Southern Asia: Plastic Furniture Market 2024

Plastic Furniture Market Size in Southern Asia

The South Asian plastic furniture market reached $X in 2021, growing by 10% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Plastic Furniture Production in Southern Asia

In value terms, plastic furniture production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 23% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Plastic Furniture Exports

Exports in Southern Asia

In 2021, approx. X units of furniture of plastic were exported in Southern Asia; with an increase of 42% on the previous year's figure. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +8.6% 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 +42.0% against 2014 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic furniture exports soared to $X in 2021. Total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.7% 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 decreased by -1.9% against 2019 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 41% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, India (X units) represented the key exporter of furniture of plastic, creating 69% of total exports. It was distantly followed by Bangladesh (X units), achieving a 30% share of total exports.

Exports from India increased at an average annual rate of +4.9% from 2012 to 2021. At the same time, Bangladesh (+59.2%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +59.2% from 2012-2021. From 2012 to 2021, the share of Bangladesh increased by +29 percentage points.

In value terms, India ($X) remains the largest plastic furniture supplier in Southern Asia, comprising 70% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in India amounted to +5.2%.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per unit, with a decrease of -6% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 11%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was India ($X per unit), while Bangladesh stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+0.3%).

Plastic Furniture Imports

Imports in Southern Asia

In 2021, plastic furniture imports in Southern Asia soared to X units, jumping by 22% against 2020 figures. In general, imports saw resilient growth. The pace of growth was the most pronounced in 2014 with an increase of 33%. Over the period under review, imports reached 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. Total imports indicated a buoyant expansion from 2012 to 2021: its value 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. Based on 2021 figures, imports decreased by -2.8% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 27% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

India dominates imports structure, reaching X units, which was approx. 76% of total imports in 2021. Bangladesh (X units) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by Sri Lanka (6.5%). Nepal (X units) and Maldives (X units) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +11.4% from 2012 to 2021. At the same time, Nepal (+13.9%), Bangladesh (+6.1%), Sri Lanka (+2.6%) and Maldives (+2.0%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +13.9% from 2012-2021. From 2012 to 2021, the share of India increased by +15 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported furniture of plastic in Southern Asia, comprising 60% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 17% share of total imports. It was followed by Sri Lanka, with an 11% share.

In India, plastic furniture imports expanded at an average annual rate of +3.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Bangladesh (+22.8% per year) and Sri Lanka (+8.6% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per unit, falling by -3.9% against the previous year. In general, the import price recorded a pronounced decline. The pace of growth appeared the most rapid in 2013 when the import price increased by 15%. Over the period under review, import prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+15.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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