United Arab Emirates: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in the United Arab Emirates

The plastic furniture fittings market in the United Arab Emirates skyrocketed to $X in 2021, picking up by 77% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a buoyant increase. Plastic furniture fittings consumption peaked in 2021 and is likely to see gradual growth in years to come.

Plastic Furniture Fittings Exports

Exports from the United Arab Emirates

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. Overall, total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 75%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the near future.

In value terms, plastic furniture fittings exports surged to $X in 2021. In general, exports saw resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia (X tons) was the main destination for plastic furniture fittings exports from the United Arab Emirates, accounting for a 31% share of total exports. Moreover, plastic furniture fittings exports to Saudi Arabia exceeded the volume sent to the second major destination, the Czech Republic (X tons), twofold. The third position in this ranking was held by Oman (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Saudi Arabia amounted to +19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+39.2% per year) and Oman (-1.5% per year).

In value terms, the largest markets for plastic furniture fittings exported from the United Arab Emirates were the Czech Republic ($X), Saudi Arabia ($X) and Oman ($X), with a combined 42% share of total exports. Hungary, Germany, Ukraine, Georgia and India lagged somewhat behind, together comprising a further 19%.

Hungary, with a CAGR of +138.8%, saw the highest growth rate of the value of exports, among the main countries of destination 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, surging by 47% against the previous year. In general, the export price posted a strong expansion. The most prominent rate of growth was recorded in 2020 an increase of 81% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Saudi Arabia ($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 Qatar (+25.8%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Furniture Fittings Imports

Imports into the United Arab Emirates

In 2021, approx. X tons of plastic fittings for furniture were imported into the United Arab Emirates; picking up by 82% against the previous year. Over the period under review, imports posted a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, plastic furniture fittings imports surged to $X in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest plastic furniture fittings supplier to the United Arab Emirates, accounting for a 59% share of total imports. Moreover, plastic furniture fittings imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), fourfold. Saudi Arabia (X tons) ranked third in terms of total imports with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-2.6% per year) and Saudi Arabia (+46.1% per year).

In value terms, China ($X), Taiwan (Chinese) ($X) and Germany ($X) were the largest plastic furniture fittings suppliers to the United Arab Emirates, together comprising 57% of total imports. Italy, South Korea, Saudi Arabia, Turkey and Malaysia lagged somewhat behind, together comprising a further 7.4%.

In terms of the main suppliers, Italy, with a CAGR of +31.2%, 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, falling by -9.8% against the previous year. Over the period under review, the import price continues to indicate a slight decrease. The pace of growth appeared the most rapid in 2015 an increase of 20%. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average 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 Germany ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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