Asia-Pacific: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in Asia-Pacific

The Asia-Pacific wooden office furniture market expanded markedly to $X in 2021, surging by 5.4% against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Wooden Office Furniture Production in Asia-Pacific

In value terms, wooden office furniture production rose significantly to $X in 2021 estimated in export price. Over the period under review, production recorded a slight increase. The pace of growth appeared the most rapid in 2016 when the production volume increased by 14%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Wooden Office Furniture Exports

Exports in Asia-Pacific

In 2021, approx. X units of wooden furniture of a kind used in offices were exported in Asia-Pacific; surging by 13% compared with 2020. The total export volume increased at an average annual rate of +5.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 15%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, wooden office furniture exports soared to $X in 2021. The total export value increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when exports increased by 27%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China prevails in exports structure, recording X units, which was approx. 84% of total exports in 2021. It was distantly followed by Vietnam (X units) and Malaysia (X units), together making up an 11% share of total exports. Indonesia (X units) held a relatively small share of total exports.

Exports from China increased at an average annual rate of +8.0% from 2012 to 2021. At the same time, Vietnam (+18.5%) and Indonesia (+4.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +18.5% from 2012-2021. By contrast, Malaysia (-9.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Vietnam increased by +14 and +3.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest wooden office furniture supplier in Asia-Pacific, comprising 80% of total exports. The second position in the ranking was taken by Vietnam ($X), with an 8.4% share of total exports. It was followed by Malaysia, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +5.4%. In the other countries, the average annual rates were as follows: Vietnam (+18.7% per year) and Malaysia (-9.0% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, increasing by 6.1% against the previous year. Over the period under review, the export price, however, saw a mild descent. The pace of growth was the most pronounced in 2013 when the export price increased by 11%. The level of export peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

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 ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.2%), while the other leaders experienced mixed trends in the export price figures.

Wooden Office Furniture Imports

Imports in Asia-Pacific

In 2021, supplies from abroad of wooden furniture of a kind used in offices was finally on the rise to reach X units after two years of decline. Total imports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +4.7% 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 2017 when imports increased by 28%. The volume of import peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, wooden office furniture imports rose notably to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 14% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, South Korea (X units), distantly followed by Australia (X units), the Philippines (X units), Japan (X units), India (X units) and Malaysia (X units) were the major importers of wooden furniture of a kind used in offices, together committing 79% of total imports. Hong Kong SAR (X units), Indonesia (X units), Singapore (X units), New Zealand (X units), Taiwan (Chinese) (X units) and China (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Indonesia (with a CAGR of +20.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wooden office furniture importing markets in Asia-Pacific were South Korea ($X), Australia ($X) and India ($X), together comprising 49% of total imports. Japan, Malaysia, the Philippines, Hong Kong SAR, China, Singapore, Indonesia, New Zealand and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 44%.

Malaysia, with a CAGR of +13.5%, recorded the highest growth rate of 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

In 2021, the import price in Asia-Pacific amounted to $X per unit, increasing by 3.5% against the previous year. Overall, the import price, however, saw a perceptible slump. The growth pace was the most rapid in 2016 an increase of 9.2%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 China ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+11.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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