Malaysia: Wooden Furniture Treatments Market 2024

Wooden Furniture Treatments Market Size in Malaysia

The Malaysian wooden furniture treatments market declined to $X in 2022, falling by -2.2% against the previous year. Over the period under review, consumption saw a pronounced decline. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Wooden Furniture Treatments Production in Malaysia

In value terms, wooden furniture treatments production contracted slightly to $X in 2022 estimated in export price. Overall, production recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2015 when the production volume increased by 20%. Wooden furniture treatments production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Wooden Furniture Treatments Exports

Exports from Malaysia

In 2022, the amount of polishes and creams for wooden furniture and floors exported from Malaysia dropped to X tons, waning by -12.1% compared with 2021. Overall, exports, however, continue to indicate a tangible expansion. The most prominent rate of growth was recorded in 2017 with an increase of 307%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, wooden furniture treatments exports declined modestly to $X in 2022. In general, exports, however, saw a notable expansion. The pace of growth was the most pronounced in 2017 when exports increased by 305%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for wooden furniture treatments exports from Malaysia, with a 51% share of total exports. Moreover, wooden furniture treatments exports to the United States exceeded the volume sent to the second major destination, Saudi Arabia (X tons), fivefold. Vietnam (X tons) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +65.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+7.1% per year) and Vietnam (-0.4% per year).

In value terms, the United States ($X) remains the key foreign market for polishes and creams for wooden furniture and floors exports from Malaysia, comprising 54% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 12% share of total exports. It was followed by India, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +57.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-0.0% per year) and India (+20.7% per year).

Export Prices by Country

The average wooden furniture treatments export price stood at $X per ton in 2022, picking up by 12% against the previous year. Over the period under review, the export price, however, saw a mild slump. The pace of growth appeared the most rapid in 2015 an increase of 20% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Libya ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+1.3%), while the prices for the other major destinations experienced mixed trend patterns.

Wooden Furniture Treatments Imports

Imports into Malaysia

In 2022, the amount of polishes and creams for wooden furniture and floors imported into Malaysia contracted modestly to X tons, shrinking by -2.4% against the previous year. In general, imports recorded a perceptible descent. The pace of growth appeared the most rapid in 2018 when imports increased by 36%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, wooden furniture treatments imports rose sharply to $X in 2022. Over the period under review, imports continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2018 with an increase of 33% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Singapore (X tons), Austria (X tons) and the Philippines (X tons) were the main suppliers of wooden furniture treatments imports to Malaysia, with a combined 44% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +1,498.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constituted the largest supplier of polishes and creams for wooden furniture and floors to Malaysia, comprising 38% of total imports. The second position in the ranking was taken by Singapore ($X), with a 12% share of total imports. It was followed by Thailand, with an 8.3% share.

From 2012 to 2022, the average annual growth rate of value from Vietnam totaled +41.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-3.7% per year) and Thailand (+0.8% per year).

Import Prices by Country

In 2022, the average wooden furniture treatments import price amounted to $X per ton, surging by 9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2013 an increase of 30%. Over the period under review, average import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+49.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :