Philippines - Metal Complete And Assembled Domestic Furniture - Market Analysis, Forecast, Size, Trends and Insights
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View PricingMetal Domestic Furniture Price in the Philippines - 2023
Contents:
- Metal Domestic Furniture Price in the Philippines (CIF) - 2023
- Metal Domestic Furniture Price in the Philippines (FOB) - 2023
- Metal Domestic Furniture Imports in the Philippines
- Metal Domestic Furniture Exports in the Philippines
Metal Domestic Furniture Price in the Philippines (CIF) - 2023
The average metal domestic furniture import price stood at $5,869 per ton in May 2023, increasing by 1.8% against the previous month. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 when the average import price increased by 3.8% month-to-month. As a result, import price reached the peak level of $6,069 per ton. From January 2023 to May 2023, the average import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In May 2023, the country with the highest price was Malaysia ($6,470 per ton), while the price for China stood at $5,849 per ton.
From June 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Malaysia (+1.2%).
Metal Domestic Furniture Price in the Philippines (FOB) - 2023
The average metal domestic furniture export price stood at $7,646 per ton in May 2023, with an increase of 7.5% against the previous month. In general, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $7,794 per ton in February 2023; however, from March 2023 to May 2023, the export prices failed to regain momentum.
Average prices varied noticeably for the major export markets. In May 2023, the highest price was recorded for prices to the United States ($8,342 per ton) and Japan ($8,292 per ton), while the average price for exports to Kuwait ($6,865 per ton) and Saudi Arabia ($6,865 per ton) were amongst the lowest.
From June 2022 to May 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+1.5%), while the prices for the other major destinations experienced more modest paces of growth.
Metal Domestic Furniture Imports in the Philippines
In 2022, imports of metal furniture into the Philippines expanded rapidly to 31K tons, growing by 13% against the previous year. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 36%. Imports peaked in 2022 and are likely to continue growth in the immediate term.
In value terms, metal domestic furniture imports surged to $181M in 2022. Over the period under review, total imports indicated noticeable growth from 2019 to 2022: its value increased at an average annual rate of +4.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 44%. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Metal Domestic Furniture in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 127 | 87.5 | 134 | 150 | 5.7% |
| Malaysia | 7.6 | 4.5 | 4.2 | 9.1 | 6.2% |
| Others | 22.5 | 13.3 | 13.8 | 22.2 | -0.4% |
| Total | 157 | 105 | 152 | 181 | 4.9% |
Top Suppliers of Metal Domestic Furniture to the Philippines in 2022:
- China (25.7K tons)
- Malaysia (1.6K tons)
Metal Domestic Furniture Exports in the Philippines
In 2022, exports of metal furniture from the Philippines soared to 5.4K tons, growing by 62% against the previous year's figure. Overall, exports enjoyed a strong increase. The pace of growth was the most pronounced in 2021 with an increase of 281%. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, metal domestic furniture exports skyrocketed to $42M in 2022. Over the period under review, exports recorded significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 298%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.
| Export of Metal Domestic Furniture in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 4.8 | 4.2 | 13.9 | 25.7 | 74.9% |
| Netherlands | 12.8 | 0.1 | 8.2 | 8.2 | -13.8% |
| Japan | 1.4 | 1.1 | 1.9 | 2.8 | 26.0% |
| United Arab Emirates | 0.4 | 0.3 | 0.4 | 1.8 | 65.1% |
| Others | 2.3 | 1.5 | 3.5 | 3.6 | 16.1% |
| Total | 21.7 | 7.0 | 28.0 | 42.1 | 24.7% |
Top Export Markets for Metal Domestic Furniture from the Philippines in 2022:
- United States (3.3K tons)
- Netherlands (1.2K tons)
- Japan (0.4K tons)
- United Arab Emirates (0.1K tons)
This report provides an in-depth analysis of the metal domestic furniture market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 31091100 - Metal furniture (excluding office, medical, surgical, dental or veterinary furniture, barbers
Country coverage:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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