China: Plastic Furniture Market 2024

Plastic Furniture Market Size in China

After five years of growth, the Chinese plastic furniture market decreased by -21.2% to $X in 2021. Over the period under review, consumption, however, recorded a modest increase. Plastic furniture consumption peaked at $X in 2020, and then declined remarkably in the following year.

Plastic Furniture Production in China

In value terms, plastic furniture production dropped slightly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +71.5% against 2014 indices. The growth pace was the most rapid in 2016 when the production volume increased by 20%. Plastic furniture production peaked at $X in 2020, and then fell in the following year.

Plastic Furniture Exports

Exports from China

Plastic furniture exports from China amounted to X units in 2021, increasing by 8.6% compared with the year before. In general, total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +91.8% against 2014 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 25%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, plastic furniture exports soared to $X in 2021. Over the period under review, exports saw a prominent increase. The pace of growth appeared the most rapid in 2020 with an increase of 24% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

Exports by Country

The United States (X units) was the main destination for plastic furniture exports from China, accounting for a 31% share of total exports. Moreover, plastic furniture exports to the United States exceeded the volume sent to the second major destination, Mexico (X units), sixfold. Indonesia (X units) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+12.2% per year) and Indonesia (+29.1% per year).

In value terms, the United States ($X) remains the key foreign market for plastic furniture exports from China, comprising 30% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 5.1% share of total exports. It was followed by Japan, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+15.2% per year) and Japan (+10.6% per year).

Export Prices by Country

In 2021, the average plastic furniture export price amounted to $X per unit, rising by 8.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2020 an increase of 19%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Furniture Imports

Imports into China

In 2021, supplies from abroad of furniture of plastic decreased by -15.2% to X units, falling for the fourth consecutive year after four years of growth. In general, imports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2014 when imports increased by 73%. Over the period under review, imports attained the peak figure at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, plastic furniture imports amounted to $X in 2021. Over the period under review, imports, however, continue to indicate resilient growth. The growth pace was the most rapid in 2014 when imports increased by 33%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Japan (X units) constituted the largest supplier of plastic furniture to China, with a 41% share of total imports. Moreover, plastic furniture imports from Japan exceeded the figures recorded by the second-largest supplier, Vietnam (X units), threefold. The third position in this ranking was taken by Italy (X units), with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan totaled +48.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+50.6% per year) and Italy (-4.6% per year).

In value terms, Japan ($X), Italy ($X) and France ($X) constituted the largest plastic furniture suppliers to China, with a combined 65% share of total imports. South Korea, the United States, Taiwan (Chinese), Vietnam, Poland and the United Arab Emirates lagged somewhat behind, together accounting for a further 24%.

Among the main suppliers, Vietnam, with a CAGR of +47.5%, saw the highest rates of growth with regard to 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

In 2021, the average plastic furniture import price amounted to $X per unit, with an increase of 28% against the previous year. Overall, import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, plastic furniture import price increased by +77.0% against 2016 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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