Eastern Asia: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in Eastern Asia

In 2022, the East Asian wooden office furniture market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Wooden Office Furniture Production in Eastern Asia

In value terms, wooden office furniture production shrank modestly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Wooden Office Furniture Exports

Exports in Eastern Asia

In 2022, after two years of growth, there was significant decline in shipments abroad of wooden furniture of a kind used in offices, when their volume decreased by X% to X units. Total exports indicated tangible growth from 2012 to 2022: its volume 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. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then fell notably in the following year.

In value terms, wooden office furniture exports fell to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of X%. The level of export peaked at $X in 2021, and then fell in the following year.

Exports by Country

China (X units) represented roughly X% of total exports in 2022.

China was also the fastest-growing in terms of the wooden furniture of a kind used in offices exports, with a CAGR of X% from 2012 to 2022. While the share of China (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest wooden office furniture supplier in Eastern Asia.

In China, wooden office furniture exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, jumping by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Wooden Office Furniture Imports

Imports in Eastern Asia

In 2022, approx. X units of wooden furniture of a kind used in offices were imported in Eastern Asia; with a decrease of X% on the previous year. Overall, imports recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, wooden office furniture imports shrank markedly to $X in 2022. Over the period under review, imports continue to indicate a mild contraction. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Korea represented the main importer of wooden furniture of a kind used in offices in Eastern Asia, with the volume of imports recording X units, which was near X% of total imports in 2022. It was distantly followed by Hong Kong SAR (X units), Japan (X units) and Taiwan (Chinese) (X units), together mixing up a X% share of total imports. China (X units) followed a long way behind the leaders.

Imports into South Korea decreased at an average annual rate of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Japan (X%), Hong Kong SAR (X%) and China (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea, Taiwan (Chinese) and Japan increased by X, X and X percentage points, respectively.

In value terms, South Korea ($X) constitutes the largest market for imported wooden furniture of a kind used in offices in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with an X% share of total imports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual growth rate of value in South Korea amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

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

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

Source: IndexBox Platform

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