Asia: Market for Upholstered Seats With Wooden Frames 2024

Market Size for Upholstered Seats With Wooden Frames in Asia

In 2022, the Asian wooden frame upholstered seat market increased by 9.9% to $X for the first time since 2019, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Upholstered Seats With Wooden Frames in Asia

In value terms, wooden frame upholstered seat production dropped slightly to $X in 2022 estimated in export price. The total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.1% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 29%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Upholstered Seats With Wooden Frames

Exports in Asia

After two years of growth, overseas shipments of upholstered seats with wooden frames decreased by -18.8% to X units in 2022. Total exports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +4.5% 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 +48.9% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 25% against the previous year. As a result, the exports attained the peak of X units, and then contracted remarkably in the following year.

In value terms, wooden frame upholstered seat exports fell remarkably to $X in 2022. Over the period under review, exports, however, continue to indicate a prominent expansion. The growth pace was the most rapid in 2021 with an increase of 33% against the previous year. As a result, the exports attained the peak of $X, and then declined rapidly in the following year.

Exports by Country

In 2022, China (X units) represented the key exporter of upholstered seats with wooden frames, making up 65% of total exports. It was distantly followed by Vietnam (X units), creating a 29% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to wooden frame upholstered seat exports from China stood at +1.1%. At the same time, Vietnam (+35.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, 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 (-25.9 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest wooden frame upholstered seat supplier in Asia, comprising 60% of total exports. The second position in the ranking was held by Vietnam ($X), with a 29% share of total exports.

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

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, increasing by 3.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2016 when the export price increased by 6.3%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

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

In 2022, imports of upholstered seats with wooden frames in Asia dropped to X units, waning by -14.8% compared with 2021. The total import volume increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 30% against the previous year. As a result, imports attained the peak of X units, and then reduced in the following year.

In value terms, wooden frame upholstered seat imports fell to $X in 2022. The total import value increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 28% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, Japan (X units), distantly followed by the United Arab Emirates (X units), South Korea (X units), Taiwan (Chinese) (X units), Hong Kong SAR (X units) and Israel (X units) represented the largest importers of upholstered seats with wooden frames, together mixing up 60% of total imports. Qatar (X units), Thailand (X units), Malaysia (X units), Iraq (X units), China (X units), Kuwait (X units) and the Philippines (X units) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +15.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported upholstered seats with wooden frames in Asia, comprising 22% of total imports. The second position in the ranking was taken by South Korea ($X), with a 9.2% share of total imports. It was followed by the United Arab Emirates, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value in Japan was relatively modest. In the other countries, the average annual rates were as follows: South Korea (+11.3% per year) and the United Arab Emirates (+6.5% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, with an increase of 10% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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

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