Thailand: Market for Upholstered Seats With Metal Frames 2024

Market Size for Upholstered Seats With Metal Frames in Thailand

The Thai metal frame upholstered seat market skyrocketed to $X in 2021, rising by 23% against the previous year. Overall, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +65.1% against 2017 indices. Metal frame upholstered seat consumption peaked in 2021 and is expected to retain growth in the near future.

Production of Upholstered Seats With Metal Frames in Thailand

In value terms, metal frame upholstered seat production expanded markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when the production volume increased by 37%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Exports of Upholstered Seats With Metal Frames

Exports from Thailand

In 2021, shipments abroad of upholstered seats with metal frames was finally on the rise to reach X units after six years of decline. Over the period under review, exports, however, showed a perceptible curtailment. The growth pace was the most rapid in 2013 with an increase of 160%. Over the period under review, the exports reached the peak figure at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, metal frame upholstered seat exports skyrocketed to $X in 2021. In general, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 130%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Myanmar (X units), Japan (X units) and the United States (X units) were the main destinations of metal frame upholstered seat exports from Thailand, with a combined 69% share of total exports. These countries were followed by Cambodia, South Korea, Canada and Australia, which together accounted for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +99.1%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the United States ($X) and South Korea ($X) constituted the largest markets for metal frame upholstered seat exported from Thailand worldwide, together comprising 65% of total exports.

In terms of the main countries of destination, South Korea, with a CAGR of +95.9%, saw the highest rates of growth with regard to 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 2021, the average metal frame upholstered seat export price amounted to $X per unit, increasing by 86% against the previous year. In general, the export price recorded a remarkable increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+30.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Upholstered Seats With Metal Frames

Imports into Thailand

For the fifth year in a row, Thailand recorded growth in purchases abroad of upholstered seats with metal frames, which increased by 35% to X units in 2021. Over the period under review, imports showed a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 37% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, metal frame upholstered seat imports soared to $X in 2021. Overall, imports recorded a buoyant increase. The pace of growth was the most pronounced in 2018 when imports increased by 36%. Imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, China (X units) was the main metal frame upholstered seat supplier to Thailand, with a 96% share of total imports. It was followed by Japan (X units), with a 1.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +5.0%.

In value terms, China ($X) constituted the largest supplier of upholstered seats with metal frames to Thailand, comprising 78% of total imports. The second position in the ranking was taken by Japan ($X), with a 2% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled +11.1%.

Import Prices by Country

The average metal frame upholstered seat import price stood at $X per unit in 2021, falling by -1.7% against the previous year. In general, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal frame upholstered seat import price decreased by -21.9% against 2017 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 32% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.8%).

Source: IndexBox Platform

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