Australia: Seat Market 2024

Seat Market Size in Australia

The Australian seat market surged to $X in 2021, with an increase of 29% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +5.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Seat Exports

Exports from Australia

In 2021, exports of seats from Australia expanded remarkably to X tons, picking up by 12% against the previous year. Overall, exports, however, saw a perceptible curtailment. The pace of growth was the most pronounced in 2019 with an increase of 43%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, seat exports rose rapidly to $X in 2021. Over the period under review, exports, however, showed a slight decrease. The pace of growth was the most pronounced in 2019 when exports increased by 60% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

New Zealand (X tons), the United States (X tons) and Singapore (X tons) were the main destinations of seat exports from Australia, with a combined 43% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +4.7%), while the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), New Zealand ($X) and Singapore ($X) constituted the largest markets for seat exported from Australia worldwide, together accounting for 67% of total exports.

Among the main countries of destination, New Zealand, with a CAGR of +10.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average seat export price amounted to $X per ton, falling by -3.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2015 when the average export price increased by 21%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+42.2%), while the prices for the other major destinations experienced more modest paces of growth.

Seat Imports

Imports into Australia

In 2021, overseas purchases of seats increased by 17% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, seat imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +30.5% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest seat supplier to Australia, with a 58% share of total imports. Moreover, seat imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold. The third position in this ranking was held by Malaysia (X tons), with a 1.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+4.1% per year) and Malaysia (-2.1% per year).

In value terms, China ($X) constituted the largest supplier of seats to Australia, comprising 76% of total imports. The second position in the ranking was held by Vietnam ($X), with a 6.1% share of total imports. It was followed by Italy, with a 3% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+10.8% per year) and Italy (+2.2% per year).

Import Prices by Country

In 2021, the average seat import price amounted to $X per ton, rising by 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. The pace of growth was the most pronounced in 2018 an increase of 29%. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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