Myanmar: Plastic Furniture Market 2024

Plastic Furniture Market Size in Myanmar

In 2021, after two years of growth, there was significant decline in the Myanmar's plastic furniture market, when its value decreased by -18.9% to $X. In general, consumption continues to indicate a deep setback. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Plastic Furniture Production in Myanmar

In value terms, plastic furniture production fell remarkably to $X in 2021 estimated in export price. In general, production saw a deep contraction. The pace of growth appeared the most rapid in 2020 when the production volume increased by 55% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Plastic Furniture Exports

Exports from Myanmar

In 2021, approx. X units of furniture of plastic were exported from Myanmar; increasing by 20% on the previous year's figure. Over the period under review, exports saw a resilient increase. The growth pace was the most rapid in 2018 with an increase of 206%. Over the period under review, the exports reached the maximum at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, plastic furniture exports soared to $X in 2021. Overall, exports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2013 when exports increased by 107%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Thailand (X units) was the main destination for plastic furniture exports from Myanmar, accounting for a 73% share of total exports. Moreover, plastic furniture exports to Thailand exceeded the volume sent to the second major destination, India (X units), fivefold. China (X units) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Thailand totaled +18.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+22.6% per year) and China (+29.3% per year).

In value terms, Thailand ($X) emerged as the key foreign market for plastic furniture exports from Myanmar, comprising 87% of total exports. The second position in the ranking was taken by China ($X), with a 5.5% share of total exports. It was followed by India, with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Thailand amounted to +17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+21.0% per year) and India (+4.4% per year).

Export Prices by Country

The average plastic furniture export price stood at $X per unit in 2021, increasing by 50% against the previous year. In general, the export price, however, continues to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2020 an increase of 88%. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Thailand ($X per unit), while the average price for exports to India ($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 Thailand (-0.7%), while the prices for the other major destinations experienced a decline.

Plastic Furniture Imports

Imports into Myanmar

In 2021, approx. X units of furniture of plastic were imported into Myanmar; reducing by -57.2% compared with 2020. Over the period under review, imports saw a noticeable decrease. The pace of growth was the most pronounced in 2013 with an increase of 100% against the previous year. Over the period under review, imports attained the maximum at X units in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, plastic furniture imports dropped notably to $X in 2021. In general, imports showed a slight downturn. The pace of growth was the most pronounced in 2013 with an increase of 161%. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Thailand (X units), China (X units) and Vietnam (X units) were the main suppliers of plastic furniture imports to Myanmar, with a combined 97% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of -0.8%), while imports for the other leaders experienced a decline.

In value terms, Thailand ($X), China ($X) and Vietnam ($X) constituted the largest plastic furniture suppliers to Myanmar, with a combined 97% share of total imports.

Among the main suppliers, China, with a CAGR of +1.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average plastic furniture import price amounted to $X per unit, rising by 12% against the previous year. Over the last nine years, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2013 when the average import price increased by 30%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Malaysia ($X per unit) and Vietnam ($X per unit), while the price for Singapore ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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