Asia-Pacific: Plastic Furniture Market 2024

Plastic Furniture Market Size in Asia-Pacific

The Asia-Pacific plastic furniture market stood at $X in 2021, remaining relatively unchanged against the previous year. The total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -6.2% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Plastic Furniture Production in Asia-Pacific

In value terms, plastic furniture production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 13%. The level of production peaked at $X in 2019; afterwards, it flattened through to 2021.

Plastic Furniture Exports

Exports in Asia-Pacific

For the seventh consecutive year, Asia-Pacific recorded growth in overseas shipments of furniture of plastic, which increased by 8.7% to X units in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +79.2% against 2012 indices. The pace of growth was the most pronounced in 2015 when exports increased by 20% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, plastic furniture exports skyrocketed to $X in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +90.9% against 2016 indices. The pace of growth appeared the most rapid in 2020 with an increase of 27% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

China dominates exports structure, accounting for X units, which was approx. 92% of total exports in 2021. Vietnam (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to plastic furniture exports from China stood at +7.3%. At the same time, Vietnam (+21.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +21.5% from 2012-2021. While the share of China (+4.7 p.p.) and Vietnam (+2.4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic furniture supplier in Asia-Pacific, comprising 87% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 5.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +8.8%.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per unit, increasing by 8.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2020 when the export price increased by 19%. Over the period under review, the export prices hit record highs in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Vietnam ($X per unit), while China stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+3.1%).

Plastic Furniture Imports

Imports in Asia-Pacific

In 2021, approx. X units of furniture of plastic were imported in Asia-Pacific; picking up by 21% on 2020 figures. The total import volume increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 26% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, plastic furniture imports surged to $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia (X units), Japan (X units) and Indonesia (X units) represented roughly 46% of total imports in 2021. It was distantly followed by Malaysia (X units), the Philippines (X units), South Korea (X units), Taiwan (Chinese) (X units), Vietnam (X units) and Thailand (X units), together constituting a 36% share of total imports.

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +44.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), Japan ($X) and the Philippines ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 44% share of total imports. These countries were followed by Vietnam, Taiwan (Chinese), South Korea, Indonesia, Thailand and Malaysia, which together accounted for a further 38%.

In terms of the main importing countries, Vietnam, with a CAGR of +49.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2021, increasing by 8.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2018 an increase of 19% against the previous year. Over the period under review, import prices reached the maximum in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Vietnam ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+17.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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