Republic of Korea - Metal Office Furniture - Market Analysis, Forecast, Size, Trends and Insights
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View PricingMetal Office Furniture Price in South Korea - 2022
Contents:
- Metal Office Furniture Price in South Korea (CIF) - 2022
- Metal Office Furniture Price in South Korea (FOB) - 2022
- Metal Office Furniture Imports in South Korea
- Metal Office Furniture Exports in South Korea
Metal Office Furniture Price in South Korea (CIF) - 2022
In December 2022, the average metal office furniture import price amounted to $3,418 per ton, rising by 12% against the previous month. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2022 an increase of 20% m-o-m. Over the period under review, average import prices hit record highs at $5,334 per ton in June 2022; however, from July 2022 to December 2022, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for China.
From December 2021 to December 2022, the rate of growth in terms of prices for China amounted to -1.1% per month.
Metal Office Furniture Price in South Korea (FOB) - 2022
In 2022, the average metal office furniture export price amounted to $8,045 per ton, picking up by 24% against the previous year. Overall, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal office furniture export price increased by +53.7% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 25% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($17,943 per ton), while the average price for exports to the Philippines ($1,840 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (+18.0%), while the prices for the other major destinations experienced more modest paces of growth.
Metal Office Furniture Imports in South Korea
In 2022, overseas purchases of metal office furniture decreased by -29.5% to 7.5K tons for the first time since 2018, thus ending a three-year rising trend. In general, imports showed a pronounced setback. The pace of growth appeared the most rapid in 2020 when imports increased by 21%.
In value terms, metal office furniture imports fell notably to $31M in 2022. Overall, total imports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +14.4% 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 +49.8% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 48%. As a result, imports reached the peak of $37M, and then reduced dramatically in the following year.
Import of Metal Office Furniture in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 16.3 | 20.1 | 27.5 | 21.1 | 9.0% |
Others | 4.3 | 4.7 | 9.3 | 9.8 | 31.6% |
Total | 20.6 | 24.8 | 36.8 | 30.9 | 14.5% |
Top Suppliers of Metal Office Furniture to South Korea in 2022:
- China (7.1K tons)
Metal Office Furniture Exports in South Korea
For the third consecutive year, South Korea recorded decline in shipments abroad of metal office furniture, which decreased by -15.2% to 513 tons in 2022. In general, exports recorded a dramatic downturn.
In value terms, metal office furniture exports stood at $4.1M in 2022. Overall, exports continue to indicate a deep reduction.
Export of Metal Office Furniture in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 827 | 2,510 | 1,847 | 1,878 | 31.4% |
New Zealand | 10.3 | 0.3 | 42.2 | 393 | 236.7% |
China | 1,253 | 189 | 143 | 258 | -40.9% |
United Arab Emirates | 545 | 187 | 81.5 | 252 | -22.7% |
Kenya | 54.3 | 82.1 | 14.8 | 183 | 49.9% |
Netherlands | 74.1 | 83.5 | 5.3 | 130 | 20.6% |
Algeria | 9.4 | N/A | 0.4 | 125 | 136.9% |
Philippines | 462 | 224 | 143 | 91.6 | -41.7% |
India | 183 | 36.9 | 210 | 41.8 | -38.9% |
Saudi Arabia | 43.4 | 73.4 | 19.4 | 39.2 | -3.3% |
Oman | 348 | 165 | 96.5 | 26.1 | -57.8% |
Qatar | 190 | 23.8 | 47.1 | N/A | -50.2% |
Others | 2,038 | 1,102 | 1,286 | 708 | -29.7% |
Total | 6,038 | 4,677 | 3,935 | 4,126 | -11.9% |
Top Export Markets for Metal Office Furniture from South Korea in 2022:
- United States (188.3 tons)
- Kenya (56.3 tons)
- Philippines (49.8 tons)
- United Arab Emirates (42.5 tons)
- New Zealand (26.3 tons)
- Netherlands (23.0 tons)
- China (14.4 tons)
- Saudi Arabia (10.6 tons)
- India (10.0 tons)
- Algeria (9.0 tons)
- Oman (6.4 tons)
This report provides an in-depth analysis of the metal office furniture market in Republic of Korea. 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 31011100 - Metal furniture for offices
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- 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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