Singapore: Market for Upholstered Seats With Metal Frames 2024

Market Size for Upholstered Seats With Metal Frames in Singapore

In 2021, after two years of decline, there was significant growth in the Singaporean metal frame upholstered seat market, when its value increased by 37% to $X. Overall, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Exports of Upholstered Seats With Metal Frames

Exports from Singapore

In 2021, approx. X units of upholstered seats with metal frames were exported from Singapore; picking up by 156% on the previous year. Overall, exports saw a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, metal frame upholstered seat exports skyrocketed to $X in 2021. In general, exports saw mild growth. The pace of growth appeared the most rapid in 2018 when exports increased by 117%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Indonesia (X units), Qatar (X units) and Malaysia (X units) were the main destinations of metal frame upholstered seat exports from Singapore, with a combined 68% share of total exports. South Korea, Israel, Australia, Oman, Thailand, Taiwan (Chinese), the United States and Brunei Darussalam lagged somewhat behind, together comprising a further 21%.

From 2012 to 2021, the biggest increases were recorded for Israel (with a CAGR of +326.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for metal frame upholstered seat exported from Singapore were Indonesia ($X), Qatar ($X) and Malaysia ($X), with a combined 64% share of total exports. These countries were followed by South Korea, Israel, Australia, Oman, Thailand, Taiwan (Chinese), the United States and Brunei Darussalam, which together accounted for a further 20%.

In terms of the main countries of destination, Israel, with a CAGR of +390.4%, 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

In 2021, the average metal frame upholstered seat export price amounted to $X per unit, declining by -42.8% against the previous year. In general, the export price showed a abrupt contraction. The growth pace was the most rapid in 2017 when the average export price increased by 23% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Australia ($X per unit) and Indonesia ($X per unit), while the average price for exports to Oman ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Israel (+21.5%), while the prices for the other major destinations experienced a decline.

Imports of Upholstered Seats With Metal Frames

Imports into Singapore

In 2021, purchases abroad of upholstered seats with metal frames increased by 42% to X units for the first time since 2018, thus ending a two-year declining trend. In general, total imports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 66% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, metal frame upholstered seat imports surged to $X in 2021. Overall, total imports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of metal frame upholstered seat to Singapore, accounting for a 42% share of total imports. Moreover, metal frame upholstered seat imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. Germany (X units) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+4.0% per year) and Germany (+4.1% per year).

In value terms, China ($X) constituted the largest supplier of upholstered seats with metal frames to Singapore, comprising 42% of total imports. The second position in the ranking was held by Italy ($X), with a 19% share of total imports. It was followed by Germany, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.1% per year) and Germany (+5.1% per year).

Import Prices by Country

The average metal frame upholstered seat import price stood at $X per unit in 2021, with an increase of 3.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The growth pace was the most rapid in 2016 when the average import price increased by 13% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from China ($X per unit) and Italy ($X per unit), while the price for Vietnam ($X per unit) and Poland ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+1.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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