Global Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size

In 2021, the global plastic furniture fittings market increased by 3.2% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Global consumption peaked in 2021 and is expected to retain growth in years to come.

Plastic Furniture Fittings Production

In value terms, plastic furniture fittings production reduced slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 18%. Global production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Plastic Furniture Fittings Exports

Exports

In 2021, shipments abroad of plastic fittings for furniture increased by 13% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +5.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 15% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the global exports failed to regain momentum.

In value terms, plastic furniture fittings exports soared to $X in 2021. The total export value increased at an average annual rate of +5.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) represented the largest exporter of plastic fittings for furniture, comprising 29% of total exports. Poland (X tons) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by Germany (8.5%), Slovakia (6.6%) and the United States (6.3%). The Czech Republic (X tons), Mexico (X tons), Hungary (X tons), South Korea (X tons), France (X tons), Portugal (X tons), Canada (X tons) and Italy (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to plastic furniture fittings exports from China stood at +12.3%. At the same time, Mexico (+17.7%), Slovakia (+12.0%), Canada (+10.9%), Portugal (+10.2%), Italy (+9.4%), the United States (+7.7%), Hungary (+5.5%), Poland (+4.7%) and South Korea (+1.0%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in the world, with a CAGR of +17.7% from 2012-2021. France and Germany experienced a relatively flat trend pattern. By contrast, the Czech Republic (-3.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, Slovakia and Mexico increased by +13, +2.8 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X), China ($X) and Poland ($X) were the countries with the highest levels of exports in 2021, with a combined 42% share of global exports. Slovakia, the United States, the Czech Republic, France, South Korea, Mexico, Portugal, Hungary, Italy and Canada lagged somewhat behind, together accounting for a further 36%.

In terms of the main exporting countries, Mexico, with a CAGR of +18.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global 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, with an increase of 4.3% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 4.8%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+6.1%), while the other global leaders experienced more modest paces of growth.

Plastic Furniture Fittings Imports

Imports

In 2021, purchases abroad of plastic fittings for furniture was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 16% against the previous year. Global imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, plastic furniture fittings imports surged to $X in 2021. Overall, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -4.7% against 2018 indices. The growth pace was the most rapid in 2017 when imports increased by 20% against the previous year. Global imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons), distantly followed by Germany (X tons), Mexico (X tons), Poland (X tons), Slovakia (X tons) and the Czech Republic (X tons) were the major importers of plastic fittings for furniture, together mixing up 50% of total imports. The UK (X tons), Spain (X tons), Vietnam (X tons), Hungary (X tons), Canada (X tons), France (X tons) and Russia (X tons) followed a long way behind the leaders.

The United States was also the fastest-growing in terms of the plastic fittings for furniture imports, with a CAGR of +17.8% from 2012 to 2021. At the same time, Vietnam (+11.7%), Hungary (+11.1%), Mexico (+7.2%), Spain (+6.3%), Russia (+5.6%), Canada (+4.9%), Germany (+4.1%), the Czech Republic (+4.0%) and the UK (+1.5%) displayed positive paces of growth. France experienced a relatively flat trend pattern. By contrast, Poland (-4.1%) and Slovakia (-7.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United States, Mexico and Vietnam increased by +14, +2.1 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest plastic furniture fittings importing markets worldwide were the United States ($X), Germany ($X) and Poland ($X), with a combined 34% share of global imports. These countries were followed by Vietnam, the Czech Republic, Mexico, Slovakia, Hungary, France, Spain, the UK, Russia and Canada, which together accounted for a further 36%.

In terms of the main importing countries, Vietnam, with a CAGR of +16.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global 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, increasing by 7.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2014 an increase of 8.8%. Over the period under review, average import prices reached the peak figure in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+11.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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