Middle East: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in the Middle East

The Middle Eastern plastic furniture fittings market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption continues to indicate resilient growth. Over the period under review, the market attained the maximum level in 2021 and is likely to continue growth in the near future.

Plastic Furniture Fittings Production in the Middle East

In value terms, plastic furniture fittings production surged to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a prominent increase. The growth pace was the most rapid in 2018 with an increase of 48%. 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 the Middle East

Plastic furniture fittings exports soared to X tons in 2021, rising by 16% compared with 2020 figures. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -0.1% against 2019 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 36%. Over the period under review, the exports hit record highs at X tons in 2019; afterwards, it flattened through to 2021.

In value terms, plastic furniture fittings exports skyrocketed to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 68%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey was the main exporter of plastic fittings for furniture in the Middle East, with the volume of exports resulting at X tons, which was near 81% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), committing a 12% share of total exports. Saudi Arabia (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the plastic fittings for furniture exports, with a CAGR of +8.4% from 2012 to 2021. At the same time, Saudi Arabia (+8.3%) and the United Arab Emirates (+5.0%) displayed positive paces of growth. Turkey (+7.7 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -2.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest plastic furniture fittings supplier in the Middle East, comprising 75% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 15% share of total exports.

In Turkey, plastic furniture fittings exports expanded at an average annual rate of +6.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+15.9% per year) and Saudi Arabia (+11.1% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, growing by 17% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the export price increased by 23%. The level of export peaked at $X per ton in 2017; however, from 2018 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 the United Arab Emirates ($X per ton), while Saudi Arabia ($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 the Middle East

Plastic furniture fittings imports surged to X tons in 2021, jumping by 32% compared with the year before. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.6% 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 increased by +26.4% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic furniture fittings imports surged to $X in 2021. The total import value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat 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, Saudi Arabia (X tons) was the key importer of plastic fittings for furniture, comprising 36% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 20% share, followed by Turkey (17%), Iraq (9.3%) and Israel (4.9%). The following importers - Iran (X tons) and Lebanon (X tons) - together made up 5.5% 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 the Middle East were Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), with a combined 68% share of total imports.

Saudi Arabia, with a CAGR of +13.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, shrinking by -4.6% against the previous year. In general, the import price saw a pronounced contraction. The most prominent rate of growth was recorded in 2013 when the import price increased by 8%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+6.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :