Japan: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in Japan

The Japanese plastic furniture fittings market declined to $X in 2021, waning by -5.6% against the previous year. In general, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +3.9% against 2019 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Plastic Furniture Fittings Production in Japan

In value terms, plastic furniture fittings production dropped to $X in 2021 estimated in export price. Overall, the total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +5.7% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 84% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Plastic Furniture Fittings Exports

Exports from Japan

In 2021, approx. X tons of plastic fittings for furniture were exported from Japan; increasing by 15% against 2020 figures. In general, exports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of 41%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, plastic furniture fittings exports rose notably to $X in 2021. Over the period under review, exports showed resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by 65% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The Philippines (X tons), the United States (X tons) and China (X tons) were the main destinations of plastic furniture fittings exports from Japan, together comprising 51% of total exports. Vietnam, Mexico, Thailand, India, the UK, Russia, Malaysia, Indonesia, the Netherlands and Brazil lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +72.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic furniture fittings exported from Japan were the United States ($X), China ($X) and Vietnam ($X), together comprising 49% of total exports.

In terms of the main countries of destination, Vietnam, with a CAGR of +48.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average plastic furniture fittings export price amounted to $X per ton, which is down by -4.1% against the previous year. In general, the export price recorded a noticeable decrease. The pace of growth was the most pronounced in 2017 when the average export price increased by 17%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Brazil ($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 Thailand (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Furniture Fittings Imports

Imports into Japan

In 2021, plastic furniture fittings imports into Japan soared to X tons, increasing by 21% against the previous year's figure. Over the period under review, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, plastic furniture fittings imports expanded markedly to $X in 2021. Overall, total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -10.2% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 18%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest plastic furniture fittings supplier to Japan, accounting for a 51% share of total imports. Moreover, plastic furniture fittings imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), threefold. The Philippines (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+16.9% per year) and the Philippines (+18.3% per year).

In value terms, China ($X) constituted the largest supplier of plastic fittings for furniture to Japan, comprising 47% of total imports. The second position in the ranking was held by Vietnam ($X), with a 16% share of total imports. It was followed by Thailand, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+14.4% per year) and Thailand (+4.2% per year).

Import Prices by Country

In 2021, the average plastic furniture fittings import price amounted to $X per ton, which is down by -5.6% against the previous year. Overall, the import price recorded a slight slump. The pace of growth appeared the most rapid in 2017 an increase of 6.6% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+1.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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