Puerto Rico: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in Puerto Rico

In 2021, after two years of decline, there was significant growth in the Puerto Rican plastic furniture fittings market, when its value increased by 14% to $X. In general, consumption continues to indicate a prominent increase. Puerto Rico consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Plastic Furniture Fittings Production in Puerto Rico

In value terms, plastic furniture fittings production reached $X in 2021 estimated in export price. Overall, production enjoyed notable growth. The pace of growth was the most pronounced in 2016 when the production volume increased by 193% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Plastic Furniture Fittings Exports

Exports from Puerto Rico

In 2021, the amount of plastic fittings for furniture exported from Puerto Rico totaled less than X kg, standing approx. at the previous year. Over the period under review, exports recorded a relatively flat trend pattern.

In value terms, plastic furniture fittings exports amounted to less than $X in 2021. Overall, exports recorded a relatively flat trend pattern.

Exports by Country

In 2021, China (X tons) was the major exporter of plastic fittings for furniture, mixing up 29% of total exports. It was distantly followed by Poland (X tons), Germany (X tons), Slovakia (X tons) and the United States (X tons), together achieving a 34% share of total exports. The following exporters - the Czech Republic (X tons), Mexico (X tons), Hungary (X tons), South Korea (X tons), France (X tons), Portugal (X tons), Canada (X tons) and Italy (X tons) - together made up 21% of total exports.

Exports from China increased at an average annual rate of +12.3% from 2012 to 2021. At the same time, Mexico (+17.7%), Slovakia (+12.0%), Canada (+10.9%), Portugal (+10.2%), Italy (+9.4%), the United States (+7.7%), Hungary (+5.5%), Poland (+4.7%) and South Korea (+1.0%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in the world, with a CAGR of +17.7% from 2012-2021. France and Germany experienced a relatively flat trend pattern. By contrast, the Czech Republic (-3.2%) illustrated a downward trend over the same period. While the share of China (+13 p.p.), Slovakia (+2.8 p.p.) and Mexico (+2.3 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of the Czech Republic (-4.7 p.p.) and Germany (-6.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest plastic furniture fittings supplying countries from Puerto Rico were Germany ($X), China ($X) and Poland ($X), with a combined 42% share of total exports. These countries were followed by Slovakia, the United States, the Czech Republic, France, South Korea, Mexico, Portugal, Hungary, Italy and Canada, which together accounted for a further 36%.

Among the main exporting countries, Mexico, with a CAGR of +18.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, leveling off at the previous year. Overall, the export price recorded a relatively flat trend pattern.

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 Germany ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+6.1%), while the other leaders experienced more modest paces of growth.

Plastic Furniture Fittings Imports

Imports into Puerto Rico

Plastic furniture fittings imports into Puerto Rico was estimated at less than X kg in 2021, approximately mirroring the previous year. Overall, imports saw a relatively flat trend pattern.

In value terms, plastic furniture fittings imports stood at less than $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern.

Imports by Country

In 2021, the United States (X tons), distantly followed by Germany (X tons), Mexico (X tons), Poland (X tons), Slovakia (X tons) and the Czech Republic (X tons) represented the key importers of plastic fittings for furniture, together achieving 50% of total imports. The UK (X tons), Spain (X tons), Vietnam (X tons), Hungary (X tons), Canada (X tons), France (X tons) and Russia (X tons) followed a long way behind the leaders.

The United States was also the fastest-growing in terms of the plastic fittings for furniture imports, with a CAGR of +17.8% from 2012 to 2021. At the same time, Vietnam (+11.7%), Hungary (+11.1%), Mexico (+7.2%), Spain (+6.3%), Russia (+5.6%), Canada (+4.9%), Germany (+4.1%), the Czech Republic (+4.0%) and the UK (+1.5%) displayed positive paces of growth. France experienced a relatively flat trend pattern. By contrast, Poland (-4.1%) and Slovakia (-7.7%) illustrated a downward trend over the same period. The United States (+14 p.p.), Mexico (+2.1 p.p.) and Vietnam (+1.7 p.p.) significantly strengthened its position in terms of the global imports, while Poland and Slovakia saw its share reduced by -5.1% and -8.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X), Germany ($X) and Poland ($X) were the countries with the highest levels of imports in 2021, with a combined 34% share of total imports. These countries were followed by Vietnam, the Czech Republic, Mexico, Slovakia, Hungary, France, Spain, the UK, Russia and Canada, which together accounted for a further 36%.

Vietnam, with a CAGR of +16.1%, saw the highest rates of growth with regard to the value of imports, among 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

In 2021, the import price in Puerto Rico amounted to less than $X per ton, stabilizing at the previous year. Overall, the import price saw a relatively flat trend pattern.

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 Germany ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+11.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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