Asia: Market for Furnishing Articles, Furniture and Cushion Covers 2024

Market Size for Furnishing Articles, Furniture and Cushion Covers in Asia

The Asian market for furnishing articles, furniture and cushion covers declined to $X in 2022, with a decrease of X% against the previous year. In general, consumption, however, continues to indicate a notable increase. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Furnishing Articles, Furniture and Cushion Covers in Asia

In value terms, production of furnishing articles, furniture and cushion covers dropped slightly to $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production of growth remained at a somewhat lower figure.

Exports of Furnishing Articles, Furniture and Cushion Covers

Exports in Asia

Exports of furnishing articles, furniture and cushion covers contracted slightly to X tons in 2022, falling by X% on the previous year's figure. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then contracted slightly in the following year.

In value terms, exports of furnishing articles, furniture and cushion covers fell to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

China represented the key exporting country with an export of around X tons, which resulted at X% of total exports. India (X tons) took the second position in the ranking, distantly followed by Turkey (X tons). All these countries together held near X% share of total exports. Vietnam (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of furnishing articles, furniture and cushion covers. At the same time, India (X%) and Turkey (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Vietnam (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest furnishing article, furniture and cushion cover supplying countries in Asia were China ($X), India ($X) and Turkey ($X), together accounting for X% of total exports.

Among the main exporting countries, India, with a CAGR of X%, saw the highest growth rate of 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 2022, the export price in Asia amounted to $X per ton, waning by X% against the previous year. In general, the export price, however, showed slight growth. The growth pace was the most rapid in 2016 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced a decline in the export price figures.

Imports of Furnishing Articles, Furniture and Cushion Covers

Imports in Asia

Imports of furnishing articles, furniture and cushion covers contracted to X tons in 2022, dropping by X% against the previous year's figure. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by X%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of furnishing articles, furniture and cushion covers fell to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports of reached the maximum at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Japan (X tons), distantly followed by South Korea (X tons), Malaysia (X tons), Thailand (X tons), the United Arab Emirates (X tons) and India (X tons) represented the largest importers of furnishing articles, furniture and cushion covers, together achieving X% of total imports. Iraq (X tons), Myanmar (X tons), Kuwait (X tons), Saudi Arabia (X tons), Bangladesh (X tons), China (X tons) and Afghanistan (X tons) followed a long way behind the leaders.

Imports into Japan decreased at an average annual rate of X% from 2012 to 2022. At the same time, Myanmar (X%), Malaysia (X%), Afghanistan (X%), Bangladesh (X%), Thailand (X%), Kuwait (X%), India (X%), South Korea (X%) and China (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. Iraq experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. Malaysia (X p.p.), Thailand (X p.p.), South Korea (X p.p.), Myanmar (X p.p.), Kuwait (X p.p.), India (X p.p.), Bangladesh (X p.p.) and Afghanistan (X p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates, Saudi Arabia and Japan saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported furnishing articles, furniture and cushion covers in Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Japan was relatively modest. In the other countries, the average annual rates were as follows: South Korea (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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