Global Plastic Furniture Market 2024

Plastic Furniture Market Size

The global plastic furniture market rose slightly to $X in 2021, surging by 4.8% against the previous year. The market value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Plastic Furniture Production

In value terms, plastic furniture production contracted to $X in 2021 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +55.4% against 2015 indices. The pace of growth appeared the most rapid in 2018 with an increase of 26% against the previous year. Global production peaked at $X in 2020, and then fell modestly in the following year.

Plastic Furniture Exports

Exports

For the seventh year in a row, the global market recorded growth in overseas shipments of furniture of plastic, which increased by 13% to X units in 2021. In general, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.8% 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 +66.3% against 2012 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 skyrocketed to $X in 2021. Overall, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +65.5% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the key exporter of furniture of plastic in the world, with the volume of exports finishing at X units, which was approx. 58% of total exports in 2021. It was distantly followed by Italy (X units), creating an 11% share of total exports. Turkey (X units), Canada (X units), the Netherlands (X units), Poland (X units), Vietnam (X units) and Israel (X units) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to plastic furniture exports from China stood at +7.3%. At the same time, Vietnam (+21.5%), Canada (+12.0%), the Netherlands (+10.2%), Turkey (+9.5%), Poland (+8.0%), Italy (+4.0%) and Israel (+2.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +21.5% from 2012-2021. From 2012 to 2021, the share of China and Vietnam increased by +6.9 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic furniture supplier worldwide, comprising 47% of global exports. The second position in the ranking was taken by Italy ($X), with an 8.5% share of global exports. It was followed by Canada, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +8.8%. In the other countries, the average annual rates were as follows: Italy (+1.7% per year) and Canada (+11.7% per year).

Export Prices by Country

The average plastic furniture export price stood at $X per unit in 2021, with an increase of 6.2% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 9.9%. The global export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+3.1%), while the other global leaders experienced more modest paces of growth.

Plastic Furniture Imports

Imports

In 2021, overseas purchases of furniture of plastic were finally on the rise to reach X units after three years of decline. Overall, total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.2% 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 -7.0% against 2017 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 20%. Global imports peaked at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, plastic furniture imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X units), distantly followed by France (X units), the UK (X units), Germany (X units) and Canada (X units) represented the largest importers of furniture of plastic, together constituting 40% of total imports. Spain (X units), the Netherlands (X units), Australia (X units), Japan (X units), Indonesia (X units), Mexico (X units), Belgium (X units) and Russia (X units) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +2.1% from 2012 to 2021. At the same time, Indonesia (+20.9%), the Netherlands (+13.5%), Russia (+6.1%), Canada (+5.9%), Spain (+5.4%), the UK (+5.0%), Mexico (+4.7%), Germany (+3.9%), Belgium (+3.5%), France (+3.4%) and Japan (+2.9%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in the world, with a CAGR of +20.9% from 2012-2021. By contrast, Australia (-3.7%) illustrated a downward trend over the same period. The Netherlands (+2 p.p.) and Indonesia (+1.5 p.p.) significantly strengthened its position in terms of the global imports, while Australia and the United States saw its share reduced by -2.5% and -3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported furniture of plastic worldwide, comprising 26% of global imports. The second position in the ranking was taken by the UK ($X), with a 7.6% share of global imports. It was followed by France, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States totaled +7.9%. In the other countries, the average annual rates were as follows: the UK (+6.7% per year) and France (+0.9% per year).

Import Prices by Country

The average plastic furniture import price stood at $X per unit in 2021, surging by 5.2% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 13% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+6.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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