Asia-Pacific: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in Asia-Pacific

The Asia-Pacific metal office furniture market fell to $X in 2022, declining by -2.4% against the previous year. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Metal Office Furniture Production in Asia-Pacific

In value terms, metal office furniture production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2018 when the production volume increased by 11% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Metal Office Furniture Exports

Exports in Asia-Pacific

Metal office furniture exports contracted slightly to X tons in 2022, waning by -1.5% compared with 2021 figures. The total export volume increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when exports increased by 14% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, metal office furniture exports expanded slightly to $X in 2022. The total export value increased at an average annual rate of +4.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 13%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

China dominates exports structure, amounting to X tons, which was approx. 83% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), committing a 7.6% share of total exports. Malaysia (X tons) and India (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +3.6% from 2012 to 2022. At the same time, Taiwan (Chinese) (+5.0%) and India (+4.6%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +5.0% from 2012-2022. By contrast, Malaysia (-4.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +5.4 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest metal office furniture supplier in Asia-Pacific, comprising 73% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 11% share of total exports. It was followed by Malaysia, with a 4.8% share.

In China, metal office furniture exports expanded at an average annual rate of +5.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+6.2% per year) and Malaysia (-2.5% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, rising by 6.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2013 when the export price increased by 12%. Over the period under review, the export prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.9%), while the other leaders experienced more modest paces of growth.

Metal Office Furniture Imports

Imports in Asia-Pacific

In 2022, approx. X tons of metal office furniture were imported in Asia-Pacific; waning by -13.3% against the previous year's figure. The total import volume increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 20% against the previous year. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, metal office furniture imports dropped to $X in 2022. Total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 +25.6% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 32% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

The purchases of the twelve major importers of metal office furniture, namely Indonesia, Singapore, Australia, Japan, Hong Kong SAR, Malaysia, South Korea, India, New Zealand, China, Democratic People's Republic of Korea and the Philippines, represented more than two-thirds of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Indonesia (with a CAGR of +15.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), Singapore ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 42% share of total imports.

Indonesia, with a CAGR of +16.7%, 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 Asia-Pacific stood at $X per ton in 2022, growing by 9.5% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2018 an increase of 12%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per ton), while Democratic People's Republic of Korea ($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 (+13.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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