SADC: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in SADC

In 2021, the SADC plastic furniture fittings market increased by 0.9% to $X, rising for the fourth consecutive year after two years of decline. The total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +24.8% against 2017 indices. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Plastic Furniture Fittings Production in SADC

In value terms, plastic furniture fittings production reduced to $X in 2021 estimated in export price. The total production indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +16.1% against 2017 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 74% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Plastic Furniture Fittings Exports

Exports in SADC

In 2021, overseas shipments of plastic fittings for furniture increased by 8.7% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 118%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, plastic furniture fittings exports surged to $X in 2021. Over the period under review, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 111%. The level of export peaked in 2021 and is likely to continue growth in years to come.

Exports by Country

The biggest shipments were from South Africa (X tons), together recording 99% of total export.

South Africa was also the fastest-growing in terms of the plastic fittings for furniture exports, with a CAGR of +12.2% from 2012 to 2021. While the share of South Africa (+2.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest plastic furniture fittings supplier in SADC.

From 2012 to 2021, the average annual growth rate of value in South Africa amounted to +14.4%.

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, with an increase of 6.1% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2014 when the export price increased by 52%. Over the period under review, the export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2021, the rate of growth in terms of prices for South Africa amounted to +2.0% per year.

Plastic Furniture Fittings Imports

Imports in SADC

After two years of decline, overseas purchases of plastic fittings for furniture increased by 40% to X tons in 2021. In general, imports showed a prominent expansion. The growth pace was the most rapid in 2018 with an increase of 40%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, plastic furniture fittings imports soared to $X in 2021. Total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

South Africa was the key importing country with an import of about X tons, which recorded 55% of total imports. Zimbabwe (X tons) took the second position in the ranking, followed by Tanzania (X tons), Botswana (X tons) and Angola (X tons). All these countries together took approx. 35% share of total imports. The following importers - Mauritius (X tons) and Zambia (X tons) - each accounted for a 3.9% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to plastic furniture fittings imports into South Africa stood at +9.4%. At the same time, Zimbabwe (+25.9%), Zambia (+18.6%), Botswana (+12.4%), Tanzania (+9.2%), Mauritius (+4.0%) and Angola (+1.4%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing importer imported in SADC, with a CAGR of +25.9% from 2012-2021. From 2012 to 2021, the share of Zimbabwe and Botswana increased by +9.8 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported plastic fittings for furniture in SADC, comprising 70% of total imports. The second position in the ranking was held by Tanzania ($X), with a 9.4% share of total imports. It was followed by Botswana, with a 4.6% share.

In South Africa, plastic furniture fittings imports expanded at an average annual rate of +3.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Tanzania (+7.7% per year) and Botswana (+14.1% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2021, surging by 11% against the previous year. Over the period under review, the import price, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2014 an increase of 18% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Africa ($X per ton), while Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Zambia (+3.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform