Philippines: Market for Non-Upholstered Seats With Wooden Frames 2024

Market Size for Non-Upholstered Seats With Wooden Frames in the Philippines

For the fifth year in a row, the Philippine wooden frame non-upholstered seat market recorded decline in sales value, which decreased by -4.1% to $X in 2022. Overall, consumption, however, posted moderate growth. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Non-Upholstered Seats With Wooden Frames in the Philippines

In value terms, wooden frame non-upholstered seat production amounted to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. Wooden frame non-upholstered seat production peaked in 2022 and is likely to see steady growth in the immediate term.

Exports of Non-Upholstered Seats With Wooden Frames

Exports from the Philippines

In 2022, overseas shipments of non-upholstered seats with wooden frames increased by 358% to X units, rising for the fourth consecutive year after two years of decline. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 1,024% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, wooden frame non-upholstered seat exports skyrocketed to $X in 2022. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 992% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X units) was the main destination for wooden frame non-upholstered seat exports from the Philippines, accounting for a 92% share of total exports. Moreover, wooden frame non-upholstered seat exports to the United States exceeded the volume sent to the second major destination, the UK (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +69.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+288.4% per year) and Thailand (+2.5% per year).

In value terms, the United States ($X) remains the key foreign market for non-upholstered seats with wooden frames exports from the Philippines, comprising 95% of total exports. The second position in the ranking was held by the UK ($X), with a 2.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +59.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+111.4% per year) and Thailand (-47.5% per year).

Export Prices by Country

The average wooden frame non-upholstered seat export price stood at $X per unit in 2022, with a decrease of -15.6% against the previous year. In general, the export price recorded a deep contraction. The pace of growth was the most pronounced in 2013 an increase of 171%. The export price peaked at $X per unit in 2017; however, from 2018 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 the United States ($X per unit), while the average price for exports to the UK ($X per unit) 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 a decline.

Imports of Non-Upholstered Seats With Wooden Frames

Imports into the Philippines

In 2022, overseas purchases of non-upholstered seats with wooden frames increased by 29% to X units, rising for the second consecutive year after three years of decline. Overall, imports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of 137% against the previous year. Over the period under review, imports reached the peak figure at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, wooden frame non-upholstered seat imports surged to $X in 2022. In general, imports recorded a remarkable increase. The pace of growth appeared the most rapid in 2013 when imports increased by 146% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Vietnam (X units), China (X units) and Indonesia (X units) were the main suppliers of wooden frame non-upholstered seat imports to the Philippines, together accounting for 70% of total imports. Malaysia, Hong Kong SAR, Israel and South Korea lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Israel (with a CAGR of +68.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of non-upholstered seats with wooden frames to the Philippines, comprising 45% of total imports. The second position in the ranking was held by Malaysia ($X), with a 17% share of total imports. It was followed by Vietnam, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+11.4% per year) and Vietnam (+14.2% per year).

Import Prices by Country

In 2022, the average wooden frame non-upholstered seat import price amounted to $X per unit, dropping by -6.4% against the previous year. Overall, the import price continues to indicate a slight downturn. The growth pace was the most rapid in 2015 an increase of 23%. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, 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 Malaysia ($X per unit), while the price for Israel ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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