Executive Briefings

Recycled Office Furniture Market in U.S. Expected to Near $2.7Bn by 2020

Technavio analysts forecast the recycled office furniture market in the United States to reach $2.68bn by 2020.

Brijesh Kumar Choubey, one of Technavio's lead analyst for research on retail goods and services, says, "With the competition in the market becoming more intense over the years, many vendors are using online media to enhance reach and overall value for customers, which include corporate businesses, small business owners, and home office furniture buyers. Manufacturers are also opting for direct marketing through catalogs."

Technavio consumer and retail analysts highlight the following three factors that are contributing to the growth of the recycled office furniture market in the US: the rise in number of offices in the U.S.; growing demand for customization of office furniture; and increased demand for eco-friendly office furniture.

The rise in the number of office buildings and technology parks has enhanced the sales of office furniture in the past few years. With multinational companies expanding their businesses into new cities and countries, and with the rise in the number of employees, office spaces across the country are also expanding. This is expected to lead to increased demand for recycled office furniture over the next five years.

The United States has been the world's largest recipient of foreign direct investment since 2006.

Customized and made-to-order furniture made out of recycled materials has been gaining significant customer interest in the last five years. With office and commercial spaces becoming increasingly conscious of the need to combine design with functionality and sustainability goals while also keeping costs to a minimum, a growing number of them are opting for customized recycled furniture. The rise of the home office work culture has also led to considerable demand for customized recycled furniture. Domestic manufacturers are using mass customization as a strategy to maintain their competitive edge, particularly with the import of furniture gaining ground.

Rising concerns about the preservation of the environment are leading to an increase in demand for recycled and green office furniture. Furniture manufacturers are increasingly using eco-friendly materials for their products. Vendors today are considering long-term ecological sustainability while manufacturing furniture products, and use wood that is sourced from sustainably grown forests. Metals used include a requisite quantity of recycled content, and substances that have heavy metals or tri-organic content are not used.

Source: Technavio

Brijesh Kumar Choubey, one of Technavio's lead analyst for research on retail goods and services, says, "With the competition in the market becoming more intense over the years, many vendors are using online media to enhance reach and overall value for customers, which include corporate businesses, small business owners, and home office furniture buyers. Manufacturers are also opting for direct marketing through catalogs."

Technavio consumer and retail analysts highlight the following three factors that are contributing to the growth of the recycled office furniture market in the US: the rise in number of offices in the U.S.; growing demand for customization of office furniture; and increased demand for eco-friendly office furniture.

The rise in the number of office buildings and technology parks has enhanced the sales of office furniture in the past few years. With multinational companies expanding their businesses into new cities and countries, and with the rise in the number of employees, office spaces across the country are also expanding. This is expected to lead to increased demand for recycled office furniture over the next five years.

The United States has been the world's largest recipient of foreign direct investment since 2006.

Customized and made-to-order furniture made out of recycled materials has been gaining significant customer interest in the last five years. With office and commercial spaces becoming increasingly conscious of the need to combine design with functionality and sustainability goals while also keeping costs to a minimum, a growing number of them are opting for customized recycled furniture. The rise of the home office work culture has also led to considerable demand for customized recycled furniture. Domestic manufacturers are using mass customization as a strategy to maintain their competitive edge, particularly with the import of furniture gaining ground.

Rising concerns about the preservation of the environment are leading to an increase in demand for recycled and green office furniture. Furniture manufacturers are increasingly using eco-friendly materials for their products. Vendors today are considering long-term ecological sustainability while manufacturing furniture products, and use wood that is sourced from sustainably grown forests. Metals used include a requisite quantity of recycled content, and substances that have heavy metals or tri-organic content are not used.

Source: Technavio