Metal Office Furniture Market

The global metal office furniture market is expected to witness a steady increase in consumption, with a forecasted CAGR of +7.0% for the period from 2022 to 2030. Turkey remains the largest consumer of metal office furniture, with notable growth rates in consumption. The United States, China, and Germany are also significant players in the market. Production, imports, and exports of metal office furniture are explored, providing insights into pricing trends and market dynamics.

Market Forecast

Driven by increasing demand for metal office furniture worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +7.0% for the period from 2022 to 2030, which is projected to bring the market volume to 7.8M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.4% for the period from 2022 to 2030, which is projected to bring the market value to $34B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Metal Office Furniture

In 2022, approx. 4.5M tons of metal office furniture were consumed worldwide; waning by -11.6% compared with the previous year. In general, consumption, however, recorded perceptible growth. Over the period under review, global consumption reached the maximum volume at 8.9M tons in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

The global metal office furniture market size reduced to $20.6B in 2022, waning by -8.3% 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). Overall, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +11.3% against 2020 indices. Global consumption peaked at $27.7B in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Consumption By Country

Turkey (1.6M tons) remains the largest metal office furniture consuming country worldwide, comprising approx. 36% of total volume. Moreover, metal office furniture consumption in Turkey exceeded the figures recorded by the second-largest consumer, China (769K tons), twofold. The United States (351K tons) ranked third in terms of total consumption with a 7.7% share.

In Turkey, metal office furniture consumption increased at an average annual rate of +13.6% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: China (+3.6% per year) and the United States (+3.1% per year).

In value terms, the United States ($5.4B), Turkey ($3.9B) and China ($2.5B) were the countries with the highest levels of market value in 2022, with a combined 57% share of the global market. Indonesia, Pakistan, Egypt, South Korea, Germany and Mexico lagged somewhat behind, together comprising a further 14%.

Egypt, with a CAGR of +14.8%, saw the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of metal office furniture per capita consumption was registered in Turkey (19 kg per person), followed by South Korea (1.3 kg per person), the United States (1 kg per person) and Germany (0.9 kg per person), while the world average per capita consumption of metal office furniture was estimated at 0.6 kg per person.

From 2012 to 2022, the average annual growth rate of the metal office furniture per capita consumption in Turkey stood at +12.0%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: South Korea (+3.1% per year) and the United States (+2.4% per year).

Production

World Production of Metal Office Furniture

Global metal office furniture production fell to 4.6M tons in 2022, waning by -9.9% on the year before. Overall, production, however, showed notable growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by 50%. Global production peaked at 8.9M tons in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In value terms, metal office furniture production contracted to $20.6B in 2022 estimated in export price. In general, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +12.3% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 38% against the previous year. Over the period under review, global production hit record highs at $26.5B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Turkey (1.7M tons), China (1M tons) and the United States (252K tons), with a combined 64% share of global production.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +13.4%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Metal Office Furniture

In 2022, global metal office furniture imports shrank to 612K tons, with a decrease of -10.4% compared with the previous year. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 8.9%. As a result, imports reached the peak of 726K tons. From 2020 to 2022, the growth of global imports remained at a lower figure.

In value terms, metal office furniture imports rose to $3.3B in 2022. The total import value increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 19% against the previous year. Over the period under review, global imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports By Country

In 2022, the United States (106K tons), distantly followed by Germany (50K tons), the UK (39K tons), France (37K tons) and Belgium (28K tons) represented the largest importers of metal office furniture, together generating 43% of total imports. Canada (27K tons), the Netherlands (27K tons), Indonesia (25K tons), Australia (14K tons), Poland (13K tons), Japan (10K tons), Switzerland (10K tons) and Italy (10K tons) held a little share of total imports.

Imports into the United States increased at an average annual rate of +3.2% from 2012 to 2022. At the same time, Indonesia (+19.4%), Poland (+15.4%), Italy (+5.8%), the UK (+4.6%), Japan (+4.6%), the Netherlands (+3.8%), Switzerland (+3.3%), Belgium (+3.1%) and Germany (+1.9%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in the world, with a CAGR of +19.4% from 2012-2022. France experienced a relatively flat trend pattern. By contrast, Australia (-1.9%) and Canada (-2.2%) illustrated a downward trend over the same period. While the share of the United States (+3.9 p.p.), Indonesia (+3.4 p.p.), the UK (+2.1 p.p.) and Poland (+1.6 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($889M) constitutes the largest market for imported metal office furniture worldwide, comprising 27% of global imports. The second position in the ranking was held by Germany ($228M), with a 6.9% share of global imports. It was followed by France, with a 6.4% share.

In the United States, metal office furniture imports increased at an average annual rate of +8.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+4.4% per year) and France (+4.5% per year).

Import Prices By Country

The average metal office furniture import price stood at $5,406 per ton in 2022, increasing by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($8,530 per ton), while Indonesia ($1,832 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+5.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Metal Office Furniture

In 2022, the amount of metal office furniture exported worldwide amounted to 690K tons, increasing by 2.7% compared with 2021. The total export volume increased at an average annual rate of +2.4% 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 when exports increased by 24%. The global exports peaked at 703K tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, metal office furniture exports rose sharply to $3.5B in 2022. The total export value increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 15% against the previous year. The global exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports By Country

China represented the largest exporting country with an export of around 267K tons, which recorded 39% of total exports. Canada (75K tons) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (6.1%) and Germany (4.5%). Italy (27K tons), Belgium (23K tons), the Netherlands (22K tons), Poland (21K tons), Spain (21K tons), Taiwan (Chinese) (20K tons), the UK (14K tons), Malaysia (14K tons) and the Czech Republic (11K tons) took a relatively small share of total exports.

Exports from China increased at an average annual rate of +3.5% from 2012 to 2022. At the same time, the Netherlands (+11.3%), the Czech Republic (+8.8%), Turkey (+7.7%), Canada (+7.4%), Poland (+6.7%), Spain (+6.6%), Belgium (+5.1%) and Taiwan (Chinese) (+2.7%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +11.3% from 2012-2022. Germany and Italy experienced a relatively flat trend pattern. By contrast, Malaysia (-3.1%) and the UK (-3.3%) illustrated a downward trend over the same period. Canada (+4.1 p.p.), China (+3.9 p.p.), Turkey (+2.4 p.p.) and the Netherlands (+1.8 p.p.) significantly strengthened its position in terms of the global exports, while the UK saw its share reduced by -1.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($777M), Canada ($490M) and Italy ($231M) appeared to be the countries with the highest levels of exports in 2022, together comprising 43% of global exports. Germany, the UK, the Netherlands, Spain, Turkey, Poland, Taiwan (Chinese), Belgium, Malaysia and the Czech Republic lagged somewhat behind, together comprising a further 35%.

Among the main exporting countries, Poland, with a CAGR of +11.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average metal office furniture export price amounted to $5,082 per ton, surging by 8.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2014 an increase of 18% against the previous year. As a result, the export price attained the peak level of $5,321 per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the UK ($11,961 per ton), while Turkey ($2,816 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+8.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform