Feltrin: “The sector has navigated the storm better than others. Exports remain strong, closing at minus 2.3 percent. Salone del Mobile is more strategic than ever.”
The Italian wood-furniture sector closed 2024 with a production revenue of 51.6 billion euros, marking a minus 3.1 percent decline from 53.2 billion euros in 2023. This decline aligns with the market’s normalization after two years of strong growth. Domestic sales, which account for 60 percent of total revenue, dropped minus 3.5 percent to 32.2 billion euros, mainly due to reduced tax incentives. Exports, representing 38 percent of total revenue, decreased minus 2.3 percent, reaching 19.4 billion euros. The trade balance stood at nearly 8 billion euros, slightly down from 8.4 billion euros in 2023.
FederlegnoArredo president Claudio Feltrin considers the minus 3.1 percent decline moderate given current economic and geopolitical uncertainties. However, he warns that German and French economic struggles and potential Chinese imports due to U.S. tariffs could further challenge the sector in early 2025. To stay competitive, companies must explore new markets, invest in sustainability, digital transformation, and alternative energy sources, as energy costs remain a major concern.
Despite the market’s instability, Salone del Mobile 2025 remains a key business opportunity, reinforcing its importance for the industry.
FURNITURE MACRO-SYSTEM: EXPORT CHALLENGES AND KEY MARKETS
The furniture segment closed 2024 with 27.5 billion euros in revenue, marking a minus 2.5 percent decline. The drop was driven more by domestic sales, down minus 2.8 percent to 13.1 billion euros, than by exports, which fell minus 2.1 percent to 14.3 billion euros.
France, despite a minus 3.6 percent drop, remains the top market with a value of 1.96 billion euros. China experienced a sharp decline of minus 17.9 percent, reaching 313.5 million euros, though Italy remains its top supplier. Germany recorded minus 3.6 percent, with a total of 1.1 billion euros. The U.S. market grew plus 2 percent to 1.4 billion euros, but projections suggest it may turn negative by year-end. The strongest-growing markets were the United Arab Emirates, up plus 21.6 percent to 317.6 million euros, and Saudi Arabia, up plus 22.8 percent to 193.5 million euros.
WOOD MACRO-SYSTEM: CONTINUED DECLINE
The wood sector, excluding the wood trade, saw a minus 5.6 percent revenue drop, reaching 20.5 billion euros, mainly due to weak domestic demand, which fell minus 6.5 percent to 15.6 billion euros. Exports, accounting for 24 percent of total revenue, decreased minus 2.6 percent to just under 5 billion euros.
Germany and the United Kingdom experienced the steepest declines, down minus 11.4 percent to 588 million euros and minus 11.3 percent to 452 million euros, respectively. The United States saw growth of plus 9.6 percent to 366 million euros but remains uncertain. France was relatively stable with a minor decline of minus 1.8 percent to 657 million euros, though the year-end outlook could be worse.
OVERALL MARKET OUTLOOK
Among the top five export markets, the United States performed best, growing plus 3.5 percent to nearly 1.8 billion euros, though uncertainty remains. France declined minus 3.2 percent to 2.6 billion euros, while Germany fell minus 6.4 percent and the United Kingdom minus 7.9 percent. Spain dropped to sixth position, with a stable trend similar to Switzerland, which ranks fifth.
The United Arab Emirates continued strong growth, up plus 21.7 percent, adding 67 million euros compared to 2023, reaching a total of 376 million euros. Saudi Arabia grew plus 25.9 percent, increasing by 47.4 million euros to reach 230 million euros, ranking fourteenth.
Feltrin reaffirmed that Salone del Mobile 2025 will be a crucial event for the industry, providing global exposure and business opportunities.
