South-Eastern Asia: Wooden Furniture Treatments Market 2024

Wooden Furniture Treatments Market Size in South-Eastern Asia

The Southeast Asian wooden furniture treatments market rose to $X in 2022, growing by 1.6% against the previous year. In general, consumption saw a pronounced curtailment. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Wooden Furniture Treatments Production in South-Eastern Asia

In value terms, wooden furniture treatments production rose to $X in 2022 estimated in export price. Overall, production saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 20%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Wooden Furniture Treatments Exports

Exports in South-Eastern Asia

After two years of decline, shipments abroad of polishes and creams for wooden furniture and floors increased by 9.6% to X tons in 2022. In general, exports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 24%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wooden furniture treatments exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 28% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand (X tons), Vietnam (X tons), Malaysia (X tons) and Singapore (X tons) represented roughly 98% of total exports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Malaysia (with a CAGR of +4.3%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest wooden furniture treatments supplying countries in South-Eastern Asia were Singapore ($X), Vietnam ($X) and Thailand ($X), with a combined 81% share of total exports.

Singapore, with a CAGR of +3.9%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, rising by 16% against the previous year. Export price indicated measured growth from 2012 to 2022: its price 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, wooden furniture treatments export price increased by +18.8% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the export price increased by 45%. Over the period under review, the export prices attained the peak figure at $X per ton in 2018; afterwards, it flattened through to 2022.

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 Singapore ($X per ton), while Malaysia ($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 (+5.1%), while the other leaders experienced more modest paces of growth.

Wooden Furniture Treatments Imports

Imports in South-Eastern Asia

In 2022, purchases abroad of polishes and creams for wooden furniture and floors increased by 5.7% to X tons, rising for the second consecutive year after three years of decline. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 45%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, wooden furniture treatments imports skyrocketed to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 31% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X tons), distantly followed by the Philippines (X tons), Vietnam (X tons), Malaysia (X tons) and Singapore (X tons) represented the largest importers of polishes and creams for wooden furniture and floors, together mixing up 94% of total imports. Indonesia (X tons) and Cambodia (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cambodia (with a CAGR of +44.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), Vietnam ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2022, with a combined 70% share of total imports. Singapore, Malaysia, Indonesia and Cambodia lagged somewhat behind, together comprising a further 29%.

In terms of the main importing countries, Cambodia, with a CAGR of +37.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, surging by 15% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2019 an increase of 18%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+10.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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