A new report from IndexBox forecasts modest yet consistent growth for the global market of complete and assembled metal domestic furniture, which is projected to reach a value of $104.8 billion by 2035. The sector is set to grow at a +1.1% CAGR in volume and +1.8% in value, signalling a steady but cautious recovery and a sustained demand for durable and design-forward metal furnishings.
© Katarzyna Bialasiewicz | Dreamstime
In 2024, global consumption of metal domestic furniture climbed to 20 million tons, marking a recovery after two consecutive years of decline. The market's value also saw a 4.2% uptick, reaching $86 billion, although it still remains below the peak of $88.1 billion recorded in 2022. Despite fluctuations, overall consumption rose at an average annual rate of +2.7% from 2013 to 2024.
China, the United States, and India accounted for nearly half of global consumption in 2024, with China alone responsible for $20.4 billion in market value. On a per capita basis, the United States (8.9kg), Germany (6.6kg), and the UK (6.1kg) led the way.
Global production echoed consumption trends, rising by 7.3% in 2024 to hit 21 million tons. China remains the dominant producer, accounting for 55% of total output, followed by India and Indonesia. 'In China, metal domestic furniture production expanded at an average annual rate of +3.0% over the period from 2013–2024,' the report highlights.
Trade saw signs of recovery as well. Global imports rose 11% to reach 8.7 million tons, though still below the 2021 peak. The United States remains the world's largest importer, responsible for 34% of total imports. Meanwhile, the Philippines emerged as the fastest-growing importer, with a CAGR of +27.0%.
On the export front, China dominates, shipping out 6.5 million tons, or 73% of global exports. In terms of value, it commands $22.9 billion, followed by Germany and Vietnam. However, export prices dipped by 10.2% in 2024, with China offering some of the most competitive rates at $3,513 per ton, while Germany's high-end output commanded $7,947 per ton.
The report notes, 'The metal furniture market is anticipated to experience steady growth... highlighting the market's potential for expansion in the coming years.'
More information:
IndexBox Market Intelligence Platform
www.indexbox.io
