Southern Asia: Plastic Furniture Fittings Market 2024

Plastic Furniture Fittings Market Size in Southern Asia

The South Asian plastic furniture fittings market rose remarkably to $X in 2023, picking up by X% against the previous year. Over the period under review, consumption recorded a buoyant expansion. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Plastic Furniture Fittings Production in Southern Asia

In value terms, plastic furniture fittings production expanded rapidly to $X in 2023 estimated in export price. Overall, production continues to indicate a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Plastic Furniture Fittings Exports

Exports in Southern Asia

In 2023, the amount of plastic fittings for furniture exported in Southern Asia reduced dramatically to X tons, dropping by X% on the previous year. Overall, exports, however, recorded noticeable growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, plastic furniture fittings exports declined to $X in 2023. In general, exports, however, posted prominent growth. The growth pace was the most rapid in 2015 when exports increased by X%. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from India (X tons), together reaching X% of total export.

India was also the fastest-growing in terms of the plastic fittings for furniture exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest plastic furniture fittings supplier in Southern Asia.

In India, plastic furniture fittings exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in Southern Asia amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price saw a resilient increase. The most prominent rate of growth was recorded in 2016 an increase of X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2023, the rate of growth in terms of prices for India amounted to X% per year.

Plastic Furniture Fittings Imports

Imports in Southern Asia

In 2023, purchases abroad of plastic fittings for furniture decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

In value terms, plastic furniture fittings imports declined rapidly to $X in 2023. Over the period under review, imports, however, posted a measured increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then dropped rapidly in the following year.

Imports by Country

India dominates imports structure, finishing at X tons, which was approx. X% of total imports in 2023. It was distantly followed by Bangladesh (X tons) and Sri Lanka (X tons), together creating a X% share of total imports.

India experienced a relatively flat trend pattern with regard to volume of imports of plastic fittings for furniture. Sri Lanka experienced a relatively flat trend pattern. Bangladesh (X%) illustrated a downward trend over the same period. India (X p.p.) significantly strengthened its position in terms of the total imports, while Bangladesh saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported plastic fittings for furniture in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Bangladesh ($X), with a X% share of total imports.

In India, plastic furniture fittings imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (X% per year) and Sri Lanka (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2023, waning by X% against the previous year. Import price indicated a perceptible increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, plastic furniture fittings import price decreased by X% against 2021 indices. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The level of import peaked at $X per ton in 2021; however, from 2022 to 2023, 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 India ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform