Thailand: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in Thailand

The Thai metal office furniture market stood at $X in 2022, leveling off at the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. Metal office furniture consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Metal Office Furniture Production in Thailand

In value terms, metal office furniture production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when the production volume increased by 16% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Metal Office Furniture Exports

Exports from Thailand

In 2022, overseas shipments of metal office furniture were finally on the rise to reach X tons after three years of decline. In general, exports, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2015 with an increase of 62% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal office furniture exports reduced to $X in 2022. Overall, exports, however, saw a noticeable decline. The pace of growth was the most pronounced in 2018 with an increase of 28%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for metal office furniture exports from Thailand, with a 52% share of total exports. Moreover, metal office furniture exports to the United States exceeded the volume sent to the second major destination, Cambodia (X tons), threefold. Lao People's Democratic Republic (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to -14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (-11.3% per year) and Lao People's Democratic Republic (+7.5% per year).

In value terms, the largest markets for metal office furniture exported from Thailand were the United States ($X), Lao People's Democratic Republic ($X) and Cambodia ($X), together comprising 63% of total exports. Japan, Hong Kong SAR and Maldives lagged somewhat behind, together comprising a further 19%.

Hong Kong SAR, with a CAGR of +23.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average metal office furniture export price amounted to $X per ton, dropping by -20.2% against the previous year. In general, the export price, however, continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 108% against the previous year. The export price peaked at $X per ton in 2021, and then contracted notably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the United States ($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 the United States (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Office Furniture Imports

Imports into Thailand

In 2022, purchases abroad of metal office furniture decreased by -8% to X tons, falling for the sixth year in a row after five years of growth. Over the period under review, imports saw a deep downturn. The pace of growth appeared the most rapid in 2015 with an increase of 77% against the previous year. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, metal office furniture imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 33%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal office furniture to Thailand, with a 66% share of total imports. Moreover, metal office furniture imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from China totaled -7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.8% per year) and Malaysia (-10.0% per year).

In value terms, China ($X) constituted the largest supplier of metal office furniture to Thailand, comprising 67% of total imports. The second position in the ranking was taken by Japan ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+15.8% per year) and Malaysia (+1.5% per year).

Import Prices by Country

The average metal office furniture import price stood at $X per ton in 2022, surging by 38% against the previous year. Over the period under review, the import price continues to indicate a buoyant increase. The growth pace was the most rapid in 2020 an increase of 124% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.

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 Malaysia ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+24.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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