Updated Oct 2, 2022 16:24

Global Metal Domestic Furniture Market

Market Overview
After two years of decline, the global metal domestic furniture market increased by % to $ in . Over the period under review, consumption recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of %. Global consumption peaked at $ in 2018; however, from 2019 to , consumption remained at a lower figure.

In value terms, metal domestic furniture production rose modestly to $ in estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 when the production volume increased by %. Over the period under review, global production reached the maximum level at $ in 2019; however, from to , production stood at a somewhat lower figure.

China ( tons) remains the largest metal domestic furniture producing country worldwide, comprising approx. % of total volume. Moreover, metal domestic furniture production in China exceeded the figures recorded by the second-largest producer, India ( tons), sixfold. Indonesia ( tons) ranked third in terms of total production with a % share.

From 2007 to , the average annual growth rate of volume in China amounted to +%. The remaining producing countries recorded the following average annual rates of production growth: India (+% per year) and Indonesia (-% per year).


Consumption
In , after two years of decline, there was growth in consumption of metal furniture, when its volume increased by % to tons. Over the period under review, consumption, however, recorded a slight downturn. The growth pace was the most rapid in 2016 with an increase of %. Global consumption peaked at tons in 2019; however, from to , consumption failed to regain momentum.

The global metal domestic furniture market size amounted to $ in , approximately reflecting 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). In general, consumption, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the market value increased by %. Over the period under review, the global market attained the maximum level at $ in 2018; however, from 2019 to , consumption stood at a somewhat lower figure.


Consumption by Country
The countries with the highest volumes of consumption in were China ( tons), India ( tons) and the United States ( tons), with a combined % share of global consumption. Japan, Indonesia, the UK, France, Mexico, Bangladesh, Turkey, Germany, Canada and South Korea lagged somewhat behind, together accounting for a further %.

From 2007 to , the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by the UK (with a CAGR of +%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($) led the market, alone. The second position in the ranking was taken by India ($). It was followed by China.

From 2007 to , the average annual growth rate of value in the United States was relatively modest. The remaining consuming countries recorded the following average annual rates of market growth: India (+% per year) and China (-% per year).

From 2007 to , the average annual growth rate of the metal domestic furniture per capita consumption in No country was relatively modest.


Market Forecast
Driven by rising demand for metal domestic furniture worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

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