Thailand: Wooden Frame Market 2024

Wooden Frame Market Size in Thailand

The Thai wooden frame market was estimated at $X in 2022, flattening at the previous year. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Wooden frame consumption peaked in 2022 and is expected to retain growth in years to come.

Wooden Frame Production in Thailand

In value terms, wooden frame production amounted to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2014 with an increase of 3.9% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Wooden Frame Exports

Exports from Thailand

For the tenth consecutive year, Thailand recorded decline in overseas shipments of wooden frames for paintings, photographs, mirrors or similar objects, which decreased by -4% to X units in 2022. Overall, exports continue to indicate a abrupt decline. The smallest decline of -3.7% was in 2016. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, wooden frame exports rose slightly to $X in 2022. In general, exports recorded a deep contraction. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for wooden frame exports from Thailand, accounting for a 58% share of total exports. Moreover, wooden frame exports to the United States exceeded the volume sent to the second major destination, Japan (X units), twofold. The third position in this ranking was taken by Australia (X units), with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled -20.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-11.1% per year) and Australia (-7.3% per year).

In value terms, the United States ($X) remains the key foreign market for wooden frames for paintings, photographs, mirrors or similar objects exports from Thailand, comprising 61% of total exports. The second position in the ranking was taken by Japan ($X), with a 25% share of total exports. It was followed by Australia, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at -14.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-9.2% per year) and Australia (-6.0% per year).

Export Prices by Country

The average wooden frame export price stood at $X per unit in 2022, growing by 6.8% against the previous year. In general, the export price recorded resilient growth. The pace of growth appeared the most rapid in 2020 an increase of 31%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per unit) and Japan ($X per unit), while the average price for exports to South Africa ($X per unit) and Australia ($X per unit) were 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 (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Frame Imports

Imports into Thailand

After three years of decline, supplies from abroad of wooden frames for paintings, photographs, mirrors or similar objects increased by 75% to X units in 2022. Over the period under review, imports, however, showed a mild downturn. Imports peaked at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, wooden frame imports soared to $X in 2022. In general, imports, however, continue to indicate a slight decrease. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of wooden frame to Thailand, accounting for a 84% share of total imports. Moreover, wooden frame imports from China exceeded the figures recorded by the second-largest supplier, Poland (X units), more than tenfold. Malaysia (X units) ranked third in terms of total imports with a 2.7% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+29.7% per year) and Malaysia (-20.6% per year).

In value terms, China ($X) constituted the largest supplier of wooden frames for paintings, photographs, mirrors or similar objects to Thailand, comprising 65% of total imports. The second position in the ranking was taken by the United States ($X), with a 13% share of total imports. It was followed by Poland, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+6.5% per year) and Poland (+34.3% per year).

Import Prices by Country

The average wooden frame import price stood at $X per unit in 2022, approximately mirroring the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 25% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+27.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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