China: Wooden Furniture Treatments Market 2023

Wooden Furniture Treatments Market Size in China

After three years of growth, the Chinese wooden furniture treatments market decreased by -2.9% to $X in 2021. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Wooden Furniture Treatments Production in China

In value terms, wooden furniture treatments production contracted to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 28%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Wooden Furniture Treatments Exports

Exports from China

In 2021, overseas shipments of polishes and creams for wooden furniture and floors decreased by -40.4% to X tons, falling for the second consecutive year after four years of growth. Overall, exports, however, continue to indicate pronounced growth. The pace of growth was the most pronounced in 2019 when exports increased by 53%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, wooden furniture treatments exports contracted sharply to $X in 2021. In general, exports, however, posted buoyant growth. The growth pace was the most rapid in 2019 when exports increased by 51% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons), Hong Kong SAR (X tons) and Chile (X tons) were the main destinations of wooden furniture treatments exports from China, with a combined 54% share of total exports. Vietnam, the Philippines, Pakistan, Canada, Taiwan (Chinese), Australia, Thailand, New Zealand and Saudi Arabia lagged somewhat behind, together comprising a further 34%.

From 2012 to 2021, the biggest increases were in Canada (with a CAGR of +93.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wooden furniture treatments exported from China were Vietnam ($X), Hong Kong SAR ($X) and the United States ($X), together accounting for 55% of total exports. These countries were followed by Chile, the Philippines, Pakistan, Australia, Taiwan (Chinese), Thailand, Canada, New Zealand and Saudi Arabia, which together accounted for a further 31%.

In terms of the main countries of destination, Chile, with a CAGR of +82.0%, recorded 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 2021, the average wooden furniture treatments export price amounted to $X per ton, with an increase of 1.6% against the previous year. In general, export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wooden furniture treatments export price increased by +70.2% against 2016 indices. The pace of growth was the most pronounced in 2020 when the average export price increased by 33% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Furniture Treatments Imports

Imports into China

In 2021, after four years of decline, there was significant growth in supplies from abroad of polishes and creams for wooden furniture and floors, when their volume increased by 18% to X tons. Over the period under review, imports, however, continue to indicate a slight slump. The most prominent rate of growth was recorded in 2016 with an increase of 34%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, wooden furniture treatments imports soared to $X in 2021. The total import value increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by 39% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Germany (X tons), Denmark (X tons) and the United States (X tons) were the main suppliers of wooden furniture treatments imports to China, with a combined 74% share of total imports. These countries were followed by the UK, Sweden, Belgium, Japan, Australia, Thailand, Turkey, South Korea, Taiwan (Chinese) and Italy, which together accounted for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +59.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Denmark ($X) and the United States ($X) were the largest wooden furniture treatments suppliers to China, together comprising 76% of total imports. These countries were followed by Belgium, the UK, Japan, Sweden, Australia, Thailand, Taiwan (Chinese), Italy, Turkey and South Korea, which together accounted for a further 20%.

In terms of the main suppliers, Turkey, with a CAGR of +64.5%, saw the highest growth rate of 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 average wooden furniture treatments import price stood at $X per ton in 2021, stabilizing at the previous year. Overall, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wooden furniture treatments import price increased by +74.4% against 2016 indices. The pace of growth was the most pronounced in 2017 an increase of 37%. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Belgium ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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