Global Wooden Frame Market – U.S. ($330M) Is the Largest Market for Imports, with a 37% Share
IndexBox has just published a new report: ‘World – Wooden Frames For Paintings, Photographs, Mirrors Or Similar Objects – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.
The global wooden frame market is estimated at $5.2B in 2018, an increase of 5.4% against the previous year.
Global Wooden Frame Imports 2014-2018
In 2018, approx. 234M units of wooden frames for paintings, photographs, mirrors or similar objects were imported worldwide; waning by -2.3% against the previous year. Over the period under review, wooden frame imports continue to indicate a moderate drop. The global imports peaked at 262M units in 2014; however, from 2015 to 2018, imports remained at a lower figure.
In value terms, wooden frame imports amounted to $889M (IndexBox estimates) in 2018. Overall, wooden frame imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 10% year-to-year. Over the period under review, global wooden frame imports reached their maximum at $915M in 2014; however, from 2015 to 2018, imports failed to regain their momentum.
Imports by Country
The U.S. represented the key importer of wooden frames for paintings, photographs, mirrors or similar objects in the world, with the volume of supplies accounting for 80M units, which was near 34% of total imports in 2018. The UK (22M units) held a 9.6% share (based on tonnes) of total imports, which put it in second place, followed by Germany (9.3%) and Australia (5%). The following importers – France (8.5M units), Canada (8.1M units), Japan (7.5M units), the Netherlands (7.5M units), Spain (6.8M units), Belgium (6.5M units), Italy (5.4M units) and Sweden (5.2M units) – together made up 24% of total imports.
From 2014 to 2018, average annual rates of growth with regard to wooden frame imports into the U.S. stood at -3.4%. At the same time, Australia (+11.7%), the Netherlands (+3.9%), the UK (+2.1%) and Spain (+1.8%) displayed positive paces of growth. Moreover, Australia emerged as the fastest-growing importer imported in the world, with a CAGR of +11.7% from 2014-2018. By contrast, Canada (-1.4%), Sweden (-2.5%), France (-4.5%), Italy (-4.7%), Germany (-4.7%), Belgium (-6.5%) and Japan (-10.4%) illustrated a downward trend over the same period. Australia (+1.8 p.p.) significantly strengthened its position in terms of the global imports, while Japan, Germany and the U.S. saw its share reduced by -1.8%, -2% and -5.1% from 2014 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the U.S. ($330M) constitutes the largest market for imported wooden frames for paintings, photographs, mirrors or similar objects worldwide, comprising 37% of global imports. The second position in the ranking was occupied by Germany ($87M), with a 9.8% share of global imports. It was followed by the UK, with a 7.1% share.
Import Prices by Country
The average wooden frame import price stood at $3.8 per unit in 2018, going up by 13% against the previous year. Over the period from 2014 to 2018, it increased at an average annual rate of +2.2%.
Prices varied noticeably by the country of destination; the country with the highest price was Japan ($4.7 per unit), while Australia ($2.3 per unit) was amongst the lowest.
From 2014 to 2018, the most notable rate of growth in terms of prices was attained by Germany, while the other global leaders experienced more modest paces of growth.
Source: IndexBox AI Platform
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