Metal Frame Upholstered Seat Market

The article provides a comprehensive overview of the global market for upholstered seats with metal frames, indicating a steady increase in consumption, production, imports, and exports. Key data points include market forecast, growth trends, top consuming countries, production volumes, import and export statistics, and price analysis. The analysis covers the period from 2012 to 2022, with insights into the projected market performance up to 2030, highlighting significant growth patterns and fluctuations in the industry.

Market Forecast

Driven by increasing demand for upholstered seats with metal frames worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.6% for the period from 2022 to 2030, which is projected to bring the market volume to 260M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.8% for the period from 2022 to 2030, which is projected to bring the market value to $23.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Upholstered Seats With Metal Frames

In 2022, the amount of upholstered seats with metal frames consumed worldwide expanded notably to 249M units, picking up by 13% against the previous year. In general, the total consumption indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption hit record highs in 2022 and is likely to continue growth in the near future.

The global metal frame upholstered seat market size rose markedly to $19.2B in 2022, surging by 6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +58.5% against 2016 indices. Global consumption peaked in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (50M units), the United States (45M units) and Pakistan (11M units), with a combined 43% share of global consumption. Russia, Indonesia, Germany, Italy, the UK, Mexico, France, Japan, Turkey and Australia lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +10.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Russia ($2.5B), China ($2.1B) and Pakistan ($2B) appeared to be the countries with the highest levels of market value in 2022, with a combined 34% share of the global market. The United States, Turkey, Indonesia, Mexico, Germany, Italy, the UK, France, Australia and Japan lagged somewhat behind, together accounting for a further 42%.

In terms of the main consuming countries, Italy, with a CAGR of +11.4%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of metal frame upholstered seat per capita consumption in 2022 were Australia (180 units per 1000 persons), Italy (156 units per 1000 persons) and the United States (133 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +10.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Upholstered Seats With Metal Frames

Global metal frame upholstered seat production expanded to 331M units in 2022, with an increase of 3.3% compared with the year before. In general, production saw temperate growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 124% against the previous year. Global production peaked in 2022 and is likely to see steady growth in the near future.

In value terms, metal frame upholstered seat production expanded significantly to $22.4B in 2022 estimated in export price. Over the period under review, the total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.7% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 49%. Over the period under review, global production reached the peak level at $22.5B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

China (241M units) constituted the country with the largest volume of metal frame upholstered seat production, accounting for 73% of total volume. Moreover, metal frame upholstered seat production in China exceeded the figures recorded by the second-largest producer, Pakistan (11M units), more than tenfold. Vietnam (11M units) ranked third in terms of total production with a 3.4% share.

In China, metal frame upholstered seat production increased at an average annual rate of +3.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (+5.6% per year) and Vietnam (+12.7% per year).

Imports

World Imports of Upholstered Seats With Metal Frames

In 2022, the amount of upholstered seats with metal frames imported worldwide dropped modestly to 150M units, reducing by -2% compared with the year before. Overall, imports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2018 when imports increased by 44%. Over the period under review, global imports reached the maximum at 153M units in 2021, and then reduced modestly in the following year.

In value terms, metal frame upholstered seat imports expanded sharply to $8.6B in 2022. In general, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +75.9% against 2014 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 35%. Over the period under review, global imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports By Country

The United States was the major importing country with an import of about 46M units, which finished at 30% of total imports. Germany (11M units) ranks second in terms of the total imports with a 7.3% share, followed by the UK (5%). The Netherlands (6.6M units), Canada (6.4M units), France (6.1M units), Japan (5.4M units), Australia (4.9M units), Switzerland (3.8M units), Poland (2.9M units), the United Arab Emirates (2.6M units), Spain (2.5M units) and Thailand (2.4M units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to metal frame upholstered seat imports into the United States stood at +6.9%. At the same time, Poland (+20.9%), the Netherlands (+13.3%), the UK (+10.9%), Thailand (+6.7%), Canada (+5.9%), Germany (+5.2%), Spain (+4.9%), France (+4.8%), Australia (+4.0%), the United Arab Emirates (+2.8%), Switzerland (+2.2%) and Japan (+2.0%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the world, with a CAGR of +20.9% from 2012-2022. While the share of the United States (+2.9 p.p.), the Netherlands (+2.2 p.p.) and the UK (+1.8 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Japan (-1.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($1.7B) constitutes the largest market for imported upholstered seats with metal frames worldwide, comprising 20% of global imports. The second position in the ranking was held by Germany ($827M), with a 9.6% share of global imports. It was followed by the Netherlands, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value in the United States stood at +7.1%. In the other countries, the average annual rates were as follows: Germany (+8.1% per year) and the Netherlands (+16.8% per year).

Import Prices By Country

In 2022, the average metal frame upholstered seat import price amounted to $57 per unit, picking up by 9% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2015 when the average import price increased by 22% against the previous year. Global import price peaked at $64 per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($80 per unit), while Thailand ($20 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+5.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Upholstered Seats With Metal Frames

In 2022, after four years of growth, there was significant decline in overseas shipments of upholstered seats with metal frames, when their volume decreased by -8.7% to 232M units. Overall, exports, however, posted a measured increase. The most prominent rate of growth was recorded in 2018 with an increase of 322%. Over the period under review, the global exports attained the maximum at 254M units in 2021, and then shrank in the following year.

In value terms, metal frame upholstered seat exports fell modestly to $12.6B in 2022. In general, exports, however, posted a tangible expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 23% against the previous year. As a result, the exports attained the peak of $13B, and then shrank in the following year.

Exports By Country

China prevails in exports structure, recording 191M units, which was near 82% of total exports in 2022. The following exporters - Vietnam (8M units), the Netherlands (4.7M units), Poland (3.8M units) and Canada (3.8M units) - together made up 8.8% of total exports.

From 2012 to 2022, average annual rates of growth with regard to metal frame upholstered seat exports from China stood at +4.3%. At the same time, Vietnam (+89.0%), the Netherlands (+18.5%), Poland (+15.6%) and Canada (+12.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +89.0% from 2012-2022. While the share of Vietnam (+3.5 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of China (-4.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($8.6B) remains the largest metal frame upholstered seat supplier worldwide, comprising 68% of global exports. The second position in the ranking was held by Vietnam ($422M), with a 3.3% share of global exports. It was followed by Poland, with a 2.7% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +3.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+76.3% per year) and Poland (+13.6% per year).

Export Prices By Country

The average metal frame upholstered seat export price stood at $55 per unit in 2022, growing by 6.6% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 91%. As a result, the export price attained the peak level of $151 per unit. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Poland ($89 per unit), while China ($45 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-0.6%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform