Mexico: Plastic Furniture Market 2024

Plastic Furniture Market Size in Mexico

In 2021, the Mexican plastic furniture market increased by 40% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Plastic Furniture Production in Mexico

In value terms, plastic furniture production rose sharply to $X in 2021 estimated in export price. In general, production, however, faced a abrupt shrinkage. Plastic furniture production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Plastic Furniture Exports

Exports from Mexico

In 2021, overseas shipments of furniture of plastic decreased by -23.9% to X units, falling for the second consecutive year after two years of growth. Overall, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 82%. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, plastic furniture exports reduced to $X in 2021. In general, exports, however, saw strong growth. The pace of growth appeared the most rapid in 2018 with an increase of 69% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for plastic furniture exports from Mexico, accounting for a 81% share of total exports. Moreover, plastic furniture exports to the United States exceeded the volume sent to the second major destination, Guatemala (X units), more than tenfold. The third position in this ranking was held by El Salvador (X units), with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+27.9% per year) and El Salvador (+40.2% per year).

In value terms, the United States ($X) remains the key foreign market for plastic furniture exports from Mexico, comprising 81% of total exports. The second position in the ranking was held by Guatemala ($X), with a 4.5% share of total exports. It was followed by El Salvador, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+27.8% per year) and El Salvador (+40.0% per year).

Export Prices by Country

The average plastic furniture export price stood at $X per unit in 2021, increasing by 15% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, the highest price was recorded for prices to Guatemala ($X per unit) and the United States ($X per unit), while the average price for exports to Peru ($X per unit) and El Salvador ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (-0.1%), while the prices for the other major destinations experienced a decline.

Plastic Furniture Imports

Imports into Mexico

In 2021, approx. X units of furniture of plastic were imported into Mexico; jumping by 21% compared with the previous year. The total import volume increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained 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 +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable 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, China (X units) constituted the largest supplier of plastic furniture to Mexico, accounting for a 75% share of total imports. Moreover, plastic furniture imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), fivefold. Vietnam (X units) ranked third in terms of total imports with a 3% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.8% per year) and Vietnam (+118.3% per year).

In value terms, China ($X) constituted the largest supplier of plastic furniture to Mexico, comprising 75% of total imports. The second position in the ranking was taken by the United States ($X), with a 15% share of total imports. It was followed by Vietnam, with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.1% per year) and Vietnam (+117.6% per year).

Import Prices by Country

The average plastic furniture import price stood at $X per unit in 2021, leveling off at the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 a decrease of less than 0.1%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Vietnam ($X per unit) and the United States ($X per unit), while the price for Canada ($X per unit) and Israel ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (-0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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