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

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

The Southeast Asian market for furnishing articles, furniture and cushion covers fell to $X in 2022, waning by X% against the previous year. The total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

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

In value terms, production of furnishing articles, furniture and cushion covers contracted modestly to $X in 2022 estimated in export price. The total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Furnishing Articles, Furniture and Cushion Covers

Exports in South-Eastern Asia

In 2022, approx. X tons of furnishing articles, furniture and cushion covers were exported in South-Eastern Asia; growing by X% on the previous year. Overall, exports, however, recorded a slight slump. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, the exports of hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of furnishing articles, furniture and cushion covers stood at $X in 2022. Over the period under review, exports, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam represented the main exporter of furnishing articles, furniture and cushion covers in South-Eastern Asia, with the volume of exports finishing at X tons, which was near X% of total exports in 2022. Thailand (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (X%) and Indonesia (X%).

From 2012 to 2022, average annual rates of growth with regard to furnishing article, furniture and cushion cover exports from Vietnam stood at X%. At the same time, Malaysia (X%), Thailand (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. Thailand (X p.p.) and Malaysia (X p.p.) significantly strengthened its position in terms of the total exports, while Vietnam saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest furnishing article, furniture and cushion cover supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Vietnam amounted to X%. In the other countries, the average annual rates were as follows: Thailand (X% per year) and Indonesia (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price saw a slight decline. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

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

Imports of Furnishing Articles, Furniture and Cushion Covers

Imports in South-Eastern Asia

In 2022, the amount of furnishing articles, furniture and cushion covers imported in South-Eastern Asia expanded notably to X tons, picking up by X% compared with 2021. Over the period under review, imports recorded a remarkable increase. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports of hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, imports of furnishing articles, furniture and cushion covers dropped to $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2018 indices. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, imports of attained the peak figure at $X in 2021, and then dropped in the following year.

Imports by Country

Malaysia (X tons) and Thailand (X tons) represented the largest importers of furnishing articles, furniture and cushion covers in 2022, reaching approx. X% and X% of total imports, respectively. Myanmar (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (X%), the Philippines (X%) and Indonesia (X%). Vietnam (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Myanmar (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest furnishing article, furniture and cushion cover importing markets in South-Eastern Asia were Malaysia ($X), Singapore ($X) and Thailand ($X), together accounting for X% of total imports. The Philippines, Vietnam, Indonesia and Myanmar lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Vietnam, with a CAGR of X%, saw 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 ton in 2022, waning by X% against the previous year. Over the period under review, the import price saw a perceptible descent. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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