Latin America and the Caribbean: Plastic Furniture Market 2024

Plastic Furniture Market Size in Latin America and the Caribbean

The Latin American plastic furniture market was estimated at $X in 2021, surging by 6.3% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Plastic Furniture Production in Latin America and the Caribbean

In value terms, plastic furniture production totaled $X in 2021 estimated in export price. Overall, production, however, recorded a slight setback. The most prominent rate of growth was recorded in 2019 when the production volume increased by 39%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Plastic Furniture Exports

Exports in Latin America and the Caribbean

In 2021, plastic furniture exports in Latin America and the Caribbean soared to X units, jumping by 25% against the previous year. The total export volume increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic furniture exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, El Salvador (X units), distantly followed by Colombia (X units), Honduras (X units), Guatemala (X units), Mexico (X units) and Brazil (X units) represented the largest exporters of furniture of plastic, together comprising 90% of total exports. Costa Rica (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Honduras (with a CAGR of +39.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, El Salvador ($X), Mexico ($X) and Brazil ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 55% of total exports. Colombia, Honduras, Guatemala and Costa Rica lagged somewhat behind, together accounting for a further 36%.

Honduras, with a CAGR of +37.1%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2021, with a decrease of -1.9% against the previous year. Over the period under review, the export price saw a slight contraction. The pace of growth was the most pronounced in 2018 an increase of 9.7% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Brazil ($X per unit), while Honduras ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+1.7%), while the other leaders experienced a decline in the export price figures.

Plastic Furniture Imports

Imports in Latin America and the Caribbean

In 2021, purchases abroad of furniture of plastic was finally on the rise to reach X units after two years of decline. The total import volume increased at an average annual rate of +3.8% 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.

In value terms, plastic furniture imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Mexico (X units), distantly followed by Chile (X units), Honduras (X units), Guatemala (X units), Peru (X units), Nicaragua (X units), El Salvador (X units) and Panama (X units) represented the key importers of furniture of plastic, together making up 74% of total imports. Costa Rica (X units), Brazil (X units), Colombia (X units), Ecuador (X units) and the Dominican Republic (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to plastic furniture imports into Mexico stood at +4.7%. At the same time, El Salvador (+18.4%), Peru (+17.4%), Guatemala (+16.2%), Chile (+11.4%), Costa Rica (+7.7%), Honduras (+7.3%), the Dominican Republic (+4.8%) and Ecuador (+2.4%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +18.4% from 2012-2021. Colombia and Nicaragua experienced a relatively flat trend pattern. By contrast, Panama (-2.5%) and Brazil (-4.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Chile, Guatemala, Peru, El Salvador, Honduras and Mexico increased by +5.2, +4.6, +4.4, +4.1, +2.1 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported furniture of plastic in Latin America and the Caribbean, comprising 31% of total imports. The second position in the ranking was held by Chile ($X), with a 9.4% share of total imports. It was followed by Honduras, with a 6.1% share.

In Mexico, plastic furniture imports increased at an average annual rate of +4.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Chile (+6.4% per year) and Honduras (+6.9% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, approximately equating the previous year. Overall, the import price saw a mild curtailment. The growth pace was the most rapid in 2013 an increase of 3.5% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nicaragua (+2.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :