Mexico: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in Mexico

The Mexican plastic furniture fittings market dropped markedly to $X in 2021, shrinking by -39% against the previous year. Over the period under review, consumption showed a noticeable downturn. Plastic furniture fittings consumption peaked at $X in 2020, and then shrank markedly in the following year.

Plastic Furniture Fittings Production in Mexico

In value terms, plastic furniture fittings production contracted significantly to $X in 2021 estimated in export price. In general, production recorded a noticeable slump. Over the period under review, production reached the peak level at $X in 2020, and then reduced notably in the following year.

Plastic Furniture Fittings Exports

Exports from Mexico

In 2021, after two years of decline, there was significant growth in shipments abroad of plastic fittings for furniture, when their volume increased by 113% to X tons. Overall, exports continue to indicate a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic furniture fittings exports rose notably to $X in 2021. Over the period under review, exports recorded strong growth. The pace of growth was the most pronounced in 2014 with an increase of 53%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for plastic furniture fittings exports from Mexico, accounting for a 96% share of total exports. It was followed by Brazil (X tons), with a 2.2% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +17.9%.

In value terms, the United States ($X) remains the key foreign market for plastic fittings for furniture exports from Mexico, comprising 94% of total exports. The second position in the ranking was taken by Brazil ($X), with a 3.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +18.7%.

Export Prices by Country

The average plastic furniture fittings export price stood at $X per ton in 2021, with a decrease of -47.8% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 73% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+4.1%).

Plastic Furniture Fittings Imports

Imports into Mexico

In 2021, imports of plastic fittings for furniture into Mexico reduced notably to X tons, with a decrease of -16.7% compared with the previous year. Overall, imports, however, saw a prominent increase. The pace of growth was the most pronounced in 2013 when imports increased by 108% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, plastic furniture fittings imports skyrocketed to $X in 2021. In general, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -17.1% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 24% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest plastic furniture fittings supplier to Mexico, with a 52% share of total imports. Moreover, plastic furniture fittings imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Canada (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+20.9% per year) and Canada (+11.0% per year).

In value terms, the United States ($X) constituted the largest supplier of plastic fittings for furniture to Mexico, comprising 52% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by Canada, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.9% per year) and Canada (+14.2% per year).

Import Prices by Country

The average plastic furniture fittings import price stood at $X per ton in 2021, with an increase of 40% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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