Eastern Asia: Market for Furnishing Articles, Furniture and Cushion Covers 2024

Market Size for Furnishing Articles, Furniture and Cushion Covers in Eastern Asia

The East Asian market for furnishing articles, furniture and cushion covers fell to $X in 2022, stabilizing at the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Production of Furnishing Articles, Furniture and Cushion Covers in Eastern Asia

In value terms, production of furnishing articles, furniture and cushion covers declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 of growth remained at a lower figure.

Exports of Furnishing Articles, Furniture and Cushion Covers

Exports in Eastern Asia

In 2022, after two years of growth, there was significant decline in shipments abroad of furnishing articles, furniture and cushion covers, when their volume decreased by X% to X tons. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021, and then contracted in the following year.

In value terms, exports of furnishing articles, furniture and cushion covers fell slightly to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then fell modestly in the following year.

Exports by Country

The shipments of the one major exporters of furnishing articles, furniture and cushion covers, namely China, represented more than two-thirds of total export.

China experienced a relatively flat trend pattern with regard to volume of exports of furnishing articles, furniture and cushion covers. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest furnishing article, furniture and cushion cover supplier in Eastern Asia.

In China, exports of furnishing articles, furniture and cushion covers expanded 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 ton, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2016 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices failed to regain momentum.

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.

Imports of Furnishing Articles, Furniture and Cushion Covers

Imports in Eastern Asia

In 2022, purchases abroad of furnishing articles, furniture and cushion covers decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of furnishing articles, furniture and cushion covers reduced to $X in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

Japan was the major importing country with an import of about X tons, which amounted to X% of total imports. South Korea (X tons) took the second position in the ranking, distantly followed by China (X tons). All these countries together held near X% share of total imports. The following importers - Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) - together made up X% of total imports.

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

In value terms, Japan ($X) constitutes the largest market for imported furnishing articles, furniture and cushion covers in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with an X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan was relatively modest. In the other countries, the average annual rates were as follows: South Korea (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the import prices remained at a somewhat lower figure.

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 China ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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