ASEAN: Wooden Frame Market 2024

Wooden Frame Market Size in ASEAN

In 2021, the ASEAN wooden frame market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a noticeable descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Wooden Frame Production in ASEAN

In value terms, wooden frame production soared to $X in 2021 estimated in export price. In general, production, however, showed a deep reduction. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Wooden Frame Exports

Exports in ASEAN

Wooden frame exports shrank significantly to X units in 2021, waning by -18.1% against the previous year's figure. Over the period under review, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2015 when exports increased by 17%. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, wooden frame exports contracted to $X in 2021. In general, exports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2015 when exports increased by 16%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Indonesia (X units) represented the major exporter of wooden frames for paintings, photographs, mirrors or similar objects, committing 70% of total exports. Vietnam (X units) ranks second in terms of the total exports with a 17% share, followed by Malaysia (5.9%). The following exporters - the Philippines (X units) and Cambodia (X units) - each resulted at a 5.7% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to wooden frame exports from Indonesia stood at -5.5%. At the same time, Cambodia (+58.1%), the Philippines (+24.0%) and Vietnam (+2.5%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +58.1% from 2012-2021. By contrast, Malaysia (-24.1%) illustrated a downward trend over the same period. Indonesia (+27 p.p.), Vietnam (+12 p.p.), Cambodia (+2.8 p.p.) and the Philippines (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -20.4% from 2012 to 2021, respectively.

In value terms, Indonesia ($X) remains the largest wooden frame supplier in ASEAN, comprising 60% of total exports. The second position in the ranking was held by Vietnam ($X), with a 15% share of total exports. It was followed by Malaysia, with a 4.1% share.

In Indonesia, wooden frame exports decreased by an average annual rate of -3.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+0.4% per year) and Malaysia (-26.2% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, growing by 5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2020 an increase of 12%. Over the period under review, the export prices attained the peak figure in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was the Philippines ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.0%), while the other leaders experienced a decline in the export price figures.

Wooden Frame Imports

Imports in ASEAN

Wooden frame imports skyrocketed to X units in 2021, jumping by 26% compared with the previous year. Over the period under review, imports continue to indicate strong growth. The pace of growth was the most pronounced in 2019 when imports increased by 81%. The volume of import peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, wooden frame imports surged to $X in 2021. Overall, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 38%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

Malaysia represented the major importing country with an import of around X units, which reached 45% of total imports. It was distantly followed by Cambodia (X units), Vietnam (X units) and Singapore (X units), together generating a 45% share of total imports. The following importers - the Philippines (X units) and Myanmar (X units) - each reached a 7.8% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +77.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Cambodia ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 67% share of total imports.

In terms of the main importing countries, Cambodia, with a CAGR of +64.4%, recorded the highest growth rate of the value of imports, 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 unit in 2021, surging by 3% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 33% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Myanmar ($X per unit), while Cambodia ($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 (+27.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform