Asia: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in Asia

The Asian wooden office furniture market expanded to $X in 2023, growing by X% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Wooden Office Furniture Production in Asia

In value terms, wooden office furniture production reached $X in 2023 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Wooden Office Furniture Exports

Exports in Asia

In 2023, exports of wooden furniture of a kind used in offices in Asia expanded sharply to X units, surging by X% compared with the year before. 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 growth pace was the most rapid in 2017 with an increase of X% against the previous year. The volume of export peaked at X units in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, wooden office furniture exports expanded modestly to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. 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 somewhat lower figure.

Exports by Country

China was the key exporter of wooden furniture of a kind used in offices in Asia, with the volume of exports resulting at X units, which was approx. X% of total exports in 2023. Vietnam (X units) took the second position in the ranking, distantly followed by Malaysia (X units). All these countries together held approx. X% share of total exports. Turkey (X units) took a relatively small share of total exports.

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 2023. Vietnam and Turkey experienced a relatively flat trend pattern. Malaysia (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Vietnam (X p.p.) and Malaysia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual growth rate of value in China totaled X%. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Turkey (X% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2023, waning by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2022 when the export price increased by X%. The level of export peaked at $X per unit in 2015; however, from 2016 to 2023, the export prices stood at a somewhat lower figure.

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 Turkey ($X per unit), while Malaysia ($X per unit) 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 mixed trends in the export price figures.

Wooden Office Furniture Imports

Imports in Asia

In 2023, approx. X units of wooden furniture of a kind used in offices were imported in Asia; approximately equating the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

In value terms, wooden office furniture imports expanded significantly to $X in 2023. Over the period under review, imports saw a abrupt decrease. The most prominent rate of growth was recorded 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 remained at a lower figure.

Imports by Country

In 2023, the Philippines (X units), South Korea (X units) and Malaysia (X units) was the largest importer of wooden furniture of a kind used in offices in Asia, mixing up X% of total import. It was distantly followed by the United Arab Emirates (X units), committing a X% share of total imports. The following importers - Japan (X units), Thailand (X units), Kuwait (X units), Indonesia (X units), Israel (X units), Taiwan (Chinese) (X units), Hong Kong SAR (X units), Iraq (X units) and Singapore (X units) - together made up X% of total imports.

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

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

Malaysia, with a CAGR of X%, saw the highest rates of growth with regard to 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 unit in 2023, surging by X% against the previous year. In general, the import price, however, showed a abrupt shrinkage. The level of import peaked at $X per unit in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

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 Iraq ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform