South-Eastern Asia: Plastic Furniture Market 2024

Plastic Furniture Market Size in South-Eastern Asia

In 2021, the Southeast Asian plastic furniture market decreased by -2.9% to $X for the first time since 2017, thus ending a three-year rising trend. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then fell slightly in the following year.

Plastic Furniture Production in South-Eastern Asia

In value terms, plastic furniture production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when the production volume increased by 21%. As a result, production reached the peak level of $X, and then contracted in the following year.

Plastic Furniture Exports

Exports in South-Eastern Asia

For the third consecutive year, South-Eastern Asia recorded growth in shipments abroad of furniture of plastic, which increased by 7.5% to X units in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +94.6% against 2018 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 71% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, plastic furniture exports surged to $X in 2021. Over the period under review, exports showed prominent growth. The pace of growth was the most pronounced in 2020 with an increase of 91% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

Vietnam prevails in exports structure, recording X units, which was approx. 70% of total exports in 2021. Indonesia (X units) ranks second in terms of the total exports with a 9.8% share, followed by Malaysia (7.3%), the Philippines (4.9%) and Singapore (4.7%). Thailand (X units) took a minor share of total exports.

Vietnam was also the fastest-growing in terms of the furniture of plastic exports, with a CAGR of +21.5% from 2012 to 2021. At the same time, Singapore (+14.4%), the Philippines (+11.9%) and Thailand (+2.1%) displayed positive paces of growth. By contrast, Indonesia (-9.1%) and Malaysia (-9.7%) illustrated a downward trend over the same period. Vietnam (+50 p.p.), Singapore (+2.4 p.p.) and the Philippines (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and Indonesia saw its share reduced by -23.6% and -29.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest plastic furniture supplier in South-Eastern Asia, comprising 66% of total exports. The second position in the ranking was held by Indonesia ($X), with a 16% share of total exports. It was followed by Thailand, with a 5.4% share.

In Vietnam, plastic furniture exports increased at an average annual rate of +25.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (-2.5% per year) and Thailand (+9.1% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, picking up by 16% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.9%. The most prominent rate of growth was recorded in 2017 an increase of 21%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Thailand ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+7.2%), while the other leaders experienced more modest paces of growth.

Plastic Furniture Imports

Imports in South-Eastern Asia

In 2021, approx. X units of furniture of plastic were imported in South-Eastern Asia; jumping by 26% on 2020. Overall, imports showed a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by 38%. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in years to come.

In value terms, plastic furniture imports surged to $X in 2021. In general, imports showed a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Indonesia (X units) represented the major importer of furniture of plastic, constituting 34% of total imports. Malaysia (X units) ranks second in terms of the total imports with a 17% share, followed by the Philippines (16%), Vietnam (12%), Thailand (12%) and Singapore (5.5%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +44.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic furniture importing markets in South-Eastern Asia were the Philippines ($X), Vietnam ($X) and Indonesia ($X), together comprising 63% of total imports.

Among the main importing countries, Vietnam, with a CAGR of +49.6%, saw the highest rates of growth with regard to 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 import price in South-Eastern Asia amounted to $X per unit, growing by 13% against the previous year. Overall, the import price recorded mild growth. The pace of growth was the most pronounced in 2018 an increase of 19%. The level of import peaked in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Vietnam ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+17.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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