Asia: Market for Upholstered Seats With Metal Frames 2024

Market Size for Upholstered Seats With Metal Frames in Asia

After three years of growth, the Asian metal frame upholstered seat market decreased by -15.5% to $X in 2021. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then shrank rapidly in the following year.

Production of Upholstered Seats With Metal Frames in Asia

In value terms, metal frame upholstered seat production reduced modestly to $X in 2021 estimated in export price. The total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -7.9% against 2019 indices. The growth pace was the most rapid in 2018 when the production volume increased by 43% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Upholstered Seats With Metal Frames

Exports in Asia

In 2021, overseas shipments of upholstered seats with metal frames increased by 19% to X units, rising for the fourth year in a row after three years of decline. In general, exports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 497% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, metal frame upholstered seat exports soared to $X in 2021. Over the period under review, exports showed prominent growth. The pace of growth was the most pronounced in 2020 with an increase of 30%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

China (X units) represented roughly 98% of total exports in 2021.

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.

In China, metal frame upholstered seat exports expanded at an average annual rate of +5.2% over the period from 2012-2021.

Export Prices by Country

The export price in Asia stood at $X per unit in 2021, growing by 5.1% against the previous year. In general, the export price, however, saw a slight downturn. The pace of growth appeared the most rapid in 2016 when the export price increased by 167% against the previous year. The level of export peaked 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

In 2021, approx. X units of upholstered seats with metal frames were imported in Asia; picking up by 22% against the previous year. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 48%. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, metal frame upholstered seat imports soared to $X in 2021. Total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +85.2% against 2017 indices. The pace of growth appeared the most rapid in 2018 with an increase of 40%. The level of import peaked in 2021 and is likely to see steady growth in years to come.

Imports by Country

In 2021, Japan (X units) represented the largest importer of upholstered seats with metal frames, making up 38% of total imports. The United Arab Emirates (X units) held the second position in the ranking, followed by South Korea (X units), Thailand (X units), Vietnam (X units) and Taiwan (Chinese) (X units). All these countries together held approx. 35% share of total imports. Israel (X units), Kazakhstan (X units), Indonesia (X units), Malaysia (X units) and Kuwait (X units) held a relatively small share of total imports.

Imports into Japan decreased at an average annual rate of -1.7% from 2012 to 2021. At the same time, Vietnam (+19.1%), Malaysia (+16.1%), Israel (+14.8%), Taiwan (Chinese) (+8.7%), Kuwait (+7.6%), Kazakhstan (+7.0%), Thailand (+5.3%) and the United Arab Emirates (+4.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia, 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. While the share of Vietnam (+4.8 p.p.), Israel (+2.8 p.p.), Taiwan (Chinese) (+2.5 p.p.), the United Arab Emirates (+2.4 p.p.) and Thailand (+2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Korea (-6.4 p.p.) and Japan (-10 p.p.) displayed negative dynamics. 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 were Japan ($X), the United Arab Emirates ($X) and Vietnam ($X), with a combined 46% share of total imports. These countries were followed by South Korea, Israel, Thailand, Taiwan (Chinese), Kuwait, Indonesia, Kazakhstan and Malaysia, which together accounted for a further 25%.

Among the main importing countries, Israel, with a CAGR of +21.2%, recorded the highest rates of growth with regard to the value of imports, 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 amounted to $X per unit, increasing by 3.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.1%. The pace of growth was the most pronounced in 2020 when the import price increased by 11%. The level of import peaked in 2021 and is likely to see gradual growth in years to come.

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 Israel ($X per unit), while Taiwan (Chinese) ($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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