Asia: Metal Domestic Furniture Market 2024

Metal Domestic Furniture Market Size in Asia

The Asian metal domestic furniture market skyrocketed to $X in 2022, increasing by X% against the previous year. The total consumption indicated noticeable growth 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. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in years to come.

Metal Domestic Furniture Production in Asia

In value terms, metal domestic furniture production reached $X in 2022 estimated in export price. The total production indicated a perceptible 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 2017 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Metal Domestic Furniture Exports

Exports in Asia

In 2022, after seven years of growth, there was significant decline in overseas shipments of metal furniture, when their volume decreased by X% to X tons. Total exports indicated a moderate increase 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. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then reduced markedly in the following year.

In value terms, metal domestic furniture exports dropped to $X in 2022. Total exports indicated a measured increase 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, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

China dominates exports structure, finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by Vietnam (X tons), constituting a X% share of total exports. Taiwan (Chinese) (X tons) and Turkey (X tons) held a minor share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, Vietnam (X%), Turkey (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. Vietnam (X p.p.) and Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest metal domestic furniture supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

In China, metal domestic furniture exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Turkey ($X per ton) was amongst the lowest.

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

Metal Domestic Furniture Imports

Imports in Asia

In 2022, the amount of metal furniture imported in Asia fell to X tons, declining by X% on the previous year. The total import volume 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. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, metal domestic furniture imports reduced to $X in 2022. Total imports indicated a tangible increase 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, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, Japan (X tons), distantly followed by South Korea (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons), Indonesia (X tons) and Taiwan (Chinese) (X tons) represented the key importers of metal furniture, together generating X% of total imports. The following importers - India (X tons), Malaysia (X tons), Israel (X tons), Thailand (X tons), Singapore (X tons), the Philippines (X tons) and Iraq (X tons) - together made up X% of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of metal furniture. At the same time, India (X%), Malaysia (X%), Taiwan (Chinese) (X%), Israel (X%), South Korea (X%), the Philippines (X%), Thailand (X%), Indonesia (X%), Singapore (X%) and Iraq (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea, Taiwan (Chinese), India and Malaysia increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported metal furniture in Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Japan stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, shrinking by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, 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

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