Indonesia: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in Indonesia

In 2021, the Indonesian plastic furniture fittings market was finally on the rise to reach $X after two years of decline. In general, consumption posted a resilient increase. Plastic furniture fittings consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Plastic Furniture Fittings Exports

Exports from Indonesia

In 2021, approx. X tons of plastic fittings for furniture were exported from Indonesia; increasing by 69% compared with the previous year's figure. In general, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 139% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, plastic furniture fittings exports skyrocketed to $X in 2021. Overall, exports showed a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 143%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for plastic furniture fittings exports from Indonesia, accounting for a 48% share of total exports. Moreover, plastic furniture fittings exports to the United States exceeded the volume sent to the second major destination, Italy (X tons), threefold. The third position in this ranking was taken by Myanmar (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +23.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+78.1% per year) and Myanmar (+138.3% per year).

In value terms, the United States ($X), Italy ($X) and Germany ($X) constituted the largest markets for plastic furniture fittings exported from Indonesia worldwide, with a combined 72% share of total exports.

Italy, with a CAGR of +92.1%, recorded 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 fittings export price stood at $X per ton in 2021, shrinking by -5.8% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 92% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

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 Germany ($X per ton), while the average price for exports to Timor-Leste ($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 Germany (+42.6%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Furniture Fittings Imports

Imports into Indonesia

In 2021, supplies from abroad of plastic fittings for furniture was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports saw strong growth. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, plastic furniture fittings imports soared to $X in 2021. Over the period under review, imports recorded modest growth. The most prominent rate of growth was recorded in 2016 when imports increased by 68% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main plastic furniture fittings supplier to Indonesia, accounting for a 93% share of total imports. It was followed by South Korea (X tons), with a 1.4% share of total imports. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 1.2% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +19.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-8.5% per year) and Taiwan (Chinese) (-5.3% per year).

In value terms, China ($X) constituted the largest supplier of plastic fittings for furniture to Indonesia, comprising 68% of total imports. The second position in the ranking was taken by Japan ($X), with an 8.7% share of total imports. It was followed by South Korea, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +19.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-13.6% per year) and South Korea (-4.4% per year).

Import Prices by Country

In 2021, the average plastic furniture fittings import price amounted to $X per ton, declining by -2.8% against the previous year. In general, the import price showed a abrupt setback. The pace of growth was the most pronounced in 2016 an increase of 27% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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