India: Plastic Furniture Market 2024

Plastic Furniture Market Size in India

For the tenth year in a row, the Indian plastic furniture market recorded growth in sales value, which increased by 0.1% to $X in 2021. The market value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in years to come.

Plastic Furniture Production in India

In value terms, plastic furniture production reduced modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.9% 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 2019 with an increase of 13%. Plastic furniture production peaked at $X in 2020, and then dropped in the following year.

Plastic Furniture Exports

Exports from India

In 2021, plastic furniture exports from India surged to X units, picking up by 30% compared with the previous year's figure. In general, total exports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +4.9% 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 decreased by -15.1% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 35%. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, plastic furniture exports skyrocketed to $X in 2021. Overall, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% 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 decreased by -20.6% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 46% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Nicaragua (X units), the United Arab Emirates (X units) and the United States (X units) were the main destinations of plastic furniture exports from India, together comprising 44% of total exports. These countries were followed by Panama, Gambia, Papua New Guinea, Haiti, Qatar, Honduras, Jamaica, El Salvador, Mauritius and Guinea-Bissau, which together accounted for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guinea-Bissau (with a CAGR of +178.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic furniture exported from India were Nicaragua ($X), the United Arab Emirates ($X) and the United States ($X), with a combined 44% share of total exports. Panama, Qatar, Papua New Guinea, Haiti, Gambia, Jamaica, El Salvador, Honduras, Mauritius and Guinea-Bissau lagged somewhat behind, together accounting for a further 25%.

Guinea-Bissau, with a CAGR of +131.7%, saw the highest rates of growth with regard to the value of exports, among 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

The average plastic furniture export price stood at $X per unit in 2021, shrinking by -5.8% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 14% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Guinea-Bissau ($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 the United Arab Emirates (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Furniture Imports

Imports into India

In 2021, the amount of furniture of plastic imported into India skyrocketed to X units, rising by 32% compared with the previous year's figure. Overall, imports showed a resilient expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 32%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, plastic furniture imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Bangladesh (X units) and Italy (X units) were the main suppliers of plastic furniture imports to India, together comprising 96% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bangladesh (with a CAGR of +22.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Bangladesh ($X) and Italy ($X) appeared to be the largest plastic furniture suppliers to India, with a combined 92% share of total imports.

Bangladesh, with a CAGR of +23.4%, saw the highest growth rate of the value of imports, among the main suppliers 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 import price stood at $X per unit in 2021, dropping by -3.4% against the previous year. In general, the import price saw a deep setback. The growth pace was the most rapid in 2013 when the average import price increased by 2.1%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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