Eastern Asia: Market for Upholstered Seats With Wooden Frames 2024

Market Size for Upholstered Seats With Wooden Frames in Eastern Asia

The East Asian wooden frame upholstered seat market skyrocketed to $X in 2022, surging by 30% against the previous year. The total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Production of Upholstered Seats With Wooden Frames in Eastern Asia

In value terms, wooden frame upholstered seat production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 12% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Exports of Upholstered Seats With Wooden Frames

Exports in Eastern Asia

In 2022, after two years of growth, there was significant decline in overseas shipments of upholstered seats with wooden frames, when their volume decreased by -24.8% to X units. The total export volume increased at an average annual rate of +1.1% 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 2018 when exports increased by 19% against the previous year. The volume of export peaked at X units in 2021, and then declined significantly in the following year.

In value terms, wooden frame upholstered seat exports shrank dramatically to $X in 2022. The total export value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 29%. As a result, the exports reached the peak of $X, and then declined rapidly in the following year.

Exports by Country

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

China was also the fastest-growing in terms of the upholstered seats with wooden frames exports, with a CAGR of +1.1% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest wooden frame upholstered seat supplier in Eastern Asia.

In China, wooden frame upholstered seat exports expanded at an average annual rate of +3.2% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, rising by 7.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2021 when the export price increased by 14%. Over the period under review, the export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +2.1% per year.

Imports of Upholstered Seats With Wooden Frames

Imports in Eastern Asia

In 2022, the amount of upholstered seats with wooden frames imported in Eastern Asia declined to X units, reducing by -12.4% against the previous year. Total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -16.8% against 2019 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 14% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, wooden frame upholstered seat imports shrank to $X in 2022. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 11%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2022, Japan (X units) represented the largest importer of upholstered seats with wooden frames, comprising 47% of total imports. South Korea (X units) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (14%), Hong Kong SAR (13%) and China (6.5%).

Japan experienced a relatively flat trend pattern with regard to volume of imports of upholstered seats with wooden frames. At the same time, Taiwan (Chinese) (+13.4%), South Korea (+9.2%), China (+5.2%) and Hong Kong SAR (+2.8%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +13.4% from 2012-2022. From 2012 to 2022, the share of South Korea and Taiwan (Chinese) increased by +9 and +8.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported upholstered seats with wooden frames in Eastern Asia, comprising 47% of total imports. The second position in the ranking was held by South Korea ($X), with a 20% share of total imports. It was followed by China, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms 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 China (+8.8% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, growing by 7.8% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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