Overview of the international market of the furniture industry in 2012

2011 US furniture industry will continue to grow slowly

According to the latest forecast from the International Research Organization Milan Furniture Research Institute (CSIL), the US furniture industry will continue to grow slowly in 2011. Excluding the effects of price inflation, total US furniture consumption increased by 1% in 2010. According to CSIL's forecast, the next year will be the same as this year, with growth increasing at around 1%. According to forecasts, in the 70 countries covered by the 2011 World Furniture Market Outlook report, real furniture demand growth in 2011 was only 3.3%.

CSIL said that global GDP grew by 4.8% in 2010, and the growth rate in 2011 is still expected to be 4.8%. The GDP growth rate of developed countries in 2010 was only 2.7%, and the forecast for 2011 was 2.2%. The real driving force for development is the developing countries, whose GDP growth rate was 7.1% in 2010 and 6.4% in 2011.

The growth rate of the Russian soft furniture market is declining

More than one-third of Russia's soft-pack furniture production is concentrated in the Central Federal District, especially Moscow, Moscow Oblast, Yaroslavl Oblast and Ryazan Oblast. The second largest output of soft-pack furniture is the Federal District along the Volga River, and the third is the Northwest Federal District.

Despite the increase in production, Russia's export of soft-pack furniture is still decreasing. The imported products in the Russian upholstered furniture market account for a considerable proportion. In 2010, the import volume and value of goods both increased. Russia's largest supplier of soft-pack furniture is China and Italy.

The upholstered furniture market is one of the furniture market segments that was least affected by the economic crisis of 2008-2009. Unlike other parts of the furniture market, the soft-pack furniture market has actually returned to pre-crisis levels in 2010. This is due to the explosion of accumulated consumer demand for upholstered furniture, especially economic furniture. Analysts said that the upholstered furniture market will continue to maintain the pre-crisis development trend, the market growth rate began to slow down and reached 7% in 2014.

Burma stops processing wood

Myanmar has ceased the cooperation in processing materials from Myanmar Timber Company and private enterprises from the end of fiscal year 2010/11. The vice chairman of the association said that the main reason for stopping this method is that some private enterprises cannot obtain the payment for the goods within a specified time after receiving timber from the country through credit sales. Second, the Myanmar timber company will sell timber to private enterprises through other channels. (Quotes for Myanmar timber market, Myanmar timber manufacturers directory). The processing method of incoming materials has been implemented since January 2004. Initially, only 6 companies tried it out, and then it has grown to 100 companies. Before the method was stopped, there were 50 companies in Yangon, 10 companies in Mandalay, and 10 in Bogu. Companies are still operating in this way.

Incoming materials processing means that the Burmese Timber Company sells logs to private companies on credit, and the private companies produce finished products (sawn timber) and export them in the name of the Burmese Timber Company. Myanmar Timber Company stipulates to settle the payment within 3 months, but some companies are unable to settle the payment within 3 or 4 years. The Timber Company stipulates that if the payment is not settled within 3 months, a USD 10,000 fine will be paid to the Myanmar Timber Company every fiscal year. The main reason leading to the private company's inability to settle the payment was the economic sanctions imposed on Myanmar in 2007, which made it impossible to export wood products. Second, after the 2008 economic crisis, no high-end wooden furniture such as teak was purchased. The factory that originally adopted the processing method of incoming materials can export 7 to 100 containers a year, each container 12 to 15 tons. After this method is stopped, it will have a great impact on the enterprises and employees of the enterprises that adopt this method.

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