Thailand: Plastic Furniture Market 2024

Plastic Furniture Market Size in Thailand

The Thai plastic furniture market reduced to $X in 2021, falling by -2.8% against the previous year. In general, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +63.7% against 2015 indices. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Plastic Furniture Production in Thailand

In value terms, plastic furniture production declined to $X in 2021 estimated in export price. In general, the total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +71.9% against 2016 indices. The growth pace was the most rapid in 2018 with an increase of 38%. Over the period under review, production reached the peak level at $X in 2020, and then dropped in the following year.

Plastic Furniture Exports

Exports from Thailand

In 2021, shipments abroad of furniture of plastic decreased by -28.3% to X units, falling for the second year in a row after three years of growth. In general, exports, however, saw a perceptible increase. The pace of growth was the most pronounced in 2014 with an increase of 53%. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, plastic furniture exports amounted to $X in 2021. Overall, exports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2013 when exports increased by 42%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X units), the United States (X units) and Myanmar (X units) were the main destinations of plastic furniture exports from Thailand, with a combined 59% share of total exports. These countries were followed by Cambodia, Lao People's Democratic Republic, Kuwait, the Philippines, Japan, Singapore, Hong Kong SAR, the United Arab Emirates and Latvia, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were in Cambodia (with a CAGR of +38.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for plastic furniture exports from Thailand, comprising 59% of total exports. The second position in the ranking was held by the Philippines ($X), with an 11% share of total exports. It was followed by Cambodia, with a 6.5% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +29.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+35.3% per year) and Cambodia (+36.5% per year).

Export Prices by Country

In 2021, the average plastic furniture export price amounted to $X per unit, increasing by 41% against the previous year. In general, the export price continues to indicate a buoyant increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by 111% against the previous year. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the Philippines ($X per unit), while the average price for exports to Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+27.6%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Furniture Imports

Imports into Thailand

After two years of decline, overseas purchases of furniture of plastic increased by 24% to X units in 2021. Overall, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 37%. Imports peaked at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, plastic furniture imports expanded notably to $X in 2021. Over the period under review, imports saw a prominent expansion. The pace of growth appeared the most rapid in 2016 with an increase of 47%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of plastic furniture to Thailand, accounting for a 86% share of total imports. Moreover, plastic furniture imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. The third position in this ranking was taken by South Korea (X units), with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+14.3% per year) and South Korea (+19.0% per year).

In value terms, China ($X) constituted the largest supplier of plastic furniture to Thailand, comprising 73% of total imports. The second position in the ranking was held by Japan ($X), with a 4.2% share of total imports. It was followed by the United States, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+15.0% per year) and the United States (+8.7% per year).

Import Prices by Country

The average plastic furniture import price stood at $X per unit in 2021, with a decrease of -13.2% against the previous year. In general, the import price showed a mild downturn. The pace of growth was the most pronounced in 2020 an increase of 22%. As a result, import price attained the peak level of $X per unit, and then declined in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+0.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :