Asia: Wooden Furniture Treatments Market 2024

Wooden Furniture Treatments Market Size in Asia

The Asian wooden furniture treatments market rose to $X in 2022, picking up by 2.4% against the previous year. Over the period under review, consumption, however, recorded a mild downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Wooden Furniture Treatments Production in Asia

In value terms, wooden furniture treatments production amounted to $X in 2022 estimated in export price. Overall, production saw a slight curtailment. The most prominent rate of growth was recorded in 2016 when the production volume increased by 20% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Wooden Furniture Treatments Exports

Exports in Asia

In 2022, shipments abroad of polishes and creams for wooden furniture and floors decreased by -10.2% to X tons, falling for the third consecutive year after three years of growth. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 39% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, wooden furniture treatments exports contracted to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 31%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons), Turkey (X tons) and Saudi Arabia (X tons) represented roughly 71% of total exports in 2022. India (X tons) ranks next in terms of the total exports with a 7.6% share, followed by the United Arab Emirates (5.1%). Hong Kong SAR (X tons) and Thailand (X tons) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by India (with a CAGR of +25.1%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Saudi Arabia ($X) and Turkey ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 73% share of total exports. Hong Kong SAR, India, Thailand and the United Arab Emirates lagged somewhat behind, together accounting for a further 13%.

India, with a CAGR of +9.2%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, picking up by 5.1% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the export price increased by 19% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

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 Hong Kong SAR ($X per ton), while the United Arab Emirates ($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 Asia

After seven years of decline, supplies from abroad of polishes and creams for wooden furniture and floors increased by 11% to X tons in 2022. Over the period under review, imports, however, saw a perceptible slump. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, wooden furniture treatments imports rose remarkably to $X in 2022. In general, imports, however, showed a noticeable setback. The pace of growth was the most pronounced in 2014 with an increase of 9.4%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons), distantly followed by Hong Kong SAR (X tons), Thailand (X tons), Oman (X tons), the Philippines (X tons) and the United Arab Emirates (X tons) were the main importers of polishes and creams for wooden furniture and floors, together creating 53% of total imports. Turkey (X tons), South Korea (X tons), Vietnam (X tons), Georgia (X tons), Israel (X tons), Japan (X tons) and Bahrain (X tons) took a little share of total imports.

Imports into China decreased at an average annual rate of -1.9% from 2012 to 2022. At the same time, Oman (+19.1%), Thailand (+10.1%), Hong Kong SAR (+6.4%), South Korea (+3.0%) and Bahrain (+2.1%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in Asia, with a CAGR of +19.1% from 2012-2022. Israel and Vietnam experienced a relatively flat trend pattern. By contrast, Georgia (-2.7%), the Philippines (-3.8%), Turkey (-4.7%), the United Arab Emirates (-7.2%) and Japan (-9.4%) illustrated a downward trend over the same period. Hong Kong SAR (+6.5 p.p.), Thailand (+5.7 p.p.), Oman (+5.2 p.p.), China (+4.5 p.p.) and South Korea (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates and Japan saw its share reduced by -1.6% and -2.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported polishes and creams for wooden furniture and floors in Asia, comprising 36% of total imports. The second position in the ranking was taken by Japan ($X), with a 6.6% share of total imports. It was followed by Hong Kong SAR, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +3.1%. In the other countries, the average annual rates were as follows: Japan (-4.2% per year) and Hong Kong SAR (+4.5% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, reducing by -4.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2019 an increase of 10% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2021, and then shrank modestly 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 Japan ($X per ton), while Thailand ($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

Frequently Asked Questions (FAQ) :