Russian Federation: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in the Russian Federation

The Russian plastic furniture fittings market shrank to $X in 2021, dropping by -6.7% against the previous year. In general, consumption, however, recorded a abrupt decline. Plastic furniture fittings consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Plastic Furniture Fittings Production in the Russian Federation

In value terms, plastic furniture fittings production declined to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt contraction. The growth pace was the most rapid in 2020 with an increase of 29%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Plastic Furniture Fittings Exports

Exports from the Russian Federation

Plastic furniture fittings exports from Russia skyrocketed to X tons in 2021, increasing by 17% against the previous year's figure. Overall, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 54%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, plastic furniture fittings exports surged to $X in 2021. In general, exports recorded prominent growth. The pace of growth appeared the most rapid in 2019 when exports increased by 46%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Kazakhstan (X tons), Belarus (X tons) and Ukraine (X tons) were the main destinations of plastic furniture fittings exports from Russia, with a combined 72% share of total exports. Kyrgyzstan, Germany, Azerbaijan, India, Uzbekistan and Moldova lagged somewhat behind, together comprising a further 20%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +49.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belarus ($X), Kazakhstan ($X) and Germany ($X) constituted the largest markets for plastic furniture fittings exported from Russia worldwide, together comprising 76% of total exports. These countries were followed by Ukraine, India, Kyrgyzstan, Azerbaijan, Moldova and Uzbekistan, which together accounted for a further 14%.

In terms of the main countries of destination, Moldova, with a CAGR of +30.2%, recorded the highest growth rate of 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 average plastic furniture fittings export price stood at $X per ton in 2021, flattening at the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 35%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (+7.5%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Furniture Fittings Imports

Imports into the Russian Federation

After two years of decline, overseas purchases of plastic fittings for furniture increased by 12% to X tons in 2021. Overall, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.6% 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 with an increase of 80%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, plastic furniture fittings imports surged to $X in 2021. In general, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 138%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, South Korea (X tons) constituted the largest plastic furniture fittings supplier to Russia, with a 25% share of total imports. Moreover, plastic furniture fittings imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea totaled +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.2% per year) and Germany (-2.4% per year).

In value terms, South Korea ($X), Japan ($X) and Germany ($X) appeared to be the largest plastic furniture fittings suppliers to Russia, together comprising 42% of total imports. China, France, the Czech Republic, Romania, Austria, Italy, Poland, Slovakia, Turkey and Belarus lagged somewhat behind, together comprising a further 49%.

Belarus, with a CAGR of +54.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average plastic furniture fittings import price amounted to $X per ton, growing by 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2020 when the average import price increased by 53% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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