Thailand: Wooden Furniture Treatments Market 2024

Wooden Furniture Treatments Market Size in Thailand

The Thai wooden furniture treatments market contracted to $X in 2022, with a decrease of -5.9% against the previous year. In general, consumption recorded a noticeable decline. Wooden furniture treatments consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Wooden Furniture Treatments Production in Thailand

In value terms, wooden furniture treatments production shrank to $X in 2022 estimated in export price. Overall, production showed a pronounced reduction. The growth pace was the most rapid in 2018 when the production volume increased by 28%. Wooden furniture treatments production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Wooden Furniture Treatments Exports

Exports from Thailand

After two years of growth, shipments abroad of polishes and creams for wooden furniture and floors decreased by -23.3% to X tons in 2022. Overall, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2020 with an increase of 54% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, wooden furniture treatments exports shrank dramatically to $X in 2022. In general, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2021 when exports increased by 65% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Myanmar (X tons), Cambodia (X tons) and the Philippines (X tons) were the main destinations of wooden furniture treatments exports from Thailand, together accounting for 86% of total exports.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +115.2%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Cambodia ($X), Myanmar ($X) and the Philippines ($X) appeared to be the largest markets for wooden furniture treatments exported from Thailand worldwide, with a combined 75% share of total exports.

In terms of the main countries of destination, Cambodia, with a CAGR of +113.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average wooden furniture treatments export price amounted to $X per ton, picking up by 8.6% against the previous year. Over the period under review, the export price recorded a resilient increase. The pace of growth was the most pronounced in 2016 when the average export price increased by 41%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+18.1%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Furniture Treatments Imports

Imports into Thailand

After two years of growth, overseas purchases of polishes and creams for wooden furniture and floors decreased by -10.2% to X tons in 2022. Over the period under review, imports, however, saw strong growth. The pace of growth was the most pronounced in 2015 when imports increased by 125%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, wooden furniture treatments imports reduced rapidly to $X in 2022. In general, imports, however, saw a perceptible increase. The pace of growth appeared the most rapid in 2021 when imports increased by 53%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) was the main wooden furniture treatments supplier to Thailand, accounting for a 96% share of total imports. It was followed by Taiwan (Chinese) (X tons), with a 1.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-10.6% per year) and the United States (-12.2% per year).

In value terms, China ($X) constituted the largest supplier of polishes and creams for wooden furniture and floors to Thailand, comprising 72% of total imports. The second position in the ranking was held by the United States ($X), with a 6.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.9% per year) and Taiwan (Chinese) (-7.5% per year).

Import Prices by Country

The average wooden furniture treatments import price stood at $X per ton in 2022, reducing by -7.5% against the previous year. Over the period under review, the import price saw a abrupt descent. The most prominent rate of growth was recorded in 2019 an increase of 64% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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