Southern Asia: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in Southern Asia

The South Asian metal office furniture market expanded to $X in 2022, surging by 3.6% against the previous year. Overall, consumption, however, continues to indicate a noticeable contraction. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Metal Office Furniture Production in Southern Asia

In value terms, metal office furniture production expanded to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 33% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Metal Office Furniture Exports

Exports in Southern Asia

In 2022, shipments abroad of metal office furniture increased by 36% to X tons, rising for the second year in a row after two years of decline. Overall, exports saw a pronounced expansion. The pace of growth was the most pronounced in 2021 when exports increased by 125% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, metal office furniture exports skyrocketed to $X in 2022. In general, exports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2021 when exports increased by 61% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The shipments of the one major exporters of metal office furniture, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the metal office furniture exports, with a CAGR of +4.6% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest metal office furniture supplier in Southern Asia.

From 2012 to 2022, the average annual growth rate of value in India totaled +9.8%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, rising by 11% against the previous year. In general, the export price saw measured growth. The most prominent rate of growth was recorded in 2017 when the export price increased by 33% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +4.9% per year.

Metal Office Furniture Imports

Imports in Southern Asia

In 2022, after three years of decline, there was significant growth in supplies from abroad of metal office furniture, when their volume increased by 42% to X tons. Total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when imports increased by 43% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, metal office furniture imports surged to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, India (X tons) represented the major importer of metal office furniture, committing 74% of total imports. Nepal (X tons) ranks second in terms of the total imports with a 14% share, followed by Bangladesh (4.6%). The following importers - Bhutan (X tons) and Maldives (X tons) - each resulted at a 4.4% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to metal office furniture imports into India stood at +2.6%. At the same time, Nepal (+14.3%), Bhutan (+10.2%) and Maldives (+9.6%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +14.3% from 2012-2022. Bangladesh experienced a relatively flat trend pattern. Nepal (+9.1 p.p.) and India (+2.9 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported metal office furniture in Southern Asia, comprising 75% of total imports. The second position in the ranking was taken by Nepal ($X), with a 13% share of total imports. It was followed by Bangladesh, with a 5.4% share.

In India, metal office furniture imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Nepal (+13.8% per year) and Bangladesh (+7.4% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, surging by 8.9% against the previous year. Overall, the import price, however, recorded a pronounced descent. Over the period under review, import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Bangladesh ($X per ton) and India ($X per ton), while Maldives ($X per ton) and Bhutan ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+7.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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