U.S.: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in the U.S.

In 2021, the U.S. wooden office furniture market was finally on the rise to reach $X for the first time since 2015, thus ending a five-year declining trend. Over the period under review, consumption, however, saw a pronounced slump. Wooden office furniture consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Wooden Office Furniture Production in the U.S.

In value terms, wooden office furniture production rose to $X in 2021. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 6.8%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Wooden Office Furniture Exports

Exports from the U.S.

Wooden office furniture exports from the United States dropped notably to X units in 2021, declining by -31.6% against 2020 figures. In general, exports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 48% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, wooden office furniture exports amounted to $X in 2021. Over the period under review, exports saw a pronounced slump. The growth pace was the most rapid in 2017 with an increase of 16% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X units) was the main destination for wooden office furniture exports from the United States, with a 26% share of total exports. Moreover, wooden office furniture exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), twofold. The third position in this ranking was taken by the UK (X units), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada totaled -15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-9.4% per year) and the UK (+6.0% per year).

In value terms, Canada ($X) remains the key foreign market for wooden furniture of a kind used in offices exports from the United States, comprising 69% of total exports. The second position in the ranking was held by Mexico ($X), with a 7.9% share of total exports. It was followed by the UK, with a 1.5% share.

From 2012 to 2021, the average annual growth rate of value to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-8.2% per year) and the UK (-10.6% per year).

Export Prices by Country

The average wooden office furniture export price stood at $X per unit in 2021, increasing by 52% against the previous year. Over the period under review, the export price showed resilient growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 99%. Over the period under review, the average export prices attained the maximum in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to the UK ($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 Canada (+18.9%), while the prices for the other major destinations experienced mixed trend patterns.

Wooden Office Furniture Imports

Imports into the U.S.

In 2021, overseas purchases of wooden furniture of a kind used in offices increased by 14% to X units, rising for the sixth year in a row after three years of decline. Overall, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 46%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, wooden office furniture imports rose markedly to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 11% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X units), Canada (X units) and Finland (X units) were the main suppliers of wooden office furniture imports to the United States, with a combined 75% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +124.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wooden office furniture suppliers to the United States were Canada ($X), China ($X) and Vietnam ($X), with a combined 73% share of total imports. Mexico, Lithuania, Malaysia, Germany, Italy, Finland and the UK lagged somewhat behind, together accounting for a further 19%.

In terms of the main suppliers, Finland, with a CAGR of +67.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average wooden office furniture import price amounted to $X per unit, which is down by -6% against the previous year. In general, the import price faced a abrupt decrease. The growth pace was the most rapid in 2015 an increase of 13%. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for Finland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (-7.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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