South-Eastern Asia: Wooden Frame Market 2024

Wooden Frame Market Size in South-Eastern Asia

In 2021, the Southeast Asian wooden frame market increased by 34% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, showed a pronounced descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Wooden Frame Production in South-Eastern Asia

In value terms, wooden frame production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, saw a abrupt decline. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Wooden Frame Exports

Exports in South-Eastern Asia

For the third year in a row, South-Eastern Asia recorded decline in overseas shipments of wooden frames for paintings, photographs, mirrors or similar objects, which decreased by -18.1% to X units in 2021. Over the period under review, exports recorded a abrupt slump. The growth pace was the most rapid in 2015 when exports increased by 17%. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, wooden frame exports contracted to $X in 2021. In general, exports showed a abrupt contraction. The growth pace was the most rapid in 2015 with an increase of 16% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia was the key exporter of wooden frames for paintings, photographs, mirrors or similar objects in South-Eastern Asia, with the volume of exports reaching X units, which was approx. 70% of total exports in 2021. Vietnam (X units) held a 17% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (5.9%). The following exporters - the Philippines (X units) and Cambodia (X units) - each accounted for a 5.7% share of total exports.

Exports from Indonesia decreased at an average annual rate of -5.5% from 2012 to 2021. At the same time, Cambodia (+58.1%), the Philippines (+24.0%) and Vietnam (+2.5%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +58.1% from 2012-2021. By contrast, Malaysia (-24.1%) illustrated a downward trend over the same period. While the share of Indonesia (+27 p.p.), Vietnam (+12 p.p.), Cambodia (+2.8 p.p.) and the Philippines (+2.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Malaysia (-20.4 p.p.) displayed negative dynamics.

In value terms, Indonesia ($X) remains the largest wooden frame supplier in South-Eastern Asia, comprising 60% of total exports. The second position in the ranking was held by Vietnam ($X), with a 15% share of total exports. It was followed by Malaysia, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Indonesia totaled -3.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+0.4% per year) and Malaysia (-26.2% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, increasing by 5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2020 an increase of 12%. Over the period under review, the export prices reached the maximum in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was the Philippines ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+2.0%), while the other leaders experienced a decline in the export price figures.

Wooden Frame Imports

Imports in South-Eastern Asia

In 2021, the amount of wooden frames for paintings, photographs, mirrors or similar objects imported in South-Eastern Asia skyrocketed to X units, rising by 26% compared with the previous year's figure. In general, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 81%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, wooden frame imports surged to $X in 2021. Overall, imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2019 when imports increased by 38%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

Malaysia represented the major importing country with an import of around X units, which amounted to 45% of total imports. Cambodia (X units) ranks second in terms of the total imports with a 29% share, followed by Vietnam (11%) and Singapore (5.5%). The following importers - the Philippines (X units) and Myanmar (X units) - each resulted at a 7.8% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +77.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wooden frame importing markets in South-Eastern Asia were Malaysia ($X), Cambodia ($X) and Vietnam ($X), with a combined 66% share of total imports.

Cambodia, with a CAGR of +64.4%, 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

In 2021, the import price in South-Eastern Asia amounted to $X per unit, picking up by 3% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 33%. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+27.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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