Spain: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in Spain

In 2021, the Spanish plastic furniture fittings market increased by 154% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption recorded a strong increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Plastic Furniture Fittings Production in Spain

In value terms, plastic furniture fittings production skyrocketed to $X in 2021 estimated in export price. In general, the total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Plastic Furniture Fittings Exports

Exports from Spain

In 2021, overseas shipments of plastic fittings for furniture were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. The total export volume increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 19%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, plastic furniture fittings exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 25%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Portugal (X tons), France (X tons) and Morocco (X tons) were the main destinations of plastic furniture fittings exports from Spain, with a combined 50% share of total exports. The UK, Germany, Italy, Hungary, Mexico, the Czech Republic, Turkey, the United States and Slovakia lagged somewhat behind, together comprising a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Czech Republic (with a CAGR of +52.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic furniture fittings exported from Spain were Portugal ($X), France ($X) and Hungary ($X), together accounting for 45% of total exports. These countries were followed by Morocco, Germany, Mexico, the UK, the Czech Republic, Turkey, Italy, the United States and Slovakia, which together accounted for a further 38%.

Among the main countries of destination, the Czech Republic, with a CAGR of +44.5%, saw the highest rates of growth with regard to 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

The average plastic furniture fittings export price stood at $X per ton in 2021, rising by 10% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2018 when the average export price increased by 24% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Italy ($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 Hungary (+22.7%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Furniture Fittings Imports

Imports into Spain

In 2021, purchases abroad of plastic fittings for furniture was finally on the rise to reach X tons after two years of decline. Overall, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2017 when imports increased by 46%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, plastic furniture fittings imports skyrocketed to $X in 2021. In general, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 21%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, France (X tons) constituted the largest plastic furniture fittings supplier to Spain, accounting for a 36% share of total imports. Moreover, plastic furniture fittings imports from France exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from France totaled +27.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.0% per year) and Germany (-0.1% per year).

In value terms, China ($X), Germany ($X) and France ($X) were the largest plastic furniture fittings suppliers to Spain, with a combined 51% share of total imports. These countries were followed by Italy, Portugal, India, Poland, Morocco, the Czech Republic, Romania, the UK and Slovenia, which together accounted for a further 39%.

Among the main suppliers, Romania, with a CAGR of +364.1%, recorded 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 average plastic furniture fittings import price amounted to $X per ton, jumping by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.0%. The pace of growth appeared the most rapid in 2019 when the average import price increased by 32%. The import price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Morocco (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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