Asia-Pacific: Seat Market 2025

Seat Market Size in Asia-Pacific

In 2021, the Asia-Pacific seat market decreased by -15% to $X for the first time since 2018, thus ending a two-year rising trend. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2020, and then declined markedly in the following year.

Seat Production in Asia-Pacific

In value terms, seat production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 12% against the previous year. As a result, production reached the peak level of $X, and then dropped in the following year.

Seat Exports

Exports in Asia-Pacific

In 2021, overseas shipments of seats increased by 19% to X tons, rising for the fourth year in a row after two years of decline. Total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +127.9% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 72%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, seat exports surged to $X in 2021. Total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +95.6% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, finishing at X tons, which was approx. 89% of total exports in 2021. It was distantly followed by Vietnam (X tons), generating a 5.6% share of total exports. Taiwan (Chinese) (X tons) held a little share of total exports.

Exports from China increased at an average annual rate of +5.9% from 2012 to 2021. At the same time, Vietnam (+14.7%) and Taiwan (Chinese) (+7.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +14.7% from 2012-2021. While the share of Vietnam (+2.9 p.p.) and China (+1.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest seat supplier in Asia-Pacific, comprising 78% of total exports. The second position in the ranking was held by Vietnam ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +6.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+23.1% per year) and Taiwan (Chinese) (+8.7% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, growing by 9.8% 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 2016 an increase of 25% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+7.3%), while the other leaders experienced more modest paces of growth.

Seat Imports

Imports in Asia-Pacific

In 2021, seat imports in Asia-Pacific surged to X tons, rising by 15% on 2020. The total import volume increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, seat imports soared to $X in 2021. Total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +52.5% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of seats, namely Japan, South Korea and Australia, represented more than half of total import. It was distantly followed by Taiwan (Chinese) (X tons) and Thailand (X tons), together constituting a 12% share of total imports. The following importers - Malaysia (X tons), India (X tons), Hong Kong SAR (X tons), Indonesia (X tons), Singapore (X tons), New Zealand (X tons), the Philippines (X tons) and China (X tons) - together made up 26% of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +11.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest seat importing markets in Asia-Pacific were Japan ($X), Australia ($X) and South Korea ($X), together accounting for 62% of total imports. These countries were followed by China, Taiwan (Chinese), New Zealand, Hong Kong SAR, India, Thailand, Singapore, Malaysia, Indonesia and the Philippines, which together accounted for a further 33%.

The Philippines, with a CAGR of +17.2%, recorded the highest rates of growth with regard to the value of imports, among 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 2021, growing by 6.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2018 an increase of 14%. The level of import peaked in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+10.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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