Asia: Metal Domestic Furniture Market 2024

Metal Domestic Furniture Market Size in Asia

The Asian metal domestic furniture market expanded markedly to $X in 2023, with an increase of X% against the previous year. Overall, consumption continues to indicate a resilient expansion. Over the period under review, the market attained the maximum level in 2023 and is expected to retain growth in the near future.

Metal Domestic Furniture Production in Asia

In value terms, metal domestic furniture production rose to $X in 2023 estimated in export price. The total production indicated a prominent increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

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Metal Domestic Furniture Exports

Exports in Asia

In 2023, overseas shipments of metal furniture decreased by X% to X tons, falling for the second consecutive year after seven years of growth. Total exports indicated a slight expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, metal domestic furniture exports fell to $X in 2023. Total exports indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

China prevails in exports structure, accounting for X tons, which was near X% of total exports in 2023. It was distantly followed by Vietnam (X tons), constituting a X% share of total exports. The following exporters - Taiwan (Chinese) (X tons) and Turkey (X tons) - together made up X% of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of metal furniture. At the same time, Vietnam (X%), Turkey (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. While the share of Vietnam (X p.p.) and Turkey (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of China (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest metal domestic furniture supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in China totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, which is down by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. The level of export peaked at $X per ton in 2022, and then shrank in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Metal Domestic Furniture Imports

Imports in Asia

In 2023, approx. X tons of metal furniture were imported in Asia; with an increase of X% compared with the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, metal domestic furniture imports fell slightly to $X in 2023. Total imports indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, Japan (X tons), distantly followed by South Korea (X tons), the United Arab Emirates (X tons), Indonesia (X tons), Taiwan (Chinese) (X tons) and India (X tons) represented the key importers of metal furniture, together committing X% of total imports. Saudi Arabia (X tons), Thailand (X tons), the Philippines (X tons), Malaysia (X tons), Iraq (X tons), Singapore (X tons) and Israel (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest metal domestic furniture importing markets in Asia were Japan ($X), South Korea ($X) and the United Arab Emirates ($X), together accounting for X% of total imports. Thailand, the Philippines, Taiwan (Chinese), India, Israel, Indonesia, Saudi Arabia, Iraq, Singapore and Malaysia lagged somewhat behind, together comprising a further X%.

The Philippines, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2023, waning by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of import peaked at $X per ton in 2022, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform