Sri Lanka: Market for Upholstered Seats With Metal Frames 2024

Market Size for Upholstered Seats With Metal Frames in Sri Lanka

The Sri Lankan metal frame upholstered seat market soared to $X in 2021, with an increase of 196% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a measured expansion. Metal frame upholstered seat consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Exports of Upholstered Seats With Metal Frames

Exports from Sri Lanka

In 2021, the amount of upholstered seats with metal frames exported from Sri Lanka soared to X units, rising by 39% compared with 2020. In general, exports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2015 with an increase of 65% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, metal frame upholstered seat exports surged to $X in 2021. Overall, exports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2015 when exports increased by 77% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

India (X units) was the main destination for metal frame upholstered seat exports from Sri Lanka, with a 93% share of total exports. Moreover, metal frame upholstered seat exports to India exceeded the volume sent to the second major destination, Lebanon (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to India stood at +11.0%.

In value terms, India ($X) remains the key foreign market for upholstered seats with metal frames exports from Sri Lanka, comprising 88% of total exports. The second position in the ranking was taken by Lebanon ($X), with a 5.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value to India totaled +16.0%.

Export Prices by Country

The average metal frame upholstered seat export price stood at $X per unit in 2021, dropping by -2.3% against the previous year. In general, export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.2% 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 export price increased by +21.6% against 2019 indices. The pace of growth appeared the most rapid in 2013 an increase of 55% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Lebanon ($X per unit), while the average price for exports to India stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Lebanon (+5.4%).

Imports of Upholstered Seats With Metal Frames

Imports into Sri Lanka

Metal frame upholstered seat imports into Sri Lanka soared to X units in 2021, picking up by 176% against the previous year. Overall, imports saw temperate growth. Imports peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, metal frame upholstered seat imports surged to $X in 2021. In general, imports continue to indicate notable growth. The growth pace was the most rapid in 2018 with an increase of 268%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of metal frame upholstered seat to Sri Lanka, with a 88% share of total imports. It was followed by Malaysia (X units), with a 2.4% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China stood at +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-1.5% per year) and Hong Kong SAR (-19.3% per year).

In value terms, China ($X) constituted the largest supplier of upholstered seats with metal frames to Sri Lanka, comprising 58% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 7.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-2.9% per year) and Hong Kong SAR (-14.4% per year).

Import Prices by Country

In 2021, the average metal frame upholstered seat import price amounted to $X per unit, with an increase of 8.6% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 46%. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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