Malaysia: Plastic Furniture Market 2024

Plastic Furniture Market Size in Malaysia

In 2021, the Malaysian plastic furniture market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Plastic furniture consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Plastic Furniture Production in Malaysia

In value terms, plastic furniture production soared to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 36% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Plastic Furniture Exports

Exports from Malaysia

In 2021, the amount of furniture of plastic exported from Malaysia declined to X units, dropping by -14% against the year before. In general, exports showed a abrupt decline. The pace of growth was the most pronounced in 2018 when exports increased by 148% against the previous year. Over the period under review, the exports attained the maximum at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, plastic furniture exports shrank to $X in 2021. Over the period under review, exports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2018 with an increase of 118%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units), Singapore (X units) and Japan (X units) were the main destinations of plastic furniture exports from Malaysia, with a combined 60% share of total exports.

From 2012 to 2021, the biggest increases were in the United States (with a CAGR of +21.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic furniture exported from Malaysia were Singapore ($X), the United States ($X) and Japan ($X), with a combined 54% share of total exports. Australia, Hong Kong SAR, Indonesia, New Zealand, Papua New Guinea, the UK, Thailand and the United Arab Emirates lagged somewhat behind, together comprising a further 29%.

Hong Kong SAR, with a CAGR of +22.5%, saw the highest rates of growth with regard to the value of exports, in terms of 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 export price stood at $X per unit in 2021, rising by 4.5% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 27%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Papua New Guinea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Furniture Imports

Imports into Malaysia

In 2021, supplies from abroad of furniture of plastic increased by 61% to X units, rising for the second year in a row after two years of decline. In general, imports saw strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic furniture imports surged to $X in 2021. Overall, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.9% 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.

Imports by Country

In 2021, China (X units) was the main plastic furniture supplier to Malaysia, accounting for a 95% share of total imports. It was followed by Taiwan (Chinese) (X units), with a 2.3% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China totaled +14.5%.

In value terms, China ($X) constituted the largest supplier of plastic furniture to Malaysia, comprising 90% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 4% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to +12.1%.

Import Prices by Country

The average plastic furniture import price stood at $X per unit in 2021, declining by -2.3% against the previous year. In general, the import price showed a pronounced contraction. The pace of growth was the most pronounced in 2014 when the average import price increased by 28%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for China totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.8%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :