Plastic Shutters And Blinds Market

The global plastic shutters and blinds market is set to see continued growth from 2022 to 2030, with consumption expected to reach 1.5B units and market value projected to hit $18.2B by the end of 2030. The top consuming countries include China, the United States, and Turkey, with notable growth rates in market size and per capita consumption. Production volumes are on the rise, although imports and exports show fluctuations. Overall, the market shows promising developments and expanding opportunities for industry players.

Market Forecast

Driven by increasing demand for plastic shutters and blinds worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +4.4% for the period from 2022 to 2030, which is projected to bring the market volume to 1.5B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.3% for the period from 2022 to 2030, which is projected to bring the market value to $18.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Plastic Shutters And Blinds

Global plastic shutters and blinds consumption expanded to 1.1B units in 2022, with an increase of 2.1% compared with 2021. Overall, the total consumption indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.9% 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 +3.2% against 2020 indices. Over the period under review, global consumption hit record highs at 1.2B units in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

The global plastic shutters and blinds market revenue stood at $11.2B in 2022, therefore, remained relatively stable 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). Over the period under review, the total consumption indicated resilient growth 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, consumption increased by +3.3% against 2020 indices. Global consumption peaked at $12.3B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (306M units), the United States (167M units) and Turkey (60M units), with a combined 50% share of global consumption.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +14.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($1.5B), China ($1.4B) and the United States ($1.4B) constituted the countries with the highest levels of market value in 2022, with a combined 38% share of the global market. Indonesia, Germany, France, Turkey, Mexico, Egypt, South Korea, Spain, South Africa and Thailand lagged somewhat behind, together comprising a further 36%.

In terms of the main consuming countries, Spain, with a CAGR of +14.8%, recorded the highest growth rate of 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 shutters and blinds per capita consumption in 2022 were Turkey (699 units per 1000 persons), France (536 units per 1000 persons) and Germany (525 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Turkey (with a CAGR of +13.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Plastic Shutters And Blinds

In 2022, production of plastic shutters and blinds was finally on the rise to reach 1B units for the first time since 2019, thus ending a two-year declining trend. Overall, the total production indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -16.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 21%. Over the period under review, global production hit record highs at 1.2B units in 2019; however, from 2020 to 2022, production failed to regain momentum.

In value terms, plastic shutters and blinds production reduced modestly to $11B in 2022 estimated in export price. In general, the total production indicated strong growth from 2012 to 2022: its value 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, production increased by +8.1% against 2020 indices. The growth pace was the most rapid in 2016 when the production volume increased by 23% against the previous year. Over the period under review, global production reached the maximum level at $11.8B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

The country with the largest volume of plastic shutters and blinds production was China (387M units), accounting for 38% of total volume. Moreover, plastic shutters and blinds production in China exceeded the figures recorded by the second-largest producer, Turkey (62M units), sixfold. The third position in this ranking was held by Indonesia (54M units), with a 5.3% share.

In China, plastic shutters and blinds production expanded at an average annual rate of +2.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (+14.9% per year) and Indonesia (+10.7% per year).

Imports

World Imports of Plastic Shutters And Blinds

After four years of growth, purchases abroad of plastic shutters and blinds decreased by -5.4% to 262M units in 2022. Over the period under review, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 42% against the previous year. As a result, imports reached the peak of 277M units, and then contracted in the following year.

In value terms, plastic shutters and blinds imports declined slightly to $2.2B in 2022. In general, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +71.8% against 2012 indices. The pace of growth was the most pronounced in 2021 with an increase of 19% against the previous year. As a result, imports attained the peak of $2.2B, leveling off in the following year.

Imports By Country

The United States prevails in imports structure, reaching 159M units, which was near 60% of total imports in 2022. It was distantly followed by the UK (14M units), generating a 5.5% share of total imports. The following importers - France (7.4M units), Australia (7.3M units), the Netherlands (5.1M units), Hungary (4.1M units) and Poland (4M units) - together made up 11% of total imports.

Imports into the United States increased at an average annual rate of +12.7% from 2012 to 2022. At the same time, Hungary (+24.3%), Poland (+14.7%), the UK (+12.8%), the Netherlands (+6.8%) and France (+4.7%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing importer imported in the world, with a CAGR of +24.3% from 2012-2022. Australia experienced a relatively flat trend pattern. While the share of the United States (+21 p.p.) and the UK (+1.9 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Australia (-3.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($1B) constitutes the largest market for imported plastic shutters and blinds worldwide, comprising 47% of global imports. The second position in the ranking was taken by Australia ($119M), with a 5.4% share of global imports. It was followed by the UK, with a 5.1% share.

In the United States, plastic shutters and blinds imports increased at an average annual rate of +5.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Australia (+10.6% per year) and the UK (+10.9% per year).

Import Prices By Country

The average plastic shutters and blinds import price stood at $8.4 per unit in 2022, with an increase of 4.8% against the previous year. Overall, the import price, however, saw a perceptible contraction. The pace of growth was the most pronounced in 2018 when the average import price increased by 10% against the previous year. As a result, import price attained the peak level of $12 per unit. From 2019 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($20 per unit), while Hungary ($4.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+11.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Plastic Shutters And Blinds

In 2022, approx. 206M units of plastic shutters and blinds were exported worldwide; falling by -6.9% against the year before. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 18% against the previous year. The global exports peaked at 234M units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic shutters and blinds exports fell to $2.2B in 2022. Over the period under review, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +65.7% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of 21% against the previous year. As a result, the exports attained the peak of $2.3B, and then contracted slightly in the following year.

Exports By Country

In 2022, China (81M units) represented the main exporter of plastic shutters and blinds, comprising 40% of total exports. Mexico (22M units) took the second position in the ranking, followed by Cambodia (20M units), Belgium (14M units) and Vietnam (11M units). All these countries together held approx. 33% share of total exports. The following exporters - Taiwan (Chinese) (8.2M units), Poland (8.1M units), Germany (6.7M units), the United States (6.4M units), Spain (4.2M units) and the Netherlands (3.4M units) - together made up 18% of total exports.

Exports from China decreased at an average annual rate of -7.0% from 2012 to 2022. At the same time, Cambodia (+53.1%), Vietnam (+33.3%), Poland (+15.7%), Belgium (+11.2%), Mexico (+7.5%), the United States (+5.8%), Taiwan (Chinese) (+3.7%), the Netherlands (+3.1%) and Germany (+2.2%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in the world, with a CAGR of +53.1% from 2012-2022. By contrast, Spain (-1.5%) illustrated a downward trend over the same period. While the share of Cambodia (+9.8 p.p.), Mexico (+5.9 p.p.), Vietnam (+5 p.p.), Belgium (+4.8 p.p.) and Poland (+3.1 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of China (-35.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest plastic shutters and blinds supplying countries worldwide were China ($487M), Belgium ($261M) and Cambodia ($256M), together accounting for 46% of global exports.

Cambodia, with a CAGR of +53.5%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average plastic shutters and blinds export price amounted to $11 per unit, increasing by 3.6% against the previous year. Overall, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic shutters and blinds export price increased by +89.1% against 2012 indices. The pace of growth appeared the most rapid in 2015 an increase of 15% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($21 per unit), while China ($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 (+6.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform