Malaysia: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in Malaysia

The Malaysian metal office furniture market declined to $X in 2022, shrinking by -10.8% against the previous year. In general, the total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +11.4% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Metal Office Furniture Production in Malaysia

In value terms, metal office furniture production contracted 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 indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the production volume increased by 26% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Metal Office Furniture Exports

Exports from Malaysia

In 2022, the amount of metal office furniture exported from Malaysia totaled X tons, remaining stable against 2021. Overall, exports, however, saw a perceptible decline. The pace of growth appeared the most rapid in 2015 with an increase of 20%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, metal office furniture exports reached $X in 2022. Over the period under review, exports, however, recorded a pronounced contraction. The growth pace was the most rapid in 2015 with an increase of 43% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Singapore (X tons), the United States (X tons) and Australia (X tons) were the main destinations of metal office furniture exports from Malaysia, together comprising 56% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +37.9%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), the United States ($X) and India ($X) appeared to be the largest markets for metal office furniture exported from Malaysia worldwide, together comprising 59% of total exports.

Among the main countries of destination, the United States, with a CAGR of +45.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average metal office furniture export price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2015 when the average export price increased by 19%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Saudi Arabia ($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 States (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Office Furniture Imports

Imports into Malaysia

In 2022, overseas purchases of metal office furniture decreased by -16.8% to X tons for the first time since 2014, thus ending a seven-year rising trend. Over the period under review, imports, however, recorded slight growth. The growth pace was the most rapid in 2021 with an increase of 50% against the previous year. As a result, imports reached the peak of X tons, and then fell notably in the following year.

In value terms, metal office furniture imports fell dramatically to $X in 2022. In general, imports, however, saw mild growth. The growth pace was the most rapid in 2021 with an increase of 67%. As a result, imports reached the peak of $X, and then reduced dramatically in the following year.

Imports by Country

In 2022, China (X tons) was the main supplier of metal office furniture to Malaysia, with a 91% share of total imports. Moreover, metal office furniture imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-5.9% per year) and Hong Kong SAR (-37.7% per year).

In value terms, China ($X) constituted the largest supplier of metal office furniture to Malaysia, comprising 78% of total imports. The second position in the ranking was taken by Singapore ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-5.3% per year) and Hong Kong SAR (-35.1% per year).

Import Prices by Country

The average metal office furniture import price stood at $X per ton in 2022, shrinking by -4% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 37%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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