Eastern Asia: Market for Upholstered Seats With Metal Frames 2024

Market Size for Upholstered Seats With Metal Frames in Eastern Asia

The East Asian metal frame upholstered seat market shrank significantly to $X in 2021, waning by -64.3% against the previous year. In general, consumption saw a abrupt descent. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Production of Upholstered Seats With Metal Frames in Eastern Asia

In value terms, metal frame upholstered seat production contracted modestly to $X in 2021 estimated in export price. The total production indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +97.3% against 2016 indices. The growth pace was the most rapid in 2018 with an increase of 73% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced slightly in the following year.

Exports of Upholstered Seats With Metal Frames

Exports in Eastern Asia

In 2021, shipments abroad 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. Over the period under review, exports posted a resilient increase. The growth pace was the most rapid in 2018 when exports increased by 515% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, metal frame upholstered seat exports soared to $X in 2021. Overall, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2020 when exports increased by 28%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

The shipments of the one major exporters of upholstered seats with metal frames, namely China, represented more than two-thirds of total export.

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 Eastern Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +5.2%.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, surging by 5.2% against the previous year. Overall, the export price, however, recorded a mild curtailment. The most prominent rate of growth was recorded in 2016 when the export price increased by 170% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

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 Eastern Asia

Metal frame upholstered seat imports amounted to X units in 2021, with an increase of 5.6% compared with 2020 figures. Over the period under review, imports, however, recorded a slight slump. The pace of growth was the most pronounced in 2018 when imports increased by 51% against the previous year. 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 tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -9.5% against 2019 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 46%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Japan (X units) represented the main importer of upholstered seats with metal frames, committing 71% of total imports. It was distantly followed by South Korea (X units) and Taiwan (Chinese) (X units), together making up a 25% share of total imports. Hong Kong SAR (X units) followed a long way behind the leaders.

Imports into Japan decreased at an average annual rate of -1.7% from 2012 to 2021. At the same time, Taiwan (Chinese) (+8.7%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +8.7% from 2012-2021. By contrast, South Korea (-5.5%) and Hong Kong SAR (-7.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Taiwan (Chinese) increased by +5.8 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported upholstered seats with metal frames in Eastern Asia, comprising 54% of total imports. The second position in the ranking was held by South Korea ($X), with a 16% share of total imports. It was followed by Taiwan (Chinese), with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan stood at +2.6%. In the other countries, the average annual rates were as follows: South Korea (-2.4% per year) and Taiwan (Chinese) (+15.7% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, with an increase of 12% against the previous year. Over the last nine years, it increased at an average annual rate of +5.3%. The pace of growth appeared the most rapid in 2016 an increase of 15% against the previous year. Over the period under review, import prices attained the peak figure in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per unit), while Taiwan (Chinese) ($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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