Metal Domestic Furniture Market

The global metal furniture market is expected to continue an upward consumption trend over the next eight years, with market performance forecasted to decelerate but still expand. By 2030, the market volume is projected to reach 23M tons, with a value of $126B. Consumption and production of metal furniture experienced fluctuations, with notable growth recorded from 2012 to 2022. China, the United States, and India were the top consumers of metal furniture, while China dominated production. The United States was the main importing country, with Canada having the highest import price. After a decline in 2022, metal furniture exports are expected to rebound, with China as the largest exporter and Italy as the country with the highest export price.

Market Forecast

Driven by increasing demand for metal furniture worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.4% for the period from 2022 to 2030, which is projected to bring the market volume to 23M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market value to $126B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Metal Domestic Furniture

In 2022, consumption of metal furniture decreased by -5.8% to 21M tons for the first time since 2019, thus ending a two-year rising trend. Overall, the total consumption indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +4.8% 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 +75.5% against 2014 indices. As a result, consumption reached the peak volume of 22M tons, and then reduced in the following year.

The global metal domestic furniture market size contracted slightly to $99.4B in 2022, falling by -3.4% 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). Over the period under review, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 +77.0% against 2014 indices. As a result, consumption attained the peak level of $102.9B, and then reduced slightly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (5.8M tons), the United States (3.2M tons) and India (1.8M tons), with a combined 52% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by China (with a CAGR of +8.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest metal domestic furniture markets worldwide were China ($25B), the United States ($13.2B) and Thailand ($8.2B), with a combined 47% share of the global market.

China, with a CAGR of +8.3%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries 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 metal domestic furniture per capita consumption in 2022 were the United States (9.4 kg per person), the UK (6.7 kg per person) and Turkey (6.6 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by China (with a CAGR of +7.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Metal Domestic Furniture

In 2022, production of metal furniture decreased by -8.4% to 20M tons for the first time since 2019, thus ending a two-year rising trend. In general, the total production indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.5% 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 +61.9% against 2014 indices. The pace of growth appeared the most rapid in 2015 with an increase of 21% against the previous year. Global production peaked at 22M tons in 2021, and then declined in the following year.

In value terms, metal domestic furniture production shrank to $98.7B in 2022 estimated in export price. Over the period under review, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +57.0% against 2014 indices. The pace of growth appeared the most rapid in 2021 with an increase of 17%. As a result, production reached the peak level of $105.7B, and then shrank in the following year.

Production By Country

The country with the largest volume of metal domestic furniture production was China (11M tons), comprising approx. 56% of total volume. Moreover, metal domestic furniture production in China exceeded the figures recorded by the second-largest producer, India (1.8M tons), sixfold. Indonesia (771K tons) ranked third in terms of total production with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +4.2%. In the other countries, the average annual rates were as follows: India (+4.1% per year) and Indonesia (+6.8% per year).

Imports

World Imports of Metal Domestic Furniture

After ten years of growth, purchases abroad of metal furniture decreased by -15.3% to 8.9M tons in 2022. Overall, total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% 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 +61.4% against 2012 indices. The growth pace was the most rapid in 2021 with an increase of 22%. As a result, imports attained the peak of 10M tons, and then contracted dramatically in the following year.

In value terms, metal domestic furniture imports fell to $41.3B in 2022. In general, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +22.1% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 35%. As a result, imports reached the peak of $45.5B, and then contracted in the following year.

Imports By Country

The United States represented the main importing country with an import of about 3.1M tons, which accounted for 35% of total imports. Germany (672K tons) took the second position in the ranking, followed by the Netherlands (414K tons) and the UK (411K tons). All these countries together held near 17% share of total imports. France (392K tons), Japan (286K tons), Belgium (284K tons), Canada (229K tons), Spain (213K tons), Australia (188K tons), Poland (187K tons), Italy (150K tons) and South Korea (144K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to metal domestic furniture imports into the United States stood at +8.4%. At the same time, the Netherlands (+10.8%), South Korea (+10.6%), Belgium (+10.6%), Poland (+10.0%), Spain (+6.9%), Germany (+4.6%), the UK (+4.1%), Italy (+4.0%), France (+2.3%) and Canada (+1.7%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of +10.8% from 2012-2022. Japan experienced a relatively flat trend pattern. By contrast, Australia (-1.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States and the Netherlands increased by +9.8 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($11.8B) constitutes the largest market for imported metal furniture worldwide, comprising 29% of global imports. The second position in the ranking was held by Germany ($3.4B), with an 8.3% share of global imports. It was followed by the Netherlands, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to +4.3%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+6.8% per year) and the Netherlands (+11.4% per year).

Import Prices By Country

The average metal domestic furniture import price stood at $4,661 per ton in 2022, with an increase of 7.2% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 10%. Over the period under review, average import prices attained the maximum at $4,750 per ton in 2014; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($7,097 per ton), while Belgium ($2,918 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+7.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Metal Domestic Furniture

In 2022, after seven years of growth, there was significant decline in shipments abroad of metal furniture, when their volume decreased by -20.5% to 8.4M tons. The total export volume increased at an average annual rate of +2.0% 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 16% against the previous year. As a result, the exports attained the peak of 11M tons, and then shrank notably in the following year.

In value terms, metal domestic furniture exports dropped to $44.3B in 2022. Over the period under review, total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +58.4% against 2016 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 24%. As a result, the exports reached the peak of $51.3B, and then reduced in the following year.

Exports By Country

China dominates exports structure, recording 5.5M tons, which was approx. 66% of total exports in 2022. Germany (330K tons), the Netherlands (279K tons), Vietnam (252K tons), Taiwan (Chinese) (216K tons), Poland (188K tons), Italy (151K tons), Turkey (149K tons) and Canada (131K tons) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to metal domestic furniture exports from China stood at +1.3%. At the same time, Turkey (+16.3%), Vietnam (+14.8%), the Netherlands (+13.8%), Poland (+10.2%), Canada (+3.2%) and Germany (+1.4%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +16.3% from 2012-2022. Italy and Taiwan (Chinese) experienced a relatively flat trend pattern. From 2012 to 2022, the share of the Netherlands and Vietnam increased by +2.2 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($24.9B) remains the largest metal domestic furniture supplier worldwide, comprising 56% of global exports. The second position in the ranking was held by Germany ($2.3B), with a 5.3% share of global exports. It was followed by Vietnam, with a 4% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +3.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+0.7% per year) and Vietnam (+20.3% per year).

Export Prices By Country

In 2022, the average metal domestic furniture export price amounted to $5,279 per ton, increasing by 8.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($11,565 per ton), while Turkey ($3,278 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+4.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform