Latin America and the Caribbean: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in Latin America and the Caribbean

In 2021, the Latin American plastic furniture fittings market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -22.3% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Plastic Furniture Fittings Production in Latin America and the Caribbean

In value terms, plastic furniture fittings production reduced slightly to $X in 2021 estimated in export price. The total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.0% 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 decreased by -10.8% against 2018 indices. The growth pace was the most rapid in 2017 with an increase of 27%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Plastic Furniture Fittings Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of plastic fittings for furniture increased by 100% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports recorded resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, plastic furniture fittings exports expanded sharply to $X in 2021. Overall, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of 36%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Mexico prevails in exports structure, reaching X tons, which was near 91% of total exports in 2021. It was distantly followed by Brazil (X tons), constituting a 6.2% share of total exports. Guatemala (X tons) followed a long way behind the leaders.

Mexico was also the fastest-growing in terms of the plastic fittings for furniture exports, with a CAGR of +17.7% from 2012 to 2021. At the same time, Guatemala (+8.5%) displayed positive paces of growth. By contrast, Brazil (-1.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico increased by +30 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest plastic furniture fittings supplier in Latin America and the Caribbean, comprising 89% of total exports. The second position in the ranking was taken by Brazil ($X), with an 8.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Mexico totaled +18.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (-4.6% per year) and Guatemala (+10.8% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, which is down by -42.9% against the previous year. Over the period under review, the export price continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2016 an increase of 61%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+2.1%), while the other leaders experienced mixed trends in the export price figures.

Plastic Furniture Fittings Imports

Imports in Latin America and the Caribbean

For the fourth year in a row, LatAmerica and the Caribbean recorded decline in supplies from abroad of plastic fittings for furniture, which decreased by -7.4% to X tons in 2021. Overall, imports, however, showed a pronounced expansion. The most prominent rate of growth was recorded in 2013 with an increase of 66% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, plastic furniture fittings imports surged to $X in 2021. Total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.3% 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 -7.9% against 2018 indices. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Mexico was the main importing country with an import of around X tons, which recorded 72% of total imports. It was distantly followed by Brazil (X tons) and Argentina (X tons), together generating a 19% share of total imports.

Mexico was also the fastest-growing in terms of the plastic fittings for furniture imports, with a CAGR of +7.2% from 2012 to 2021. Brazil experienced a relatively flat trend pattern. Argentina (-1.1%) illustrated a downward trend over the same period. While the share of Mexico (+13 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Argentina (-4.5 p.p.) and Brazil (-8.2 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) constitutes the largest market for imported plastic fittings for furniture in Latin America and the Caribbean, comprising 58% of total imports. The second position in the ranking was taken by Brazil ($X), with a 27% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Mexico amounted to +6.5%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+3.9% per year) and Argentina (-1.9% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, increasing by 40% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+4.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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