Eastern Asia: Wooden Frame Market 2024

Wooden Frame Market Size in Eastern Asia

The East Asian wooden frame market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, continues to indicate a perceptible reduction. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Wooden Frame Production in Eastern Asia

In value terms, wooden frame production totaled $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a mild reduction. The growth pace was the most rapid in 2018 when the production volume increased by 14% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Wooden Frame Exports

Exports in Eastern Asia

In 2021, exports of wooden frames for paintings, photographs, mirrors or similar objects in Eastern Asia dropped slightly to X units, remaining constant against 2020. The total export volume increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 60% against the previous year. Over the period under review, the exports attained the maximum at X units in 2020, and then declined in the following year.

In value terms, wooden frame exports rose significantly to $X in 2021. The total export value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when exports increased by 19%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The biggest shipments were from China (X units), together amounting to 100% of total export.

China was also the fastest-growing in terms of the wooden frames for paintings, photographs, mirrors or similar objects exports, with a CAGR of +2.0% from 2012 to 2021. From 2012 to 2021, the share of China increased by +2.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, wooden frame exports increased at an average annual rate of +2.0% over the period from 2012-2021.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, surging by 11% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the export price increased by 50% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 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 -0.1% per year.

Wooden Frame Imports

Imports in Eastern Asia

After two years of decline, purchases abroad of wooden frames for paintings, photographs, mirrors or similar objects increased by 21% to X units in 2021. Over the period under review, imports, however, showed a abrupt contraction. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, wooden frame imports reached $X in 2021. Overall, imports, however, saw a pronounced slump. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Japan was the largest importer of wooden frames for paintings, photographs, mirrors or similar objects in Eastern Asia, with the volume of imports reaching X units, which was near 64% of total imports in 2021. It was distantly followed by South Korea (X units), Taiwan (Chinese) (X units) and Hong Kong SAR (X units), together generating a 33% share of total imports. China (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to wooden frame imports into Japan stood at -5.5%. At the same time, China (+16.8%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +16.8% from 2012-2021. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, South Korea (-1.1%) and Hong Kong SAR (-16.1%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+5.7 p.p.), South Korea (+4.4 p.p.) and China (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Hong Kong SAR (-12.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported wooden frames for paintings, photographs, mirrors or similar objects in Eastern Asia, comprising 69% of total imports. The second position in the ranking was taken by South Korea ($X), with a 12% share of total imports. It was followed by Hong Kong SAR, with a 6.9% share.

In Japan, wooden frame imports shrank by an average annual rate of -5.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+3.5% per year) and Hong Kong SAR (-9.6% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, dropping by -5.4% against the previous year. Over the last nine years, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2014 when the import price increased by 9.5%. Over the period under review, import prices hit record highs at $X per unit in 2020, and then contracted in the following year.

Prices varied noticeably country of destination: the country with the highest price was China ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :