) represented roughly 68% of total imports in 2021. It was distantly followed by Indonesia (X units), Malaysia (X units), Singapore (X units) and the Philippines (X units), together making up a 28% share of total imports. Cambodia (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +19.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constitutes the largest market for imported upholstered seats with metal frames in ASEAN, comprising 46% of total imports. The second position in the ranking was held by Thailand ($X), with an 18% share of total imports. It was followed by Indonesia, with a 12% share.

In Vietnam, metal frame upholstered seat imports increased at an average annual rate of +12.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+11.6% per year) and Indonesia (+0.7% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per unit, which is down by -20.9% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by 21%. As a result, import price reached the peak level of $X per unit, and then fell sharply in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cambodia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+8.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform