China's metal domestic furniture market is forecast to reach 5.2 million tons in volume and $22.1 billion in value by 2035, according to a newly released report by market intelligence firm IndexBox. Despite a slowing pace of expansion, the report outlines a steadily growing appetite for metal furniture driven by evolving domestic demand and a shifting global trade landscape.
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Market outlook and consumption
The market is projected to grow at a compound annual growth rate (CAGR) of +0.5% in volume and +0.7% in value from 2024 to 2035. 'For the twelfth consecutive year, China recorded growth in consumption of metal furniture, which increased by 3.1% to 4.9M tons in 2024,' the report notes. This momentum follows a long-term trend averaging +2.9% annually since 2013.
The market value in 2024 stood at $20.4 billion, reflecting consistent growth despite fluctuations. Metal furniture consumption reached its highest point in 2024 and is expected to 'retain growth in the immediate term.'
Production trends
Following two years of decline, China's production rebounded significantly in 2024, up 14% to 11 million tons. 'The most prominent rate of growth was recorded in 2015 with an increase of 43% against the previous year,' the report stated. In value terms, production rose to $46.7 billion, though still below its 2021 peak of $49.9 billion.
Trade insights: imports and exports
Imports into China continued to decline, dropping -19.5% in volume to 7.8K tons in 2024, marking the sixth consecutive annual fall. Italy remained China's leading supplier, delivering 1.8K tons and accounting for 23% of total imports. 'In value terms, Italy ($83M) constituted the largest supplier of metal furniture to China, comprising 50% of total imports,' the report highlighted.
Meanwhile, exports surged 24% to 6.5 million tons in 2024, after two years of decline. 'The United States (2M tons) was the main destination for metal domestic furniture exports from China, with a 31% share of total exports.' In value terms, the US led with $6.2 billion, followed by Germany and the UK.
Export prices, however, fell by -12.4% to $3,513 per ton in 2024. "Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($49,740 per ton), while the price for Egypt ($2,242 per ton) was amongst the lowest."
More information:
IndexBox Market Intelligence Platform
www.indexbox.io
