Asia: Metal Office Furniture Market 2024

Metal Office Furniture Market Size in Asia

The Asian metal office furniture market rose modestly to $X in 2023, with an increase of X% against the previous year. Over the period under review, consumption showed a prominent expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

Metal Office Furniture Production in Asia

In value terms, metal office furniture production rose sharply to $X in 2023 estimated in export price. Overall, production recorded strong growth. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

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Metal Office Furniture Exports

Exports in Asia

In 2023, approx. X tons of metal office furniture were exported in Asia; jumping by X% on the previous year's figure. Total exports indicated perceptible growth from 2012 to 2023: its volume 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 increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. The volume of export peaked in 2023 and is expected to retain growth in years to come.

In value terms, metal office furniture exports stood at $X in 2023. Total exports indicated a prominent 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 increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in years to come.

Exports by Country

China dominates exports structure, recording X tons, which was approx. X% of total exports in 2023. Turkey (X tons) ranks second in terms of the total exports with a X% share, followed by Taiwan (Chinese) (X%). Malaysia (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, Turkey (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, Malaysia (X%) illustrated a downward trend over the same period. China (X p.p.) and Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest metal office furniture supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with an 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 amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2023, the export prices failed to regain momentum.

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 Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

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

Metal Office Furniture Imports

Imports in Asia

Metal office furniture imports expanded markedly to X tons in 2023, with an increase of X% on 2022 figures. Overall, imports, however, recorded a mild slump. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, metal office furniture imports shrank slightly to $X in 2023. In general, imports, however, continue to indicate a mild decline. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Indonesia (X tons), distantly followed by Japan (X tons), Saudi Arabia (X tons), South Korea (X tons), the United Arab Emirates (X tons), Singapore (X tons) and Hong Kong SAR (X tons) were the key importers of metal office furniture, together making up X% of total imports. Malaysia (X tons), India (X tons), the Philippines (X tons), Iraq (X tons), Kuwait (X tons) and Democratic People's Republic of Korea (X tons) followed a long way behind the leaders.

Indonesia was also the fastest-growing in terms of the metal office furniture imports, with a CAGR of X% from 2012 to 2023. At the same time, Democratic People's Republic of Korea (X%), Malaysia (X%), South Korea (X%), India (X%), Japan (X%), the Philippines (X%) and Kuwait (X%) displayed positive paces of growth. Iraq experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (X%), Singapore (X%), Hong Kong SAR (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of Indonesia (X p.p.), South Korea (X p.p.), Japan (X p.p.), Malaysia (X p.p.), India (X p.p.), Democratic People's Republic of Korea (X p.p.) and the Philippines (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Hong Kong SAR (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X), Indonesia ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2023, together comprising X% of total imports.

Indonesia, with a CAGR of X%, recorded 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

In 2023, the import price in Asia amounted to $X per ton, waning by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped 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 Singapore ($X per ton), while Democratic People's Republic of Korea ($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