China: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in China

In 2021, after two years of growth, there was significant decline in the Chinese plastic furniture fittings market, when its value decreased by -7.3% to $X. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Plastic Furniture Fittings Production in China

In value terms, plastic furniture fittings production dropped modestly to $X in 2021 estimated in export price. Overall, the total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.2% 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 +6.2% against 2018 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 57%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Plastic Furniture Fittings Exports

Exports from China

In 2021, shipments abroad of plastic fittings for furniture increased by 12% to X tons, rising for the fifth consecutive year after two years of decline. Overall, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 88% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, plastic furniture fittings exports skyrocketed to $X in 2021. Over the period under review, exports recorded a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for plastic furniture fittings exports from China, with a 33% share of total exports. Moreover, plastic furniture fittings exports to the United States exceeded the volume sent to the second major destination, Mexico (X tons), sevenfold. The third position in this ranking was held by Japan (X tons), with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+24.7% per year) and Japan (+10.4% per year).

In value terms, the United States ($X) remains the key foreign market for plastic fittings for furniture exports from China, comprising 27% of total exports. The second position in the ranking was taken by Japan ($X), with a 9.9% share of total exports. It was followed by Mexico, with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+15.5% per year) and Mexico (+10.0% per year).

Export Prices by Country

The average plastic furniture fittings export price stood at $X per ton in 2021, picking up by 17% against the previous year. In general, the export price, however, recorded a mild downturn. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Chile ($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 Japan (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Furniture Fittings Imports

Imports into China

Plastic furniture fittings imports into China soared to X tons in 2021, rising by 30% compared with the year before. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 74% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, plastic furniture fittings imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 51%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Austria (X tons), Germany (X tons) and Thailand (X tons) were the main suppliers of plastic furniture fittings imports to China, with a combined 62% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +91.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic furniture fittings suppliers to China were Austria ($X), Italy ($X) and Germany ($X), with a combined 66% share of total imports. These countries were followed by Japan, Thailand, the Czech Republic, Poland, South Korea, the United States, Malaysia and Taiwan (Chinese), which together accounted for a further 26%.

In terms of the main suppliers, Thailand, with a CAGR of +73.0%, recorded 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 fittings import price amounted to $X per ton, surging by 2.9% against the previous year. Over the period under review, import price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, plastic furniture fittings import price decreased by -31.1% against 2018 indices. The growth pace was the most rapid in 2017 an increase of 43%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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