Asia-Pacific: Market for Upholstered Seats With Metal Frames 2024

Market Size for Upholstered Seats With Metal Frames in Asia-Pacific

In 2021, after three years of growth, there was significant decline in the Asia-Pacific metal frame upholstered seat market, when its value decreased by -24.6% to $X. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2020, and then fell markedly in the following year.

Production of Upholstered Seats With Metal Frames in Asia-Pacific

In value terms, metal frame upholstered seat production dropped to $X in 2021 estimated in export price. The total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +84.4% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 56%. Over the period under review, production attained the maximum level at $X in 2020, and then fell in the following year.

Exports of Upholstered Seats With Metal Frames

Exports in Asia-Pacific

In 2021, shipments abroad of upholstered seats with metal frames increased by 19% to X units, rising for the fourth consecutive year after three years of decline. In general, exports posted a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of 496% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, metal frame upholstered seat exports soared to $X in 2021. Over the period under review, exports posted a remarkable increase. The pace of growth was the most pronounced in 2020 with an increase of 30%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

The shipments of the one major exporters of upholstered seats with metal frames, namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the upholstered seats with metal frames exports, with a CAGR of +6.5% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest metal frame upholstered seat supplier in Asia-Pacific.

From 2012 to 2021, the average annual growth rate of value in China totaled +5.2%.

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, with an increase of 5.1% against the previous year. Over the period under review, the export price, however, saw a mild contraction. The pace of growth appeared the most rapid in 2016 an increase of 167% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -1.3% per year.

Imports of Upholstered Seats With Metal Frames

Imports in Asia-Pacific

In 2021, the amount of upholstered seats with metal frames imported in Asia-Pacific totaled X units, picking up by 14% compared with 2020. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 38%. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, metal frame upholstered seat imports soared to $X in 2021. Total imports indicated a resilient 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. The most prominent rate of growth was recorded in 2018 with an increase of 37%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Japan (X units) represented the key importer of upholstered seats with metal frames, constituting 41% of total imports. Australia (X units) took the second position in the ranking, distantly followed by South Korea (X units), Thailand (X units), Vietnam (X units) and Taiwan (Chinese) (X units). All these countries together took approx. 45% share of total imports. The following importers - New Zealand (X units) and Indonesia (X units) - each amounted to a 3.8% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to metal frame upholstered seat imports into Japan stood at -1.7%. At the same time, Vietnam (+19.1%), Taiwan (Chinese) (+8.7%), New Zealand (+8.1%), Thailand (+5.3%) and Australia (+4.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +19.1% from 2012-2021. Indonesia experienced a relatively flat trend pattern. By contrast, South Korea (-5.5%) illustrated a downward trend over the same period. Vietnam (+5.3 p.p.), Australia (+4.1 p.p.), Taiwan (Chinese) (+2.7 p.p.) and Thailand (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while South Korea and Japan saw its share reduced by -6.8% and -10.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest metal frame upholstered seat importing markets in Asia-Pacific were Japan ($X), Australia ($X) and Vietnam ($X), together comprising 60% of total imports. These countries were followed by South Korea, New Zealand, Thailand, Taiwan (Chinese) and Indonesia, which together accounted for a further 20%.

Taiwan (Chinese), with a CAGR of +15.7%, saw 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 unit in 2021, increasing by 6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.7%. The pace of growth appeared the most rapid in 2016 an increase of 12%. Over the period under review, import prices reached the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was New Zealand ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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