South-Eastern Asia: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in South-Eastern Asia

The Southeast Asian wooden office furniture market soared to $X in 2021, surging by 17% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Wooden Office Furniture Production in South-Eastern Asia

In value terms, wooden office furniture production surged to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 23%. The level of production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Wooden Office Furniture Exports

Exports in South-Eastern Asia

Wooden office furniture exports reached X units in 2021, approximately equating the year before. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 59%. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, wooden office furniture exports skyrocketed to $X in 2021. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 147%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Vietnam (X units) and Malaysia (X units) were the key exporters of wooden furniture of a kind used in offices in South-Eastern Asia, together achieving 79% of total exports. It was distantly followed by Indonesia (X units), making up a 12% share of total exports. Thailand (X units), Singapore (X units) and the Philippines (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +31.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the largest wooden office furniture supplier in South-Eastern Asia, comprising 57% of total exports. The second position in the ranking was held by Malaysia ($X), with a 28% share of total exports. It was followed by Indonesia, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Vietnam stood at +18.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-9.0% per year) and Indonesia (+0.3% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per unit, picking up by 15% against the previous year. Export price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wooden office furniture export price decreased by -13.6% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 63%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+1.2%), while the other leaders experienced more modest paces of growth.

Wooden Office Furniture Imports

Imports in South-Eastern Asia

In 2021, after two years of decline, there was significant growth in overseas purchases of wooden furniture of a kind used in offices, when their volume increased by 35% to X units. In general, imports showed a buoyant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 76%. Over the period under review, imports reached the maximum at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, wooden office furniture imports soared to $X in 2021. Total imports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -36.2% against 2018 indices. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Philippines (X units) was the main importer of wooden furniture of a kind used in offices, achieving 56% of total imports. It was distantly followed by Malaysia (X units), Indonesia (X units) and Singapore (X units), together constituting a 36% share of total imports. The following importers - Cambodia (X units) and Vietnam (X units) - each finished at a 6% share of total imports.

Imports into the Philippines increased at an average annual rate of +17.3% from 2012 to 2021. At the same time, Indonesia (+20.1%), Vietnam (+16.6%), Cambodia (+11.5%) and Malaysia (+2.3%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +20.1% from 2012-2021. By contrast, Singapore (-2.5%) illustrated a downward trend over the same period. The Philippines (+28 p.p.) and Indonesia (+7.2 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and Singapore saw its share reduced by -10.6% and -13.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wooden office furniture importing markets in South-Eastern Asia were Malaysia ($X), the Philippines ($X) and Singapore ($X), together accounting for 69% of total imports. Indonesia, Vietnam and Cambodia lagged somewhat behind, together comprising a further 28%.

Vietnam, with a CAGR of +13.8%, saw the highest growth rate of the value of imports, in terms of 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 2021, approximately reflecting the previous year. Over the period under review, the import price, however, continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2019 when the import price increased by 14%. Over the period under review, import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 Singapore ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+11.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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