Plastic Furniture Market

The global plastic furniture market is projected to see growth in both volume and value terms, with a forecasted CAGR of +3.0% and +4.9% respectively from 2022 to 2030. Consumption of furniture of plastic saw a decrease in 2022 after three years of growth, but overall showed an increase from 2012 to 2022. China, the United States, and India were the top consuming countries in 2022, while the United States, the UK, and France had the highest levels of plastic furniture per capita consumption. China was the largest producer and exporter of plastic furniture, while the United States was the major importer. The global plastic furniture market is expected to retain growth in the years to come, with prices varying noticeably by country of origin and destination.

Market Forecast

Driven by increasing demand for furniture of plastic worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market volume to 907M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.9% for the period from 2022 to 2030, which is projected to bring the market value to $12B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Furniture Of Plastics

After three years of growth, consumption of furniture of plastic decreased by -3.4% to 716M units in 2022. Over the period under review, the total consumption indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +58.7% against 2012 indices. As a result, consumption reached the peak volume of 742M units, and then fell modestly in the following year.

The global plastic furniture market size declined to $8.1B in 2022, reducing by -5.6% 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, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +12.5% against 2020 indices. As a result, consumption reached the peak level of $8.6B, and then reduced in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (114M units), the United States (109M units) and India (39M units), with a combined 37% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by the United States (with a CAGR of +10.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest plastic furniture markets worldwide were China ($1.4B), the United States ($1B) and Japan ($373M), with a combined 34% share of the global market. Pakistan, Indonesia, India, the UK, France, Brazil, Nigeria, Bangladesh and Ethiopia lagged somewhat behind, together accounting for a further 21%.

Among the main consuming countries, Pakistan, with a CAGR of +10.0%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of plastic furniture per capita consumption in 2022 were the United States (326 units per 1000 persons), the UK (229 units per 1000 persons) and France (196 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by the United States (with a CAGR of +9.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Furniture Of Plastics

Global plastic furniture production shrank slightly to 601M units in 2022, reducing by -3.6% compared with 2021 figures. The total output volume increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by 18%. Global production peaked at 653M units in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, plastic furniture production contracted to $7.8B in 2022 estimated in export price. Overall, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +12.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the production volume increased by 21% against the previous year. Over the period under review, global production reached the peak level at $9.8B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of plastic furniture production was China (195M units), accounting for 32% of total volume. Moreover, plastic furniture production in China exceeded the figures recorded by the second-largest producer, India (39M units), fivefold. The third position in this ranking was taken by Italy (31M units), with a 5.2% share.

In China, plastic furniture production increased at an average annual rate of +2.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+7.5% per year) and Italy (+0.6% per year).

Imports

World Imports of Furniture Of Plastics

In 2022, supplies from abroad of furniture of plastic decreased by -3.8% to 306M units for the first time since 2019, thus ending a two-year rising trend. Overall, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +15.5% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 20% against the previous year. Global imports peaked at 318M units in 2021, and then dropped slightly in the following year.

In value terms, plastic furniture imports shrank modestly to $3.3B in 2022. The total import value increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 21% against the previous year. As a result, imports reached the peak of $3.3B, leveling off in the following year.

Imports By Country

The United States represented the major importer of furniture of plastic in the world, with the volume of imports resulting at 111M units, which was near 36% of total imports in 2022. France (14M units) ranks second in terms of the total imports with a 4.7% share, followed by the UK (4.6%) and Germany (4.5%). Canada (12M units), Spain (7.1M units), the Netherlands (6.8M units), Australia (6.1M units), Mexico (5.3M units), Indonesia (5.3M units), Thailand (5.2M units), Japan (5.1M units) and Nigeria (4.8M units) took a little share of total imports.

Imports into the United States increased at an average annual rate of +13.1% from 2012 to 2022. At the same time, Thailand (+19.2%), Indonesia (+18.3%), the Netherlands (+8.1%), Nigeria (+6.4%), Canada (+4.5%), Mexico (+4.4%), Germany (+1.7%) and the UK (+1.6%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in the world, with a CAGR of +19.2% from 2012-2022. Japan, Spain and France experienced a relatively flat trend pattern. By contrast, Australia (-4.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States increased by +18 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($897M) constitutes the largest market for imported furniture of plastic worldwide, comprising 27% of global imports. The second position in the ranking was held by the UK ($224M), with a 6.8% share of global imports. It was followed by Germany, with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to +7.2%. In the other countries, the average annual rates were as follows: the UK (+4.5% per year) and Germany (+3.8% per year).

Import Prices By Country

In 2022, the average plastic furniture import price amounted to $11 per unit, increasing by 3.2% against the previous year. Overall, the import price, however, showed a slight slump. The most prominent rate of growth was recorded in 2021 an increase of 6.1%. Over the period under review, average import prices attained the maximum at $13 per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the UK ($16 per unit), while Indonesia ($4.9 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+6.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Furniture Of Plastics

In 2022, overseas shipments of furniture of plastic decreased by -4.6% to 191M units, falling for the fourth year in a row after four years of growth. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 42% against the previous year. The global exports peaked at 265M units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, plastic furniture exports expanded slightly to $3.4B in 2022. Overall, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +64.7% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 17% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

China was the largest exporter of furniture of plastic in the world, with the volume of exports accounting for 81M units, which was approx. 42% of total exports in 2022. Italy (24M units) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Canada (5.3%) and Turkey (5%). Poland (7.5M units), Israel (6.3M units), the Netherlands (5.9M units) and Germany (4.6M units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to plastic furniture exports from China stood at -1.5%. At the same time, Canada (+14.1%), Turkey (+9.6%), Poland (+7.9%), the Netherlands (+6.4%), Israel (+3.7%) and Germany (+3.2%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in the world, with a CAGR of +14.1% from 2012-2022. Italy experienced a relatively flat trend pattern. Canada (+3.8 p.p.), Turkey (+3 p.p.) and Poland (+2 p.p.) significantly strengthened its position in terms of the global exports, while China saw its share reduced by -8.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($1.7B) remains the largest plastic furniture supplier worldwide, comprising 49% of global exports. The second position in the ranking was held by Italy ($251M), with a 7.4% share of global exports. It was followed by Canada, with a 4.4% share.

In China, plastic furniture exports expanded at an average annual rate of +8.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Italy (+0.2% per year) and Canada (+12.4% per year).

Export Prices By Country

In 2022, the average plastic furniture export price amounted to $18 per unit, picking up by 8.5% against the previous year. Overall, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic furniture export price increased by +97.0% against 2017 indices. The growth pace was the most rapid in 2020 when the average export price increased by 36%. The global export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($22 per unit), while Turkey ($9.6 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform