Metal Furniture Market Size, Share & Growth

Metal furniture is making waves in the industry as of late. It is now gaining a lot of popularity not just in commercial and business spaces, but also in residential spaces. Discover how the metal furniture market has grown and its projected growth in size in the coming years.

Current State of Metal Furniture Market

Metal furniture is any type of furniture that uses various kinds of metal during its production. While wood and plastic continue to be among the top choices of materials for furniture manufacturing, metal furniture has carved its space in the market. Among the most popular types of metal used in furniture, manufacturing is iron, carbon steel, stainless steel, and aluminum.

Metal furniture is also used in both indoor and outdoor settings. This has contributed to its popularity and the growing demand for this type of furniture, especially with the rise of indoor-outdoor furniture trends. Cast iron, on the other hand, is the go-to choice for outdoor finishing and for the manufacture of furniture parts such as iron tables and bench legs.

The popularity of metal furniture is attributed to the hardness and heaviness of the material. This makes it an ideal choice in an outdoor setting as it is more resilient against all kinds of weather conditions. This makes it a practical investment for homeowners because this furniture can last for a long period of time. Not only that, it is in demand in various settings like hotels, restaurants, stores, and homes. Metal is used for making bed frames, dining chairs, tables, sofa frames, and many more.

Aside from the hardness and resilience of metal against the elements, one more thing that has attracted many to this type of furniture is the fact that it is environmentally friendly. There is a growing consciousness about sustainability in the furniture industry and this has led the way for metal furniture to gain steam. It has sustained growth and demand along with a few other eco-friendly materials such as wood and recycled materials like plastic.

This is not a new thing though; metal furniture has been one of the consistent performers in the industry for many decades now. It is only this time around that it has been able to mark its position, especially with the rise of unique and contemporary designs. Even though metal furniture is at risk of damage such as scratches and ink marks, it can be easily remedied. There are also plenty of metal finishes that can be used to enhance the appearance of this type of furniture.

The multi-functional and aesthetic value that metal furniture brings to consumers is what is helping drive its current growth rate. If you are interested in investing in this type of furniture, make sure that you learn about the growth drivers for this type of product to determine whether there will be a demand for it in the near future.

Impact of the Pandemic to the Market

The COVID-19 pandemic has undoubtedly impacted all aspects of society. Its impact is felt in every industry and the furniture industry was not immune to it. The lockdowns that were imposed at the height of the pandemic highly affected the manufacturing industry. As factories and manufacturing units were shut down, the metal furniture industry has lost a great deal in terms of output and revenue. There was an undeniable drop in demand and profit for metal furniture during the pandemic and the effects of that are still felt today.

The impact of the pandemic isn’t isolated on certain regions. It is felt on a global scale; the worldwide market of the metal furniture industry was badly hit.

But as the operations have resumed to nearly full normal capacity, the industry is quick to bounce back – and it is still bouncing back. The reason for the quick turnaround for the industry can be attributed to the benefits of the metal furniture as an investment, whether for residential or commercial spaces.

Furniture buyers find that metal furnishings are stylish and affordable. There are a variety of styles and designs to choose from that make it suitable for a wide range of home décor styles. Another reason why metal furniture was quick to recover is the practicality of this material; it is easy to clean and is not prone to pest damage. These factors are primarily the reason why consumers are opting for metal furniture as they are basically maintenance-free.

For furniture enthusiasts, however, there are some restraining factors that is limiting the growth potential of metal furniture. First off, it is a heavy material. The technology used in furniture manufacturing has evolved, though, such that metal iron and many other metal by-products are used for this type of furniture. This is considerably more lightweight and more practical to use for homeowners.

Global Forecast for Metal Furniture for 2022 and Beyond

The global metal furniture market is projected to be worth $266 billion by 2027. This is based on the 5-year market projection by various research bodies and market analysts. This projected value of the metal furniture market is based on the 10% CAGR within the 5-year forecast period of the industry.

Clearly, metal furniture is here to stay; at least in the immediate future. The manufacturers of metal furniture who are looking to solidify their position in the global market turn to a few factors and growth drivers. Some of the key players are utilizing mergers and acquisitions, product innovation, collaborations, and developments in order to fuel growth for the metal furniture industry.

Sustainability is also set to drive the demand for metal furniture. This is probably one of the most important trends that are going to play a factor in the furniture industry. Metal is one of the most sustainable materials that are going to benefit from that growth. In addition to that, newer technology is going to open up more possibilities in how metal is used in the innovation, design, and production of contemporary metal furniture.

This, along with the expanded distribution channels, will contribute to achieving the projected market value and share of metal furniture in the industry.