The ongoing conflict in the Middle East is expected to drive furniture price increases in the coming weeks, as oil prices approach $100 per barrel and disrupt supply chains.
© Robert Hale | Dreamstime
Manufacturers are already anticipating higher costs for oil-based materials, with projected increases including:
- Paint and finishes: +12% to 18%
- Foam (cushions): +20% to 30%
- Packaging materials (styrofoam): +30% to 40%+
- Additional pressures may come from rising shipping costs, as higher fuel prices push up container rates during upcoming contract renewals. This could significantly impact global furniture supply chains.
Other cost increases are also emerging, including wood materials (plywood, MDF) and labor in Vietnam (+7%), though oil-related inputs remain the biggest concern.
Manufacturers warn that price hikes may be unavoidable, with some suppliers already planning increases from April. Tariffs are further limiting the ability of companies to absorb these costs.
While some uncertainty remains, industry insiders expect retail prices to rise during the spring, adding pressure to an already slow furniture market.
Source: www.homenewsnow.com
