Malaysia: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in Malaysia

The Malaysian plastic furniture fittings market amounted to $X in 2023, with an increase of X% against the previous year. In general, consumption saw a resilient expansion. Plastic furniture fittings consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Plastic Furniture Fittings Production in Malaysia

In value terms, plastic furniture fittings production expanded notably to $X in 2023 estimated in export price. Over the period under review, production saw a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Plastic furniture fittings production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Plastic Furniture Fittings Exports

Exports from Malaysia

After two years of growth, shipments abroad of plastic fittings for furniture decreased by X% to X tons in 2023. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then fell dramatically in the following year.

In value terms, plastic furniture fittings exports fell remarkably to $X in 2023. In general, exports, however, recorded a temperate expansion. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then reduced markedly in the following year.

Exports by Country

Singapore (X tons) was the main destination for plastic furniture fittings exports from Malaysia, accounting for a X% share of total exports. Moreover, plastic furniture fittings exports to Singapore exceeded the volume sent to the second major destination, the Philippines (X tons), sevenfold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Singapore stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and the United Arab Emirates (X% per year).

In value terms, Singapore ($X) remains the key foreign market for plastic fittings for furniture exports from Malaysia, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with an X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Singapore stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and China (X% per year).

Export Prices by Country

In 2023, the average plastic furniture fittings export price amounted to $X per ton, waning by X% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, plastic furniture fittings export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. The export price peaked at $X per ton in 2020; however, from 2021 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Furniture Fittings Imports

Imports into Malaysia

In 2023, after two years of growth, there was significant decline in supplies from abroad of plastic fittings for furniture, when their volume decreased by X% to X tons. Over the period under review, imports, however, posted a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Imports peaked at X tons in 2022, and then shrank sharply in the following year.

In value terms, plastic furniture fittings imports fell to $X in 2023. Overall, imports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2022, and then fell in the following year.

Imports by Country

China (X tons), Singapore (X tons) and Germany (X tons) were the main suppliers of plastic furniture fittings imports to Malaysia, with a combined X% share of total imports. Italy, Hong Kong SAR, Japan, Thailand, Taiwan (Chinese), the United States and Vietnam lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Italy (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Singapore ($X) and Japan ($X) were the largest plastic furniture fittings suppliers to Malaysia, with a combined X% share of total imports. Germany, Thailand, Italy, the United States, Hong Kong SAR, Taiwan (Chinese) and Vietnam lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Italy, with a CAGR of X%, saw 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 2023, the average plastic furniture fittings import price amounted to $X per ton, increasing by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform