Latin America and the Caribbean: Market for Upholstered Seats With Wooden Frames 2024

Market Size for Upholstered Seats With Wooden Frames in Latin America and the Caribbean

In 2022, the Latin American wooden frame upholstered seat market decreased by -2.5% to $X, falling for the fifth year in a row after two years of growth. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Production of Upholstered Seats With Wooden Frames in Latin America and the Caribbean

In value terms, wooden frame upholstered seat production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by 20% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Upholstered Seats With Wooden Frames

Exports in Latin America and the Caribbean

In 2022, overseas shipments of upholstered seats with wooden frames increased by 5.6% to X units, rising for the fifth year in a row after two years of decline. Over the period under review, exports saw buoyant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 117%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, wooden frame upholstered seat exports surged to $X in 2022. Overall, exports saw prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 84% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

Mexico represented the major exporter of upholstered seats with wooden frames in Latin America and the Caribbean, with the volume of exports amounting to X units, which was near 86% of total exports in 2022. It was distantly followed by Brazil (X units), comprising an 11% share of total exports.

Mexico was also the fastest-growing in terms of the upholstered seats with wooden frames exports, with a CAGR of +12.2% from 2012 to 2022. At the same time, Brazil (+10.1%) displayed positive paces of growth. From 2012 to 2022, the share of Mexico increased by +4.1 percentage points.

In value terms, Mexico ($X) remains the largest wooden frame upholstered seat supplier in Latin America and the Caribbean, comprising 91% of total exports. The second position in the ranking was held by Brazil ($X), with a 6.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico amounted to +17.0%.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, surging by 24% against the previous year. Export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 an increase of 26% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while Brazil stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+5.9%).

Imports of Upholstered Seats With Wooden Frames

Imports in Latin America and the Caribbean

In 2022, the amount of upholstered seats with wooden frames imported in Latin America and the Caribbean reduced to X units, shrinking by -12.5% on the year before. Total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 66% against the previous year. As a result, imports reached the peak of X units, and then fell in the following year.

In value terms, wooden frame upholstered seat imports contracted slightly to $X in 2022. Total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 68% against the previous year. As a result, imports attained the peak of $X, and then reduced slightly in the following year.

Imports by Country

In 2022, Chile (X units) and Mexico (X units) were the main importers of upholstered seats with wooden frames in Latin America and the Caribbean, together finishing at approx. 56% of total imports. Brazil (X units) ranks next in terms of the total imports with an 8.7% share, followed by Peru (5.4%) and Uruguay (4.9%). The following importers - Colombia (X units), Argentina (X units), Costa Rica (X units), the Dominican Republic (X units), Ecuador (X units) and Panama (X units) - together made up 14% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Panama (with a CAGR of +34.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wooden frame upholstered seat importing markets in Latin America and the Caribbean were Mexico ($X), Chile ($X) and Peru ($X), together accounting for 60% of total imports. Uruguay, the Dominican Republic, Costa Rica, Panama, Colombia, Ecuador, Brazil and Argentina lagged somewhat behind, together comprising a further 23%.

Among the main importing countries, Panama, with a CAGR of +35.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, growing by 9.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2013 an increase of 11% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Dominican Republic ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+6.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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