MENA: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in MENA

In 2021, the MENA's 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. In general, consumption enjoyed a remarkable increase. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Plastic Furniture Fittings Production in MENA

In value terms, plastic furniture fittings production soared to $X in 2021 estimated in export price. Over the period under review, production showed prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 46%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Plastic Furniture Fittings Exports

Exports in MENA

In 2021, the amount of plastic fittings for furniture exported in MENA soared to X tons, growing by 20% against 2020. Total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -10.4% against 2019 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 23%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, plastic furniture fittings exports soared to $X in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -10.2% against 2017 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 38% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey represented the main exporter of plastic fittings for furniture in MENA, with the volume of exports accounting for X tons, which was approx. 64% of total exports in 2021. Tunisia (X tons) took a 10% share (based on physical terms) of total exports, which put it in second place, followed by Morocco (10%) and the United Arab Emirates (9.3%). Saudi Arabia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to plastic furniture fittings exports from Turkey stood at +8.4%. At the same time, Morocco (+43.2%), Saudi Arabia (+8.3%) and the United Arab Emirates (+5.0%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in MENA, with a CAGR of +43.2% from 2012-2021. By contrast, Tunisia (-2.9%) illustrated a downward trend over the same period. While the share of Turkey (+9.7 p.p.) and Morocco (+9.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Tunisia (-13 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest plastic furniture fittings supplier in MENA, comprising 54% of total exports. The second position in the ranking was held by Morocco ($X), with a 16% share of total exports. It was followed by Tunisia, with a 12% share.

In Turkey, plastic furniture fittings exports expanded at an average annual rate of +6.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Morocco (+41.7% per year) and Tunisia (-4.7% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, growing by 13% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 18% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices remained at a 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 Morocco ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.3%), while the other leaders experienced mixed trends in the export price figures.

Plastic Furniture Fittings Imports

Imports in MENA

In 2021, approx. X tons of plastic fittings for furniture were imported in MENA; growing by 28% on 2020 figures. The total import volume increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, plastic furniture fittings imports surged to $X in 2021. The total import value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded 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, Saudi Arabia (X tons), distantly followed by the United Arab Emirates (X tons), Turkey (X tons), Morocco (X tons), Iraq (X tons) and Egypt (X tons) represented the key importers of plastic fittings for furniture, together committing 78% of total imports. Israel (X tons), Algeria (X tons), Libya (X tons), Iran (X tons), Tunisia (X tons) and Lebanon (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +17.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic furniture fittings importing markets in MENA were Turkey ($X), Egypt ($X) and the United Arab Emirates ($X), together comprising 50% of total imports. These countries were followed by Morocco, Saudi Arabia, Israel, Tunisia, Iraq, Algeria, Iran, Libya and Lebanon, which together accounted for a further 43%.

In terms of the main importing countries, Saudi Arabia, with a CAGR of +13.9%, recorded the highest rates of growth with regard to 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 import price in MENA amounted to $X per ton, declining by -5% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by 26% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

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 Egypt ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+23.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform