Thailand: Plastic Furniture Market 2024

Plastic Furniture Market Size in Thailand

For the third consecutive year, the Thai plastic furniture market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Plastic Furniture Production in Thailand

In value terms, plastic furniture production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Plastic furniture production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Plastic Furniture Exports

Exports from Thailand

In 2022, shipments abroad of furniture of plastic decreased by X% to X units, falling for the third consecutive year after three years of growth. Over the period under review, exports continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, plastic furniture exports soared to $X in 2022. Overall, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for plastic furniture exports from Thailand, with a X% share of total exports. Moreover, plastic furniture exports to the United States exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X units), fourfold. Cambodia (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (X% per year) and Cambodia (X% per year).

In value terms, the United States ($X) remains the key foreign market for furniture of plastic exports from Thailand, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with a X% share of total exports. It was followed by Lao People's Democratic Republic, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Lao People's Democratic Republic (X% per year).

Export Prices by Country

In 2022, the average plastic furniture export price amounted to $X per unit, rising by X% against the previous year. In general, the export price posted a resilient expansion. The growth pace was the most rapid in 2020 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per unit), while the average price for exports to Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Furniture Imports

Imports into Thailand

In 2022, purchases abroad of furniture of plastic increased by X% to X units, rising for the second year in a row after two years of decline. In general, imports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic furniture imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of plastic furniture to Thailand, accounting for a X% share of total imports. Moreover, plastic furniture imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Japan (X% per year).

In value terms, China ($X) constituted the largest supplier of furniture of plastic to Thailand, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Japan (X% per year).

Import Prices by Country

The average plastic furniture import price stood at $X per unit in 2022, with an increase of X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2021 to 2022, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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