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Whether Soft urniture with flexible foam polyether can keep Medium-high growth?
Updated: 2017-10-17 15:03 Source: PUWORLD share:

In the traditional process, sofas, seats and back pad were made of cotton, foam latex,steel springs or other materials. With the development of chemical polyurethane, flexible polyurethane foam quickly won the market and was recognized by furniture factories by its low cost, light weight, good performance, being comparable with the foam latex.

The growth of soft furniture with flexible foam polyether in 2017 is expected to slow down.

At present, most Chinesefurnitureenterprisesachieved automation or semi-automatic manufacturing.Producing technology kept improving, and there rises some world famous furniture enterprises and furniture supporting companies.

From 2012 to 2016, the compound revenue growth rate of Chinese furniture manufacturing was about 12.0%,which maintaineda rapid growth. The total annual compound annual growth rate was about 11.7%.

Figure 1: 2016 years, downstream consumption of flexible polyurethane foam industry distribution unit: percentage

As for the consumption of flexible polyurethane foam, soft furniture accounted for43%,which was the largest proportion. So the development of soft furniture industry undoubtedly played a vital role in the development of flexible polyurethane foam industry.

Overall speaking, sales growth of downstream soft furniture industry in 2017 is good, with a sales growth of about 15% in mattress industry. But in sofa industry, the sales growth rateslowed down at 5%.

In the soft furniture, mattresses and sofas accounted for large proportions, which undoubtedly played a role in the development of soft furniture. According to the research of Orisage, many sponge factories and furniture manufacturers have raised the product price due to rising source material prices.That’s why the output growth in software furniture industry had little increase, in spite of the steady growth of total sales in the soft furniture industry. Orisage learned from the enterprises that the total growth of the soft furniture industry is expected to rise by 1-3%.

Orisagepredicts that the consumption of flexible polyurethane foam in soft furniture industry in 2017 is about 88-92 million tons.

Figure 2: 2015-2017 consumption of flexible polyurethane foam of soft furniture unit: million tons

Sales growth in Mattress industry in 2017 will maintain 15%. According to statistics, China's mattress consumption in 2016was about 54.1 billion yuan (8.18 billion US dollars), and the growth rate in the past five years was 13%, which has become the world's largest mattress consumer market.

At present, there are more than 1000 mattress enterprises in China, of which the annual output can reach more than 200,000 is about 20 or so. But most of the mattress companies are small and medium with uneven quality. With the improvement of living standard, people’s requirementsfor the quality of sleeping environment and the mattress are getting higher and higher. China's mattress market is expected to get larger.

Figure 3: 2015 - 2017 China mattress industry market statistics Unit: RMB 100 million

The growth of sofa industry slowed down in 2017

Presently, China's sofa manufacturing enterprises are mainly small and medium-sized, with relatively low concentration ratio, but recent sofa manufacturing industry began to improve product design and research as well asbrand promotion to strengthen their competitiveness and their advantages in the industry.

Data shows that from 2011 to 2015,sales growth rate China's sofa manufacturers remains 6.1%, up toRMB1507 billion in 2015. With the progress of urbanization in China and the increasing of urban house, China's sofa sale is expected to reach RMB 1.65 trillion in 2017.

Figure 4: 2015-2017 China's soft sofa sales trend unit: 100 billion

TDI reboundprice will continue to increase the costs of soft furniture.

Before the National Day, TDI market was declining a lot, but in the first week after the National Day, TDI prices started to reverse due to the tight sources.

Cangzhou Dahua supply will move into their one-month maintenance period on October 1. Meanwhile, Cangzhou Dahua rose the list price from RMB 37,000 /ton to RMB 40,000 /ton, but Kesichuang still maintained RMB 37,000/ Ton. Some divergences rise in TDI factories, so the market has different response. At the same time, South Korea Han Hua also entered the maintenance period in October, whose TDI production capacity was 150,000 tons.

According to the data of Orisage, foam enterprises generally felt resistant since the production costs has greatly moved up due to the high price of TDI. Therefore, the current downstream enterprises purchase based on their actual need, being reluctant to purchase much source. As TDI related products, the need of flexible foam polyether decreased a lot.

But November is still a peak month for downstream demand.With the approaching of Christmas and NewYear, the downstream condition is acceptable. Currently, TDI prices somewhat fell from its top. But thanks to the tight supply and good ordering conditionwe expected that future TDI price will callback withoutsharp falling.


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