South Africa: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in South Africa

In 2021, the South African plastic furniture fittings market was finally on the rise to reach $X after two years of decline. In general, the total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Plastic Furniture Fittings Exports

Exports from South Africa

In 2021, the amount of plastic fittings for furniture exported from South Africa skyrocketed to X tons, growing by 76% on the previous year. Over the period under review, exports posted resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 88%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, plastic furniture fittings exports skyrocketed to $X in 2021. In general, exports showed buoyant growth. The growth pace was the most rapid in 2016 with an increase of 76%. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Zimbabwe (X tons) was the main destination for plastic furniture fittings exports from South Africa, with a 47% share of total exports. Moreover, plastic furniture fittings exports to Zimbabwe exceeded the volume sent to the second major destination, Zambia (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume to Zimbabwe amounted to +27.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zambia (+34.4% per year) and the United States (+75.9% per year).

In value terms, the largest markets for plastic furniture fittings exported from South Africa were Germany ($X), Zimbabwe ($X) and the Philippines ($X), with a combined 57% share of total exports. These countries were followed by Zambia, the United States, Mozambique, Ghana, Turkey, Democratic Republic of the Congo, Botswana, Angola, Swaziland and Lesotho, which together accounted for a further 35%.

In terms of the main countries of destination, Turkey, with a CAGR of +5,703.8%, saw 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

In 2021, the average plastic furniture fittings export price amounted to $X per ton, shrinking by -16% against the previous year. Over the period under review, export price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, plastic furniture fittings export price increased by +55.9% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of 58% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Zimbabwe ($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 Germany (+15.5%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Furniture Fittings Imports

Imports into South Africa

In 2021, after two years of decline, there was significant growth in purchases abroad of plastic fittings for furniture, when their volume increased by 44% to X tons. Overall, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 47% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, plastic furniture fittings imports surged to $X in 2021. In general, total imports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest plastic furniture fittings supplier to South Africa, with a 61% share of total imports. Moreover, plastic furniture fittings imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. The third position in this ranking was held by Italy (X tons), with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.0% per year) and Italy (+22.9% per year).

In value terms, Germany ($X), China ($X) and Poland ($X) were the largest plastic furniture fittings suppliers to South Africa, together comprising 61% of total imports.

Among the main suppliers, Poland, with a CAGR of +85.8%, saw the highest growth rate of the value of imports, 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, with an increase of 17% against the previous year. In general, the import price, however, showed a deep downturn. The most prominent rate of growth was recorded in 2019 when the average import price increased by 21% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 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 Thailand ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+3.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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