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

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

The Asia-Pacific wooden frame upholstered seat market surged to $X in 2022, increasing by 16% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Upholstered Seats With Wooden Frames in Asia-Pacific

In value terms, wooden frame upholstered seat production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period 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 2017 with an increase of 16%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Upholstered Seats With Wooden Frames

Exports in Asia-Pacific

After two years of growth, shipments abroad of upholstered seats with wooden frames decreased by -19% to X units in 2022. Total exports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +4.4% 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 +47.3% against 2016 indices. The growth pace was the most rapid in 2021 when exports increased by 24% against the previous year. As a result, the exports attained the peak of X units, and then fell rapidly in the following year.

In value terms, wooden frame upholstered seat exports reduced rapidly to $X in 2022. Overall, exports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 32%. As a result, the exports attained the peak of $X, and then fell rapidly in the following year.

Exports by Country

China was the main exporting country with an export of around X units, which recorded 67% of total exports. It was distantly followed by Vietnam (X units), committing a 30% share of total exports.

Exports from China increased at an average annual rate of +1.1% from 2012 to 2022. At the same time, Vietnam (+35.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +35.4% from 2012-2022. While the share of Vietnam (+27 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-25.2 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest wooden frame upholstered seat supplier in Asia-Pacific, comprising 63% of total exports. The second position in the ranking was held by Vietnam ($X), with a 31% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +3.2%.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, rising by 2.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The growth pace was the most rapid in 2021 when the export price increased by 6.8% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while China stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.1%).

Imports of Upholstered Seats With Wooden Frames

Imports in Asia-Pacific

In 2022, approx. X units of upholstered seats with wooden frames were imported in Asia-Pacific; reducing by -12.7% on the previous year. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 13%. As a result, imports reached the peak of X units, and then dropped in the following year.

In value terms, wooden frame upholstered seat imports shrank modestly to $X in 2022. The total import value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 22% against the previous year. As a result, imports reached the peak of $X, and then fell slightly in the following year.

Imports by Country

Australia (X units) and Japan (X units) represented roughly 54% of total imports in 2022. South Korea (X units) ranks next in terms of the total imports with a 9.2% share, followed by Taiwan (Chinese) (6.3%) and Hong Kong SAR (5.8%). New Zealand (X units), Thailand (X units), Malaysia (X units), China (X units), the Philippines (X units), India (X units), Singapore (X units) and Indonesia (X units) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of +15.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wooden frame upholstered seat importing markets in Asia-Pacific were Australia ($X), Japan ($X) and South Korea ($X), with a combined 65% share of total imports. China, New Zealand, Taiwan (Chinese), Hong Kong SAR, Indonesia, Thailand, Singapore, Malaysia, India and the Philippines lagged somewhat behind, together comprising a further 33%.

The Philippines, with a CAGR of +21.2%, recorded 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

In 2022, the import price in Asia-Pacific amounted to $X per unit, picking up by 11% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :