Southern Asia: Market for Upholstered Seats With Metal Frames 2024

Market Size for Upholstered Seats With Metal Frames in Southern Asia

After three years of growth, the South Asian metal frame upholstered seat market decreased by -11.1% to $X in 2021. Overall, consumption, however, posted buoyant growth. The level of consumption peaked at $X in 2020, and then shrank in the following year.

Production of Upholstered Seats With Metal Frames in Southern Asia

In value terms, metal frame upholstered seat production contracted to $X in 2021 estimated in export price. In general, production, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2018 with an increase of 63% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then contracted in the following year.

Exports of Upholstered Seats With Metal Frames

Exports in Southern Asia

In 2021, overseas shipments of upholstered seats with metal frames increased by 41% to X units, rising for the fourth consecutive year after three years of decline. In general, exports saw a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 413%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in years to come.

In value terms, metal frame upholstered seat exports soared to $X in 2021. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 288%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

India dominates exports structure, recording X units, which was near 92% of total exports in 2021. It was distantly followed by Sri Lanka (X units), mixing up a 5.6% share of total exports. Bangladesh (X units) followed a long way behind the leaders.

Exports from India increased at an average annual rate of +33.5% from 2012 to 2021. At the same time, Bangladesh (+36.1%) and Sri Lanka (+9.9%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +36.1% from 2012-2021. While the share of India (+25 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Sri Lanka (-18 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest metal frame upholstered seat supplier in Southern Asia, comprising 90% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 7.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in India stood at +46.6%. In the other countries, the average annual rates were as follows: Sri Lanka (+12.3% per year) and Bangladesh (+39.9% per year).

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per unit, rising by 24% against the previous year. Overall, the export price enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2016 when the export price increased by 50%. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in the near future.

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 Sri Lanka ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+9.8%), while the other leaders experienced more modest paces of growth.

Imports of Upholstered Seats With Metal Frames

Imports in Southern Asia

In 2021, approx. X units of upholstered seats with metal frames were imported in Southern Asia; picking up by 61% against the previous year. Over the period under review, imports continue to indicate a strong expansion. The volume of import peaked at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, metal frame upholstered seat imports soared to $X in 2021. Overall, imports continue to indicate a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India was the main importing country with an import of around X units, which finished at 44% of total imports. Sri Lanka (X units) ranks second in terms of the total imports with a 23% share, followed by Pakistan (11%), Bangladesh (9.9%) and Maldives (9.4%). Nepal (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +20.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constitutes the largest market for imported upholstered seats with metal frames in Southern Asia, comprising 59% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 17% share of total imports. It was followed by Maldives, with a 14% share.

In India, metal frame upholstered seat imports expanded at an average annual rate of +16.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Bangladesh (+19.9% per year) and Maldives (+21.5% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2021, with an increase of 6.1% against the previous year. Import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal frame upholstered seat import price increased by +66.5% against 2018 indices. The pace of growth appeared the most rapid in 2020 when the import price increased by 48% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bangladesh ($X per unit), while Sri Lanka ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+14.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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