South-Eastern Asia: Market for Upholstered Seats With Metal Frames 2024

Market Size for Upholstered Seats With Metal Frames in South-Eastern Asia

After four years of growth, the Southeast Asian metal frame upholstered seat market decreased by -2.2% to $X in 2021. The market value increased at an average annual rate of +3.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then shrank in the following year.

Production of Upholstered Seats With Metal Frames in South-Eastern Asia

In value terms, metal frame upholstered seat production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when the production volume increased by 18%. As a result, production attained the peak level of $X, and then shrank in the following year.

Exports of Upholstered Seats With Metal Frames

Exports in South-Eastern Asia

In 2021, overseas shipments of upholstered seats with metal frames increased by 18% to X units, rising for the fourth year in a row after two years of decline. Overall, exports continue to indicate a strong expansion. The growth pace was the most rapid in 2020 with an increase of 66% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, metal frame upholstered seat exports surged to $X in 2021. Over the period under review, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 69%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

Exports by Country

Vietnam prevails in exports structure, finishing at X units, which was approx. 78% of total exports in 2021. Malaysia (X units) took the second position in the ranking, followed by Indonesia (X units). All these countries together took near 16% share of total exports. Thailand (X units) took a relatively small share of total exports.

Vietnam was also the fastest-growing in terms of the upholstered seats with metal frames exports, with a CAGR of +54.2% from 2012 to 2021. At the same time, Indonesia (+2.8%) displayed positive paces of growth. By contrast, Malaysia (-4.4%) and Thailand (-4.9%) illustrated a downward trend over the same period. Vietnam (+72 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia, Thailand and Malaysia saw its share reduced by -10.6%, -19.6% and -41.1% from 2012 to 2021, respectively.

In value terms, Vietnam ($X) remains the largest metal frame upholstered seat supplier in South-Eastern Asia, comprising 81% of total exports. The second position in the ranking was held by Malaysia ($X), with an 8.7% share of total exports. It was followed by Indonesia, with a 5.4% share.

In Vietnam, metal frame upholstered seat exports expanded at an average annual rate of +66.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (+4.5% per year) and Indonesia (+7.0% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per unit, growing by 5.9% against the previous year. Over the period under review, the export price showed a strong expansion. The most prominent rate of growth was recorded in 2016 an increase of 32%. The level of export peaked in 2021 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Vietnam ($X per unit) and Thailand ($X per unit), while Indonesia ($X per unit) and Malaysia ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+12.1%), while the other leaders experienced more modest paces of growth.

Imports of Upholstered Seats With Metal Frames

Imports in South-Eastern Asia

In 2021, the amount of upholstered seats with metal frames imported in South-Eastern Asia surged to X units, growing by 28% on 2020. Over the period under review, imports showed prominent growth. The growth pace was the most rapid in 2017 with an increase of 38% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, metal frame upholstered seat imports rose modestly to $X in 2021. In general, imports posted a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 47%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

Thailand (X units) and Vietnam (X units) were the largest importers of upholstered seats with metal frames in 2021, reaching approx. 35% and 34% of total imports, respectively. Indonesia (X units) ranks next in terms of the total imports with an 8.8% share, followed by Malaysia (8.8%), Singapore (5.7%) and the Philippines (4.7%). Cambodia (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Philippines (with a CAGR of +19.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constitutes the largest market for imported upholstered seats with metal frames in South-Eastern Asia, comprising 46% of total imports. The second position in the ranking was taken by Thailand ($X), with an 18% share of total imports. It was followed by Indonesia, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Vietnam totaled +12.4%. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+11.6% per year) and Indonesia (+0.7% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per unit, which is down by -20.8% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 21% against the previous year. As a result, import price reached the peak level of $X per unit, and then declined notably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Cambodia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+8.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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