Eastern Asia: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in Eastern Asia

The East Asian plastic furniture fittings market reduced to $X in 2021, waning by -7.1% against the previous year. The market value increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Plastic Furniture Fittings Production in Eastern Asia

In value terms, plastic furniture fittings production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +5.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by 20% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Plastic Furniture Fittings Exports

Exports in Eastern Asia

In 2021, overseas shipments of plastic fittings for furniture increased by 11% to X tons, rising for the fifth consecutive year after three years of decline. In general, exports recorded a remarkable increase. The growth pace was the most rapid in 2018 when exports increased by 62%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, plastic furniture fittings exports soared to $X in 2021. Total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.9% 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 +97.5% against 2012 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, finishing at X tons, which was approx. 85% of total exports in 2021. South Korea (X tons) ranks second in terms of the total exports with a 7.5% share, followed by Japan (4.5%). Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the plastic fittings for furniture exports, with a CAGR of +12.3% from 2012 to 2021. At the same time, Japan (+7.9%) and South Korea (+1.0%) displayed positive paces of growth. By contrast, Taiwan (Chinese) (-5.7%) illustrated a downward trend over the same period. While the share of China (+15 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Taiwan (Chinese) (-5.2 p.p.) and South Korea (-8.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic furniture fittings supplier in Eastern Asia, comprising 61% of total exports. The second position in the ranking was taken by South Korea ($X), with a 17% share of total exports. It was followed by Japan, with a 15% share.

In China, plastic furniture fittings exports expanded at an average annual rate of +11.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+3.7% per year) and Japan (+5.8% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, increasing by 11% against the previous year. Over the period under review, the export price, however, continues to indicate a mild decline. Over the period under review, the export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.9%), while the other leaders experienced mixed trends in the export price figures.

Plastic Furniture Fittings Imports

Imports in Eastern Asia

In 2021, the amount of plastic fittings for furniture imported in Eastern Asia surged to X tons, increasing by 20% against the previous year's figure. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 20% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, plastic furniture fittings imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +5.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X tons), distantly followed by China (X tons), South Korea (X tons), Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) were the key importers of plastic fittings for furniture, together achieving 100% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of +7.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic furniture fittings importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), with a combined 75% share of total imports. These countries were followed by Taiwan (Chinese) and Hong Kong SAR, which together accounted for a further 24%.

In terms of the main importing countries, Taiwan (Chinese), with a CAGR of +11.6%, 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

The import price in Eastern Asia stood at $X per ton in 2021, stabilizing at the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2014 an increase of 14%. Over the period under review, import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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