Home / Lights & Construction

The upstream main body of China's mahogany furniture industry chain is local log mining companies, global mahogany material suppliers and furniture production equipment manufacturers. The main participants in the midstream are mahogany furniture manufacturers, responsible for the design, manufacturing and sales of mahogany furniture. The downstream involves the real estate industry and end consumers.

The new crown epidemic has hit the furniture industry. On the one hand, foreign wood cannot enter China, causing wood prices to rise. On the other hand, the real estate market is weak, and domestic furniture is in a low consumption.

The epidemic will eliminate some weak small companies, but the market stock of the furniture industry should not change in 2020, so large companies and brand companies that can survive will have more opportunities.

According to China Customs data, the number of Chinese mahogany furniture imports in 2019 is 209,850 pieces, and the number of Chinese mahogany furniture imports in 2020 is 219,155 pieces, which is an increase of 4.4% in 2020 compared to 2019.

In 2019, the number of Chinese mahogany furniture exports was 9,372, and in 2020, the number of Chinese mahogany furniture exports was 7,818, which is a 16.6% decrease in 2020 compared to 2019. China's mahogany furniture is mainly exported to Japan. In 2020, the number of mahogany furniture exported to Japan is 7152 pieces, accounting for 91.5% of China's total exports.

With the steady growth of China's stable macroeconomic environment, the size of China's wood furniture market has grown steadily. In 2019, the size of China's wood industry furniture market was 637.2 billion yuan. The market size is expected to reach 781.4 billion yuan in 2024.

Among them, the growth of the panel furniture market will stabilize, with an annual growth rate of 3.0% from 2019 to 2020 and a compound annual growth rate of 4.8% from 2020 to 2024. The panel furniture market is expected to reach 461.3 billion yuan in 2024. .