1.1 World Furniture Industry
Furniture industry has changed over the years. It no longer restricts itself to a production of achair or a table or a bed but today it includes manufacturing of a range of furniture and homefurnishings and designed interiors which spell class and elegance. There is a boom time forfurniture industry. Every country sport a string of furniture showrooms of all kinds and sizes.Changing lifestyle, disposable incomes, economy growth, increasing migration to urban areashave all contributed to the demand for furniture and in turn the growth of the furniture industryaswhole. Furniture industry comprises not only the production of a wide range of productsrelated to office, living room, bedroom, kitchen , garden, school furniture but also mattresses,furnishings, upholstery, parts of furniture etc. A wide variety of raw materials are used inproduction of furniture like wood, rattan, plastic and metal and more recently silver. Includingvarious varieties of wood, wooden furniture is the major production and exports of the furnitureindustry in almost every country.
1.2 The world furniture market :-
World production of furniture is worth about US$ 376 billion in current US$. This estimate isbased on CSIL processing of data from official sources, both national and international, thatcover the 60 most important countries.The seven major industrial economies (which are, in orderof furniture production, the United States, Italy,Germany, Japan, France, Canada and the UnitedKingdom) together produce about US$ 159 billion. The furniture production of all high incomecountries combined covers 58% of the world total.Furniture production in middle and lowincome countries currently amounts to 42% of the world total in value.There are three countries(China, Poland and Vietnam) where production is increasing rapidly thanks to investments innew plants especially designed and built for exports.World furniture trade basically involves 60countries. The leading importers are the United States, Germany,France and the UnitedKingdom. The major exporters are China, Italy, Germany and Poland.