Luxembourg: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in Luxembourg

For the third consecutive year, the Luxembourg plastic furniture fittings market recorded decline in sales value, which decreased by -6.8% to $X in 2021. Overall, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -19.0% against 2018 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Plastic Furniture Fittings Production in Luxembourg

In value terms, plastic furniture fittings production dropped modestly to $X in 2021 estimated in export price. In general, production, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 10% against the previous year. As a result, production attained the peak level of $X, and then shrank slightly in the following year.

Plastic Furniture Fittings Exports

Exports from Luxembourg

In 2021, overseas shipments of plastic fittings for furniture increased by 23% to X tons, rising for the third year in a row after three years of decline. Over the period under review, exports posted a strong increase. The pace of growth was the most pronounced in 2020 when exports increased by 104% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, plastic furniture fittings exports surged to $X in 2021. In general, exports, however, continue to indicate a perceptible descent. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey (X tons) was the main destination for plastic furniture fittings exports from Luxembourg, accounting for a 52% share of total exports. Moreover, plastic furniture fittings exports to Turkey exceeded the volume sent to the second major destination, Mexico (X tons), threefold. Germany (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey totaled +639.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+403.4% per year) and Germany (+27.7% per year).

In value terms, Germany ($X), Belgium ($X) and Mexico ($X) were the largest markets for plastic furniture fittings exported from Luxembourg worldwide, with a combined 72% share of total exports.

Mexico, with a CAGR of +298.5%, saw the highest growth rate of 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

In 2021, the average plastic furniture fittings export price amounted to $X per ton, increasing by 29% against the previous year. Overall, the export price, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2018 an increase of 31%. 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.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Turkey ($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 France (+4.8%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Furniture Fittings Imports

Imports into Luxembourg

In 2021, supplies from abroad of plastic fittings for furniture increased by 4.8% to X tons, rising for the second year in a row after three years of decline. In general, imports, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 when imports increased by 40% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, plastic furniture fittings imports amounted to $X in 2021. Overall, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.8% 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 -33.7% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 46% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of plastic furniture fittings to Luxembourg, with a 55% share of total imports. Moreover, plastic furniture fittings imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. France (X tons) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2021, the average annual growth rate of volume from Belgium stood at -5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.6% per year) and France (-17.4% per year).

In value terms, the largest plastic furniture fittings suppliers to Luxembourg were Belgium ($X), Germany ($X) and France ($X), with a combined 93% share of total imports. Slovakia lagged somewhat behind, accounting for a further 1.9%.

In terms of the main suppliers, Slovakia, with a CAGR of +39.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average plastic furniture fittings import price amounted to $X per ton, remaining constant against the previous year. In general, the import price posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by 74% against the previous year. Over the period under review, average import prices reached the peak figure 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 ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+25.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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