South-Eastern Asia: Market for Upholstered Seats With Metal Frames 2024

Market Size for Upholstered Seats With Metal Frames in South-Eastern Asia

After five years of growth, the Southeast Asian metal frame upholstered seat market decreased by X% to $X in 2023. In general, consumption recorded strong growth. Over the period under review, the market reached the maximum level at $X in 2022, and then contracted modestly in the following year.

Production of Upholstered Seats With Metal Frames in South-Eastern Asia

In value terms, metal frame upholstered seat production stood at $X in 2023 estimated in export price. Overall, production recorded a prominent expansion. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2021; afterwards, it flattened through to 2023.

Exports of Upholstered Seats With Metal Frames

Exports in South-Eastern Asia

In 2023, shipments abroad of upholstered seats with metal frames increased by X% to X units, rising for the sixth year in a row after three years of decline. In general, exports enjoyed a buoyant expansion. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The volume of export peaked in 2023 and is expected to retain growth in years to come.

In value terms, metal frame upholstered seat exports shrank to $X in 2023. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The level of export peaked at $X in 2022, and then shrank in the following year.

Exports by Country

In 2023, Vietnam (X units) represented the key exporter of upholstered seats with metal frames, mixing up X% of total exports. Malaysia (X units) held the second position in the ranking, distantly followed by Thailand (X units) and Indonesia (X units). All these countries together took approx. X% share of total exports.

Vietnam was also the fastest-growing in terms of the upholstered seats with metal frames exports, with a CAGR of X% from 2012 to 2023. At the same time, Malaysia (X%), Thailand (X%) and Indonesia (X%) displayed positive paces of growth. Vietnam (X p.p.) significantly strengthened its position in terms of the total exports, while Indonesia, Thailand and Malaysia saw its share reduced by X%, X% and X% from 2012 to 2023, respectively.

In value terms, Vietnam ($X) remains the largest metal frame upholstered seat supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Vietnam stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2023, the export price in South-Eastern Asia amounted to $X per unit, falling by X% against the previous year. Over the period under review, the export price, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. The level of export peaked at $X per unit in 2020; however, from 2021 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 Indonesia ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

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

Imports of Upholstered Seats With Metal Frames

Imports in South-Eastern Asia

In 2023, supplies from abroad of upholstered seats with metal frames decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports, however, posted prominent growth. The pace of growth was the most pronounced in 2018 when imports increased by X%. The volume of import peaked at X units in 2022, and then fell modestly in the following year.

In value terms, metal frame upholstered seat imports dropped sharply to $X in 2023. Overall, imports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then dropped dramatically in the following year.

Imports by Country

Thailand (X units), Indonesia (X units) and Vietnam (X units) represented roughly X% of total imports in 2023. Malaysia (X units) took an X% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (X%). The following importers - Cambodia (X units) and Myanmar (X units) - each resulted at a X% share of total imports.

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

In value terms, the largest metal frame upholstered seat importing markets in South-Eastern Asia were Vietnam ($X), Indonesia ($X) and Thailand ($X), together comprising X% of total imports. Cambodia, the Philippines, Malaysia and Myanmar lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Myanmar, with a CAGR of X%, recorded 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 import price in South-Eastern Asia stood at $X per unit in 2023, waning by X% against the previous year. Import price indicated temperate growth from 2012 to 2023: its price 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, metal frame upholstered seat import price decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the import price increased by X% against the previous year. The level of import peaked at $X per unit in 2020; however, from 2021 to 2023, import prices failed to regain momentum.

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 Cambodia ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform