A new report published by IndexBox reveals that the global market for metal complete and assembled domestic furniture is projected to resume growth after recent setbacks, with volume expected to hit 24 million tons and value rising to $112.5 billion by 2035. The market is forecast to grow at a compound annual growth rate (CAGR) of +1.8% in volume and +2.6% in value over the 2024–2035 period.
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Despite a decline in 2024, where global consumption fell by 2.4% to 20 million tons, the long-term trend remains upward. 'Driven by increasing demand for metal furniture worldwide, the market is expected to see steady growth,' the report notes. From 2013 to 2024, the average annual growth in consumption was +3.5%.
The total market value in 2024 decreased by 4.1% to $84.6 billion, marking the second consecutive year of decline after peaking at $93.4 billion in 2022. This downturn reflects subdued momentum since the post-pandemic peak.
Key consumers and producers
China, the United States, and India emerged as the top consumers in 2024, together accounting for 46% of global consumption. In value terms, they represented 42% of the market, with China leading at $18.5 billion, followed by the United States ($9.5 billion) and India ($7.9 billion).
Per capita consumption was highest in the United States (8.8 kg), Turkey (6.9 kg), and Germany (6 kg). The United States showed a particularly robust growth rate, with a CAGR of +5.0% per capita from 2013 to 2024.
In terms of production, China remained dominant with 11 million tons in 2024, over half the world's output. India and Indonesia followed, producing 2 million and 767,000 tons respectively. 'From 2013 to 2024, the average annual growth rate of volume in China totaled +3.2%,' while Indonesia achieved the fastest growth among top producers at +5.0%.
Import and export dynamics
The global import volume of metal furniture rose in 2024 for the first time since 2021, reaching 8 million tons. The United States led imports at 2.9 million tons, comprising 37% of global imports. 'From 2013 to 2024, average annual rates of growth with regard to metal domestic furniture imports into the United States stood at +6.3%.'
In value terms, the U.S. also led with $10.2 billion, followed by Germany ($2.1 billion) and the UK ($1.5 billion). However, average global import prices declined by 7.6% to $4,119 per ton.
On the export side, global shipments rebounded by 10% to 8.7 million tons in 2024. China accounted for 75% of exports, with 6.5 million tons shipped. 'From 2013 to 2024, exports from China increased at an average annual rate of +3.0%.' Vietnam also saw strong export growth with a CAGR of +12.7%, reflecting rising competitiveness in Southeast Asia.
Export prices dropped 11.7% in 2024 to $4,490 per ton. Germany recorded the highest average price ($8,024 per ton), while China was among the lowest ($3,513 per ton).
Despite near-term volatility, the metal domestic furniture industry is positioned for long-term resilience, supported by rising demand and sustained investment in production capacity.
More information:
IndexBox Market Intelligence Platform
www.indexbox.io