Plastic Furniture Market Growing Trade Among Emerging Economies Opening New Opportunities To 2021-2027

Published : 3 years ago, on 21/09/2021

According to the global plus size clothing market report, The global plastic furniture market size was valued at $14.5 billion in 2019, and is projected to reach $19.0 billion by 2027, registering a CAGR of 5.8% from 2021 to 2027. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.

Plastic furniture is more affordable and efficient as compared to other materials. Moreover, plastic furniture are available in various designs, types, and colors that can easily match the ambience of home, restaurant, hotel, and offices which is also the current plastic furniture market trend.

Apart from having flawless designs and vibrant colors, plastic furniture are extremely durable. As the metal chairs and wooden chairs are stiff, they deform or break quickly. On the contrary, the flexibility of plastic furniture makes it easy for them to resist extreme pressure and damages. Availability of recycled plastic furniture, which is made from plastic waste such bottles, plastic toys, and ocean plastic finds its application in outdoor furniture. Various stakeholders are creating plastic furniture by using a waste plastics.

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For instance, ScanCom International A/S is an outdoor furniture company, which recently introduced DuraOcean and DuraLand, which are plastic furniture completely made from recycled maritime plastic waste, setting a benchmark for sustainable material usage and design. Moreover, eco-Birdy a European furniture manufacturing company has currently launched ecoBridy recycled plastic furniture for kids.

The company further announced that its complete line of production plastic furniture is 100% recyclable and does not contain any harmful chemical. Hence, rise in trend of using recycled plastic furniture by various stakeholders is expected to create lucrative opportunity for the plastic furniture market growth.

Furthermore, plastic furniture are cost-effective as compared to wooden and metal furniture. Moreover, they are corrosion-resistant and do not leave any marks on tiles, pavements, or others areas of hotels and houses, which result in attracting more customers, thereby driving the plastic furniture market demand. The plastic furniture market is segmented into type, end user, distribution channel, and region. On the basis of type, the market is divided into kitchen furniture, living & dining room furniture, bathroom furniture, and outdoor furniture.

By end user, it is bifurcated into residential and commercial. On the basis of distribution channel, it is categorized into modern trade, specialty stores, e-commerce, and direct-to-customers. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The outbreak of the COVID-19 pandemic has created a number of challenges for exporters in developing and developed countries. The challenges witnessed by exporters of plastic furniture products are likely to remain for the foreseeable future, as different states and governments around the world attempt to tackle COVID-19 with various measures.

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However, implementation of lockdown and curfew practices globally have affected domestic as well as international production of plastic furniture, which, in turn, hampers growth of the overall market. Thus, the outbreak of COVID-19 has negatively impacted the plastic furniture market in 2020, as sales of companies have reduced and operations have been halted.

Key Market Players Profiled In The Report:

• Avro India Limited
• Cello Group
• Cosmoplast Industrial Company L.L.C.
• Keter Group
• Nilkamal Limited
• Pil Italica Lifestyle Limited
• ScanCom International A/S
• The Supreme Industries Limited
• Tramontina
• Uma Plastics Limited.

Key Findings Of The Study:

○ By type, the kitchen furniture segment dominated the global market in 2019, and is expected to retain its dominance throughout the plastic furniture market forecast period.
○ On the basis of distribution channel, the modern trade segment dominated the global market in 2019, and is expected to retain its dominance throughout the forecast period.
○ Depending on end user, the residential segment led in terms of the plastic furniture market value in 2019, and is expected to continue to grow with robust CAGR during the forecast period.
○ Region wise, North America acquired the largest plastic furniture market share in 2019, and is expected to grow at a CAGR of 4.0%.

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