Asia-Pacific: Metal Domestic Furniture Market 2024

Metal Domestic Furniture Market Size in Asia-Pacific

The Asia-Pacific metal domestic furniture market rose sharply to $X in 2023, surging by X% against the previous year. Overall, consumption posted buoyant growth. Over the period under review, the market hit record highs in 2023 and is likely to continue growth in years to come.

Metal Domestic Furniture Production in Asia-Pacific

In value terms, metal domestic furniture production expanded modestly to $X in 2023 estimated in export price. The total production 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, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

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Metal Domestic Furniture Exports

Exports in Asia-Pacific

In 2023, shipments abroad of metal furniture decreased by X% to X tons, falling for the second year in a row after seven years of growth. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded 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 failed to regain momentum.

In value terms, metal domestic furniture exports fell to $X in 2023. Total exports indicated temperate growth 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 pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

China prevails in exports structure, finishing at 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. Taiwan (Chinese) (X tons) took a relatively small share 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%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2023. Vietnam (X p.p.) significantly strengthened its position in terms of the total exports, while China 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 ($X) remains the largest metal domestic furniture supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in China stood at 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

The export price in Asia-Pacific stood at $X per ton in 2023, reducing by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of X%. The level of export peaked at $X per ton in 2022, and then dropped in the following year.

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

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

Metal Domestic Furniture Imports

Imports in Asia-Pacific

In 2023, overseas purchases of metal furniture decreased by X% to X tons, falling for the second year in a row after two years of growth. 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 throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, metal domestic furniture imports declined to $X in 2023. Total imports indicated a tangible 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 pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, Japan (X tons), distantly followed by South Korea (X tons), Australia (X tons), Indonesia (X tons), Taiwan (Chinese) (X tons) and India (X tons) were the major importers of metal furniture, together committing X% of total imports. The following importers - Thailand (X tons), the Philippines (X tons), Malaysia (X tons), Singapore (X tons), New Zealand (X tons) and Hong Kong SAR (X tons) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Australia ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Thailand, the Philippines, Taiwan (Chinese), India, Indonesia, New Zealand, Singapore, Malaysia and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, the Philippines, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The import price in Asia-Pacific stood at $X per ton in 2023, declining by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2022, 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 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