Folding furniture manufacturing in the U.S. market research Industry Report is now available from IBISWorld
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Los Angeles, CA (PRWEB) May 15, 2012
Despite growing demand for folding tables in many markets (eg schools, banquet halls, hotels, churches, hospitals) The folding furniture manufacturing industry is facing increasing pressure from price cheap imports and rising costs of raw materials, including aluminum, resin and plastic. In addition, manufacturers have been challenged by the recent economic downturn, which caused demand for folding furniture free fall in most markets downstream institutional and commercial industry. Consequently, industry revenue is estimated to decline at an average annual rate of 5.9% to about $ 144.3 million in the five years to 2012.
Growth in the volume of folding furniture imported created a strong business environment for domestic manufacturers. Low-cost imports have become increasingly popular on domestic goods and imports are expected to represent a significant share of domestic demand in 2012. The recession spurred price competition, and its impact on income levels and consumer spending led to a sharp fall in demand from wholesalers, retailers and industrial customers, including most school districts, hotels , banquet facilities and corporate event planning. Folding industry revenues Furniture narrowed from 2007 to 2009, with the largest decrease of 26.0% occurring in 2009. This year, the number of businesses and jobs also declined (11.4% and 22.0%, respectively) than companies struggling laid-off workers, closing plants or ceased operations entirely. High unemployment and low business sentiment during the recession has created an extremely competitive environment for existing players. Faced with shrinking margins and volatile input costs, many underperforming yet well established operators were forced to leave the market or move abroad. Most companies in the industry are privately owned and employ fewer than 30 people. Consequently, the share of industry concentration of the market is moderate and has increased over the last five years.
Although the industry is expected to grow revenues in 2012 and 2013, market saturation and intense competition from imports will limit growth until 2017. Meanwhile, imports are expected to represent a larger share of domestic demand. These trends will continue revenue growth relatively stable over the next five years. While the average profit of the industry has improved slightly since 2007, based on intense price competition and price volatility input will continue to squeeze profit over the next five years. Prices of raw materials needed for manufacturing, especially non-ferrous metals like aluminum, should rise as economic recovery boosts demand. To better compete in a saturated market, companies will increasingly turn to product innovation to gain market share, allowing them also to seek opportunities in export markets. For more information, visit the IBISWorld folding furniture manufacturing in the U.S. page industry report.
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IBISWorld Industry Report
Key topics
This industry manufactures folding furniture, including tables and chairs, which can be grouped for easy storage and are usually plastic or metal base. Folding beds, ladders, shelves, sofas, chairs, cabinets, carpets and seats of mobile furniture manufacturing operations are not included in this industry. Furniture exclusively for outdoor use is also excluded from this industry (see IBISWorld report OD4821, Furniture outdoor).
Industry Performance
Summary
Key External Factors
Current Performance
Industry Outlook
life cycle of the industry
Products and Markets
Supply Chain
Products & Services
major markets
Globalization and Trade
Business Places
Competitive Landscape
Market share concentration
The key success factors
the structure of cost benchmarks
Barriers to Entry
Large Enterprises
Terms of Use
Capital Intensity
Key Statistics
industry data
annual change
Key Ratios
About IBISWorld Inc.
Recognized as the nation’s most reliable independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on all industries of the United States. With a large portfolio online, appreciated for its depth and scope, the company equips clients with the insight needed to make better decisions. Based in Los Angeles, IBISWorld serves a range of services, professional service and government agencies in over 10 locations worldwide. For more information, visit or call 1-800-330-3772 http://www.ibisworld.com.
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