Wooden Frame Upholstered Seat Market

The article provides a detailed analysis of the global market for upholstered seats with wooden frames, forecasting a continuous growth trend in both consumption volume and market value over the next eight years. It discusses consumption patterns, production volumes, imports, exports, and key players in the industry, highlighting countries with the highest volumes of consumption, production, and exports. The data suggests that the market is dynamic, with fluctuations in trends and prices over the years, driven by factors such as consumer demand, economic conditions, and production capabilities.

Market Forecast

Driven by increasing demand for upholstered seats with wooden frames worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.9% for the period from 2022 to 2030, which is projected to bring the market volume to 449M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.6% for the period from 2022 to 2030, which is projected to bring the market value to $89.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Upholstered Seats With Wooden Frames

Global wooden frame upholstered seat consumption stood at 388M units in 2022, picking up by 3% compared with the year before. The total consumption volume increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked in 2022 and is likely to continue growth in years to come.

The global wooden frame upholstered seat market size stood at $62.6B in 2022, remaining relatively unchanged 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). The market value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $72.3B. From 2018 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (95M units), the United States (68M units) and India (32M units), together comprising 50% of global consumption. Nigeria, Indonesia, Brazil, Bangladesh, Germany, the UK, Democratic Republic of the Congo, Mexico, Canada and Malaysia lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the biggest increases were recorded for Democratic Republic of the Congo (with a CAGR of +9.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest wooden frame upholstered seat markets worldwide were China ($11.6B), the United States ($7.8B) and Indonesia ($4.2B), with a combined 38% share of the global market. Nigeria, India, Mexico, Germany, the UK, Brazil, Canada, Democratic Republic of the Congo, Bangladesh and Malaysia lagged somewhat behind, together comprising a further 27%.

In terms of the main consuming countries, Democratic Republic of the Congo, with a CAGR of +10.2%, saw 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 wooden frame upholstered seat per capita consumption in 2022 were the United States (203 units per 1000 persons), Malaysia (185 units per 1000 persons) and Canada (167 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +6.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Upholstered Seats With Wooden Frames

In 2022, global production of upholstered seats with wooden frames totaled 376M units, flattening at 2021. The total output volume increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 17%. Over the period under review, global production attained the maximum volume at 378M units in 2020; however, from 2021 to 2022, production failed to regain momentum.

In value terms, wooden frame upholstered seat production shrank slightly to $63.5B in 2022 estimated in export price. Over the period under review, the total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.5% 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 +4.3% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 30% against the previous year. Global production peaked at $80.7B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

China (163M units) constituted the country with the largest volume of wooden frame upholstered seat production, accounting for 43% of total volume. Moreover, wooden frame upholstered seat production in China exceeded the figures recorded by the second-largest producer, India (32M units), fivefold. The third position in this ranking was taken by Poland (20M units), with a 5.2% share.

In China, wooden frame upholstered seat production increased at an average annual rate of +2.3% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+0.7% per year) and Poland (+6.6% per year).

Imports

World Imports of Upholstered Seats With Wooden Frames

In 2022, supplies from abroad of upholstered seats with wooden frames decreased by -7.4% to 141M units for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated noticeable growth from 2012 to 2022: its volume 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, imports increased by +9.0% against 2017 indices. The most prominent rate of growth was recorded in 2015 with an increase of 34%. Global imports peaked at 153M units in 2021, and then declined in the following year.

In value terms, wooden frame upholstered seat imports reduced modestly to $22.3B in 2022. In general, total imports indicated a temperate increase 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, imports increased by +28.5% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 33%. As a result, imports attained the peak of $23.1B, and then fell slightly in the following year.

Imports By Country

The United States was the key importer of upholstered seats with wooden frames in the world, with the volume of imports accounting for 70M units, which was approx. 50% of total imports in 2022. Germany (11M units) held a 7.8% share (based on physical terms) of total imports, which put it in second place, followed by the UK (4.6%). The following importers - France (6M units), Canada (5M units), Australia (4.1M units), Japan (2.8M units) and the Netherlands (2.8M units) - together made up 15% of total imports.

The United States was also the fastest-growing in terms of the upholstered seats with wooden frames imports, with a CAGR of +6.6% from 2012 to 2022. At the same time, Germany (+4.6%), the Netherlands (+3.7%), the UK (+3.4%), France (+2.7%), Canada (+2.6%) and Australia (+2.1%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. The United States (+8 p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($7.8B) constitutes the largest market for imported upholstered seats with wooden frames worldwide, comprising 35% of global imports. The second position in the ranking was taken by Germany ($2B), with an 8.8% share of global imports. It was followed by the UK, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at +7.4%. In the other countries, the average annual rates were as follows: Germany (+2.6% per year) and the UK (+5.4% per year).

Import Prices By Country

In 2022, the average wooden frame upholstered seat import price amounted to $158 per unit, with an increase of 4.2% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 39% against the previous year. As a result, import price reached the peak level of $220 per unit. From 2015 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($232 per unit), while the United States ($112 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+2.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Upholstered Seats With Wooden Frames

After four years of growth, shipments abroad of upholstered seats with wooden frames decreased by -14.1% to 130M units in 2022. In general, exports, however, showed a notable increase. The most prominent rate of growth was recorded in 2018 when exports increased by 109% against the previous year. The global exports peaked at 151M units in 2021, and then contracted in the following year.

In value terms, wooden frame upholstered seat exports fell to $22B in 2022. Over the period under review, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +17.3% against 2018 indices. The pace of growth appeared the most rapid in 2021 with an increase of 28% against the previous year. As a result, the exports attained the peak of $23.8B, and then shrank in the following year.

Exports By Country

China represented the major exporting country with an export of around 68M units, which reached 53% of total exports. Poland (17M units) ranks second in terms of the total exports with a 13% share, followed by Vietnam (6.6%). Romania (3.9M units), Italy (3.4M units), Mexico (3.3M units), Malaysia (3.2M units), Turkey (2.4M units) and the United States (2.1M units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to wooden frame upholstered seat exports from China stood at +1.1%. At the same time, Vietnam (+35.8%), Turkey (+18.5%), Romania (+15.5%), Mexico (+12.2%), Poland (+11.3%), Malaysia (+4.8%) and the United States (+1.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +35.8% from 2012-2022. By contrast, Italy (-4.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Poland, Vietnam and Romania increased by +6.7, +6.2 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($7.9B) remains the largest wooden frame upholstered seat supplier worldwide, comprising 36% of global exports. The second position in the ranking was taken by Poland ($2.8B), with a 13% share of global exports. It was followed by Italy, with a 9% share.

In China, wooden frame upholstered seat exports increased at an average annual rate of +3.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Poland (+5.5% per year) and Italy (+3.4% per year).

Export Prices By Country

In 2022, the average wooden frame upholstered seat export price amounted to $170 per unit, growing by 7.6% against the previous year. Overall, the export price posted slight growth. The pace of growth appeared the most rapid in 2015 when the average export price increased by 71% against the previous year. Over the period under review, the average export prices attained the peak figure at $323 per unit in 2017; however, from 2018 to 2022, the 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 Italy ($586 per unit), while Malaysia ($62 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform