Project report for Metal furniture

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Introduction

In India, Metal furniture is a type of furniture that mainly uses metal parts in its construction. There are various types of metal that can be used, such as iron, Carbon steel, aluminium and stainless steel. Iron and steel products are extensively used in many applications, ranging from office furnishings to outdoor settings. Cast Iron is used mainly for outdoor finishings and settings, such as those used for bench legs and solid iron tables. It is suited to outdoor use due to its hardness, heaviness and general tough composition. The main disadvantage to this is that it, being a relatively pure form of Iron is subject to corrosion at the hands of the moisture and air. Stainless Steel is used very extensively for most modern interior furnishings involving metal. Many hinges, slides, supports and body pieces are composed of Stainless. It has a high tensile strength, allowing it to be applied using hollow tubes, reducing weight and increasing user accessibility.

It is heavily utilized for stamped and cast furniture, especially in the category of molded chairs. Aluminum atoms form an outer layer of Aluminum Oxide, which prevents the internal aluminum from being corroded. Metal furniture is a popular choice of furnishings, especially used outdoors for decks and patios. However, metal furniture can also be used indoors, such as brass beds, brass tables, iron baker racks and metal curio cabinets. Besides being sturdy, metal furniture is attractive, giving a contemporary look to your home. To make it stand out, all it takes is a good polishing to give it added charm and character.

Market potential & Strategy

Furniture Market size exceeded INR 405,570 Crores in 2020. The industry is forecast to cross 62,496.5 Kilo Tons volume by 2027, growing at around 4.8% growth rate. Growing development of new residential projects across the globe is likely to drive the industry growth. The ongoing smart city developments along with growth of the construction industry is projected to create substantial demand for the furniture solutions. According to the International Data Corporation, the smart city projects across the globe are expected to interest technology investments of over INR 11,741 billion by 2022.The Indian furniture market is expected to witness strong growth during the forecast period.

The country's furniture market is expected to grow at a rapid pace due to the rising disposable incomes, the burgeoning middle class, and the growing number of urban households. In addition, the projected increase in the tourism and hospitality sectors is also expected to spur the demand for furniture in the country through 2019. The western and southern regions may continue to be the leading revenue generators due to developments.

Furthermore, the western and southern regions are likely to continue to be the leading revenue generators due to the expanding distribution network of furniture manufacturers in these regions. Uttar Pradesh, Kerala, Punjab, West Bengal, and Andhra Pradesh are the major suppliers of wood, which is the most widely used raw material in the country’s furniture market. With growing employment opportunities, the purchasing power of Indian consumers is increasing, which is consequently expected to continue and boost the demand for the designer as well as standardized furniture in the country in the forecast period.

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