According to the latest report by IMARC Group, titled "Plastic Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global plastic furniture market reached a value of US$ 13.5 Billion in 2021. Plastic furniture is generally manufactured from polyvinyl chloride, polymers and polypropylene materials. It is usually colored using UV-inhibited pigments in order to protect the furniture from the effects of ultraviolet rays. It is widely used as a preferred alternative to steel-based furniture since it is lightweight, corrosion-resistant, thermally insulative and durable in nature. Also, it is a cost-efficient substitute for wood-based furniture; hence is extensively utilized across the commercial and residential segments. The easy product availability via online and offline organized retail channels is providing a boost to the market across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Plastic Furniture Market Trends:
The global market is primarily driven by the shifting lifestyle preferences of the masses. Coupled with the inflating disposable income levels of individuals and the increasing demand for furniture with enhanced comfort, this has created a positive market outlook. In line with this, numerous leading players are heavily investing in launching premium quality and multi-functional product variants in the market, which are projected to gain widespread prominence among the masses. Along with this, the availability of diversified product options with modern design is further propelling the market growth. Moreover, the rising investments by private and public firms in infrastructural development projects are bolstering the growth of the market on the global level. Other factors, including rapid urbanization, the shifting consumer preference towards replacing aging furniture with contemporary furnishings and the advent of online delivery models, are positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 17.8 Billion by 2027, exhibiting a CAGR of 4.6% during 2022-2027.
- On the basis of the type, the market has been segmented into kitchen furniture, living and dining room furniture, bathroom furniture, outdoor furniture and others.
- Based on the distribution channel, the market has been segregated into supermarkets and hypermarkets, specialty stores, online stores and others.
- On the basis of the end-user, the market has been bifurcated into residential and commercial.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Ashley Furniture Industries Inc., Avro India Limited, Harwal Group, Inter IKEA Systems B.V., Keter Group, Kristalia Srl, Nilkamal Limited, ScanCom International A/S, Supreme Industries Limited, Tramontina, UMA Plastics Limited and Vitra International AG.
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