Saudi Arabia: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in Saudi Arabia

For the fourth consecutive year, the Saudi plastic furniture fittings market recorded growth in sales value, which increased by 14% to $X in 2021. In general, consumption enjoyed a resilient expansion. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Plastic Furniture Fittings Exports

Exports from Saudi Arabia

After two years of decline, overseas shipments of plastic fittings for furniture increased by 339% to X tons in 2021. In general, exports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2018 when exports increased by 439%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, plastic furniture fittings exports surged to $X in 2021. Overall, exports recorded a strong expansion. The growth pace was the most rapid in 2018 with an increase of 439%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

Exports by Country

The United Arab Emirates (X tons), Jordan (X tons) and Bahrain (X tons) were the main destinations of plastic furniture fittings exports from Saudi Arabia, together comprising 81% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +88.1%), while the other leaders experienced more modest paces of growth.

In value terms, Jordan ($X), the United Arab Emirates ($X) and Yemen ($X) constituted the largest markets for plastic furniture fittings exported from Saudi Arabia worldwide, with a combined 65% share of total exports.

The United Arab Emirates, with a CAGR of +60.8%, recorded the highest growth rate of the value of exports, among the main countries of destination 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, surging by 5.3% against the previous year. In general, the export price continues to indicate a temperate expansion. The pace of growth appeared the most rapid in 2013 an increase of 248%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to the UK ($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 Egypt (+43.2%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Furniture Fittings Imports

Imports into Saudi Arabia

In 2021, plastic furniture fittings imports into Saudi Arabia soared to X tons, jumping by 35% compared with the year before. Over the period under review, imports recorded a prominent expansion. The pace of growth was the most pronounced in 2019 when imports increased by 73% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, plastic furniture fittings imports rose markedly to $X in 2021. In general, imports showed a prominent increase. The growth pace was the most rapid in 2020 with an increase of 66%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest plastic furniture fittings supplier to Saudi Arabia, with a 76% share of total imports. Moreover, plastic furniture fittings imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), more than tenfold. The United Arab Emirates (X tons) ranked third in terms of total imports with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +19.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+21.3% per year) and the United Arab Emirates (+27.1% per year).

In value terms, China ($X) constituted the largest supplier of plastic fittings for furniture to Saudi Arabia, comprising 55% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 7.7% share of total imports. It was followed by the United Arab Emirates, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +17.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+12.0% per year) and the United Arab Emirates (+18.3% per year).

Import Prices by Country

In 2021, the average plastic furniture fittings import price amounted to $X per ton, shrinking by -15.6% against the previous year. Overall, the import price continues to indicate a perceptible slump. The pace of growth appeared the most rapid in 2018 an increase of 14% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 Spain ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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