Belgium: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in Belgium

The Belgian plastic furniture fittings market surged to $X in 2021, picking up by 27% against the previous year. Over the period under review, consumption saw a remarkable increase. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Plastic Furniture Fittings Production in Belgium

In value terms, plastic furniture fittings production skyrocketed to $X in 2021 estimated in export price. In general, production, however, recorded a abrupt contraction. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Plastic Furniture Fittings Exports

Exports from Belgium

In 2021, overseas shipments of plastic fittings for furniture increased by 11% to X tons for the first time since 2016, thus ending a four-year declining trend. In general, exports, however, showed a noticeable downturn. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, plastic furniture fittings exports soared to $X in 2021. Overall, exports, however, continue to indicate a slight slump. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), France (X tons) and the UK (X tons) were the main destinations of plastic furniture fittings exports from Belgium, with a combined 47% share of total exports. These countries were followed by the Netherlands, China, Poland, Brazil, Malaysia, the Czech Republic, Italy, the United States, Spain and Luxembourg, which together accounted for a further 42%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +226.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic furniture fittings exported from Belgium were the Netherlands ($X), Germany ($X) and France ($X), together accounting for 41% of total exports. These countries were followed by the UK, China, Poland, Italy, Malaysia, Spain, Brazil, the Czech Republic, Luxembourg and the United States, which together accounted for a further 41%.

Malaysia, with a CAGR of +211.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average plastic furniture fittings export price amounted to $X per ton, with an increase of 10% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2013 an increase of 28%. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Luxembourg (+17.7%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Furniture Fittings Imports

Imports into Belgium

In 2021, overseas purchases of plastic fittings for furniture were finally on the rise to reach X tons after three years of decline. In general, imports, however, saw a deep slump. The most prominent rate of growth was recorded in 2016 when imports increased by 30% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, plastic furniture fittings imports amounted to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 29%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of plastic furniture fittings to Belgium, accounting for a 30% share of total imports. Moreover, plastic furniture fittings imports from Germany exceeded the figures recorded by the second-largest supplier, Sweden (X tons), twofold. The third position in this ranking was held by China (X tons), with a 9.5% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to -11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-11.9% per year) and China (+17.1% per year).

In value terms, the largest plastic furniture fittings suppliers to Belgium were Germany ($X), Sweden ($X) and Poland ($X), with a combined 42% share of total imports. These countries were followed by Turkey, France, China, the Netherlands, Spain, Italy and the UK, which together accounted for a further 35%.

Among the main suppliers, Turkey, with a CAGR of +87.8%, saw 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 average plastic furniture fittings import price stood at $X per ton in 2021, increasing by 6.3% against the previous year. Overall, the import price enjoyed buoyant growth. The pace of growth was the most pronounced in 2019 when the average import price increased by 67%. The import price peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+16.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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