South-Eastern Asia: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in South-Eastern Asia

The Southeast Asian metal office furniture market shrank to $X in 2022, falling by -6% against the previous year. The total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -10.0% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Metal Office Furniture Production in South-Eastern Asia

In value terms, metal office furniture production reduced to $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -9.4% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 26% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Metal Office Furniture Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of metal office furniture increased by 4.9% to X tons, rising for the second year in a row after five years of decline. Overall, exports, however, showed a noticeable decrease. The most prominent rate of growth was recorded in 2015 with an increase of 15%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, metal office furniture exports expanded rapidly to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when exports increased by 13%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Malaysia (X tons) represented the largest exporter of metal office furniture, constituting 59% of total exports. Vietnam (X tons) ranks second in terms of the total exports with a 16% share, followed by Singapore (14%) and Indonesia (8.2%). Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to metal office furniture exports from Malaysia stood at -4.0%. At the same time, Vietnam (+10.3%) and Indonesia (+6.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +10.3% from 2012-2022. By contrast, Singapore (-1.2%) and Thailand (-13.8%) illustrated a downward trend over the same period. Vietnam (+11 p.p.), Indonesia (+4.8 p.p.) and Singapore (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Malaysia saw its share reduced by -5.6% and -11.8% from 2012 to 2022, respectively.

In value terms, Malaysia ($X) remains the largest metal office furniture supplier in South-Eastern Asia, comprising 46% of total exports. The second position in the ranking was held by Singapore ($X), with a 20% share of total exports. It was followed by Indonesia, with a 14% share.

In Malaysia, metal office furniture exports shrank by an average annual rate of -2.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Singapore (+0.1% per year) and Indonesia (+12.0% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, rising by 3.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2017 when the export price increased by 12% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+10.3%), while the other leaders experienced more modest paces of growth.

Metal Office Furniture Imports

Imports in South-Eastern Asia

Metal office furniture imports reduced rapidly to X tons in 2022, which is down by -19.1% on 2021 figures. Total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +3.1% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 33% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then fell dramatically in the following year.

In value terms, metal office furniture imports shrank to $X in 2022. Total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.1% against 2013 indices. The pace of growth appeared the most rapid in 2021 with an increase of 37%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

Indonesia (X tons) and Singapore (X tons) were the main importers of metal office furniture in 2022, finishing at near 36% and 30% of total imports, respectively. Malaysia (X tons) took the next position in the ranking, distantly followed by the Philippines (X tons) and Cambodia (X tons). All these countries together held near 27% share of total imports. The following importers - Thailand (X tons) and Myanmar (X tons) - each recorded a 3.5% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +24.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest metal office furniture importing markets in South-Eastern Asia were Singapore ($X), Indonesia ($X) and Malaysia ($X), together comprising 75% of total imports. Thailand, the Philippines, Cambodia and Myanmar lagged somewhat behind, together comprising a further 22%.

Cambodia, with a CAGR of +22.2%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, surging by 11% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 13% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+19.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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