U.S.: Office Furniture Market 2024

Office Furniture Market Size in the U.S.

The U.S. office furniture market amounted to $X in 2021, almost unchanged from the previous year. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Office Furniture Production in the U.S.

In value terms, office furniture production rose to $X in 2021. The total output value increased at an average annual rate of +1.5% from 2013 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 9.9% against the previous year. Office furniture production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Office Furniture Exports

Exports from the U.S.

For the fourth consecutive year, the United States recorded decline in shipments abroad of office furniture (except wood), which decreased by -3.4% to X tons in 2021. Overall, exports continue to indicate a significant decline. The most prominent rate of growth was recorded in 2017 when exports increased by 20%. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, office furniture exports totaled $X in 2021. In general, exports recorded a noticeable downturn. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Mexico (X tons), Hungary (X tons) and Canada (X tons) were the main destinations of office furniture exports from the United States, with a combined 68% share of total exports. These countries were followed by Ireland, China, Ethiopia, the UK, Jamaica, Thailand and Malaysia, which together accounted for a further 16%.

From 2013 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ethiopia (with a CAGR of +97.0%), while the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) remains the key foreign market for office furniture (except wood) exports from the United States, comprising 63% of total exports. The second position in the ranking was held by Mexico ($X), with a 7.9% share of total exports. It was followed by the UK, with a 2.5% share.

From 2013 to 2021, the average annual rate of growth in terms of value to Canada totaled -3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-8.4% per year) and the UK (-3.6% per year).

Export Prices by Country

In 2021, the average office furniture export price amounted to $X per ton, surging by 11% against the previous year. Over the period under review, the export price posted significant growth. The pace of growth was the most pronounced in 2020 when the average export price increased by 392%. The export price peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Ethiopia ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+79.9%), while the prices for the other major destinations experienced more modest paces of growth.

Office Furniture Imports

Imports into the U.S.

In 2021, overseas purchases of office furniture (except wood) decreased by -1.8% to X tons, falling for the second consecutive year after five years of growth. Overall, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 44%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, office furniture imports reached $X in 2021. In general, total imports indicated a resilient increase from 2013 to 2021: its value increased at an average annual rate of +7.9% over the last eight-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -11.1% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 37% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Canada (X tons), China (X tons) and Mexico (X tons) were the main suppliers of office furniture imports to the United States, with a combined 82% share of total imports. Taiwan (Chinese), the UK and Malaysia lagged somewhat behind, together comprising a further 12%.

From 2013 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +31.8%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Canada ($X) constituted the largest supplier of office furniture (except wood) to the United States, comprising 46% of total imports. The second position in the ranking was held by China ($X), with a 23% share of total imports. It was followed by Mexico, with a 9.7% share.

From 2013 to 2021, the average annual rate of growth in terms of value from Canada stood at +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.2% per year) and Mexico (+8.8% per year).

Import Prices by Country

The average office furniture import price stood at $X per ton in 2021, growing by 4.6% against the previous year. Over the period under review, the import price posted a significant expansion. The most prominent rate of growth was recorded in 2014 when the average import price increased by 128%. Over the period under review, average import prices attained the maximum in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+25.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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