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

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

The Southeast Asian wooden frame upholstered seat market expanded remarkably to $X in 2022, rising by 9.3% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

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

In value terms, wooden frame upholstered seat production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a notable expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 36% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Upholstered Seats With Wooden Frames

Exports in South-Eastern Asia

In 2022, after five years of growth, there was decline in shipments abroad of upholstered seats with wooden frames, when their volume decreased by -4.1% to X units. Over the period under review, exports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 122%. Over the period under review, the exports hit record highs at X units in 2021, and then reduced in the following year.

In value terms, wooden frame upholstered seat exports dropped to $X in 2022. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 123% against the previous year. The level of export peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Vietnam prevails in exports structure, accounting for X units, which was near 91% of total exports in 2022. The following exporters - Malaysia (X units) and Thailand (X units) - each finished at a 6% share of total exports.

Vietnam was also the fastest-growing in terms of the upholstered seats with wooden frames exports, with a CAGR of +35.4% from 2012 to 2022. Thailand (-5.0%) and Malaysia (-6.2%) illustrated a downward trend over the same period. Vietnam (+63 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Malaysia saw its share reduced by -28.4% and -35.6% from 2012 to 2022, respectively.

In value terms, Vietnam ($X) remains the largest wooden frame upholstered seat supplier in South-Eastern Asia, comprising 86% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 4.8% share of total exports.

In Vietnam, wooden frame upholstered seat exports increased at an average annual rate of +25.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (+2.8% per year) and Thailand (+1.0% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, with a decrease of -10.1% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 27%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while Vietnam ($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 (+9.7%), while the other leaders experienced mixed trends in the export price figures.

Imports of Upholstered Seats With Wooden Frames

Imports in South-Eastern Asia

In 2022, imports of upholstered seats with wooden frames in South-Eastern Asia fell sharply to X units, reducing by -18.1% compared with the previous year. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.4% 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 +44.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 76% against the previous year. As a result, imports reached the peak of X units, and then fell dramatically in the following year.

In value terms, wooden frame upholstered seat imports reached $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 +74.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 63% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

Thailand (X units), Malaysia (X units) and the Philippines (X units) represented roughly 69% of total imports in 2022. Singapore (X units) ranks next in terms of the total imports with an 11% share, followed by Indonesia (11%) and Vietnam (4.9%). Brunei Darussalam (X units) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Brunei Darussalam (with a CAGR of +16.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wooden frame upholstered seat importing markets in South-Eastern Asia were Indonesia ($X), Thailand ($X) and Singapore ($X), with a combined 61% share of total imports. Malaysia, the Philippines, Vietnam and Brunei Darussalam lagged somewhat behind, together accounting for a further 38%.

The Philippines, with a CAGR of +21.2%, saw the highest rates of growth with regard to 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 unit in 2022, increasing by 31% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Indonesia ($X per unit), while Brunei Darussalam ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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