Malaysia: Metal Domestic Furniture Market 2024

Metal Domestic Furniture Market Size in Malaysia

The Malaysian metal domestic furniture market expanded significantly to $X in 2022, picking up by X% against the previous year. In general, consumption saw a buoyant expansion. Metal domestic furniture consumption peaked in 2022 and is likely to see gradual growth in the near future.

Metal Domestic Furniture Production in Malaysia

In value terms, metal domestic furniture production amounted to $X in 2022 estimated in export price. In general, production showed a prominent increase. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Metal Domestic Furniture Exports

Exports from Malaysia

In 2022, overseas shipments of metal furniture decreased by X% to X tons, falling for the second year in a row after three years of growth. Overall, exports showed a mild contraction. The growth pace was the most rapid in 2020 with an increase of X%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, metal domestic furniture exports reduced remarkably to $X in 2022. Over the period under review, exports showed a mild decrease. The pace of growth was the most pronounced in 2017 with an increase of X%. The exports peaked at $X in 2021, and then reduced notably in the following year.

Exports by Country

The United States (X tons) was the main destination for metal domestic furniture exports from Malaysia, accounting for a X% share of total exports. Moreover, metal domestic furniture exports to the United States exceeded the volume sent to the second major destination, Singapore (X tons), twofold. The third position in this ranking was held by the Philippines (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and the Philippines (X% per year).

In value terms, the United States ($X), Singapore ($X) and Australia ($X) were the largest markets for metal domestic furniture exported from Malaysia worldwide, with a combined X% share of total exports. The Philippines, Japan, Thailand, the United Arab Emirates, Turkey, Indonesia, Saudi Arabia, Canada, the UK and Russia lagged somewhat behind, together accounting for a further X%.

Turkey, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average metal domestic furniture export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to the UK ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Domestic Furniture Imports

Imports into Malaysia

In 2022, the amount of metal furniture imported into Malaysia declined to X tons, reducing by X% on 2021. Over the period under review, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, metal domestic furniture imports shrank to $X in 2022. Overall, imports, however, saw a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal domestic furniture to Malaysia, accounting for a X% share of total imports. It was followed by Taiwan (Chinese) (X tons), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%.

In value terms, China ($X) constituted the largest supplier of metal furniture to Malaysia, comprising X% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%.

Import Prices by Country

In 2022, the average metal domestic furniture import price amounted to $X per ton, rising by X% against the previous year. Overall, the import price, however, recorded a pronounced decline. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 Taiwan (Chinese) ($X per ton), while the price for China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%).

Source: IndexBox Platform

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