Plastic Furniture Market: Global Industry Analysis and Forecast (2023-2029)

Plastic Furniture Market is expected to grow at a CAGR of 7% during the forecast period. Global Plastic Furniture Market is expected to reach US$ 25.18 bn by 2029.
Plastic Furniture Market Overview:
Plastic Furniture is made of polyethylene and polypropylene. It is waterproof, lightweight, durable at a wide range of outdoor temperatures, and resistant to damage from ultraviolet light in sunshine. It is most often found in the form of chairs and tables on patios and other places where the elements quickly wear out or ruin wooden furniture. Factors like affordability, durability, lightweight, low maintenance, eco-friendly, resilient to corrosion, no effect of termites and bugs, and flexibility, etc. are driving the industry exponentially.
Plastic Furniture Market Snapshot
To know about the Research Methodology :- Request Free Sample Report
Plastic Furniture Market Dynamics:
Increase in nuclear families, there has been a rise in portable and easy moving furniture in compact modular homes. This furniture has ease of molding, designing, and shaping as per application with wide range availability. Demand for versatile, lightweight, flexible, and multi-functional furniture offering easy portability in the growing real estate and hospitality industry. These factors are driving the market growth of plastic furniture.

Development of high-performance plastic materials which is appropriate for manufacturing durable plastic furniture. The introduction of innovative materials and designs is driving the demand for plastic furniture.

Launching eco-friendly furniture by manufacturers to target increasing consumers with awareness regarding eco-friendly products. The increasingly popular trend to go green is driving the market growth for ecological plastic furniture.

Recycled plastic such as oceanic plastics, plastic bottles, etc. is being used innovatively in wide applications in outdoor furniture with cost-efficiency. This trend is driving the demand for the product. Many manufacturers are introducing 100 % recycled products from ocean and land waste.

Lack of characteristics and elegant design like metal or wooden furniture due to similar molding of PVC and limits the aesthetics and design. These factors are restraining the market demand for the product.

Plastic is non-biodegradable and is harmful to the environment. Consumer preferences have been inkling towards eco-friendly products. This factor is restraining the market growth of the plastic furniture market.
Plastic Furniture Market Segment Analysis:
By Type, the Kitchen segment dominated the market with a 32 % share in 2022. A wide range of products, various color variants, a wide variety of polymers for chipboard panels, use of Formica resins in ladle, cups, plates, etc. is the factors driving the demand for the product. Rising high lifestyles and demand for fancy interiors are the factors driving the growth of the plastic furniture market.

The bathroom segment is expected to grow at a CAGR of 6.5 % through the forecast period. The rise in bathroom interiors, wide variety of products such as stools, bathtubs, faucets, etc. are available in good quality plastic and less price than steel, etc. are the factors expected to drive the market growth through the forecast period.

By Distribution Channel, Offline distribution channel dominated the market with a 60 % share in 2022. Assessing the product, feeling the product, aesthetics, size has been the tradition. Parking space and convenient operation timings, rise in urbanization are driving the demand for the offline channel. AR and VR are introduced innovatively in the offline segment. Allowing shoppers to design space with 3D furniture images, checking if the product fits the requirement. These factors are driving the market growth of the segment.

The online segment is expected to grow at a CAGR of 6.8 % through the forecast period. The rise in E-Commerce due to the availability of a wide range of products, discounts on products, the convenience of purchasing g, access to different sizes, color even customization option, easy comparison, etc. are the factors expected to drive the market growth of plastic furniture through the forecast period.

By Application, the Residential segment dominated the market with a 57 % share in 2022. Increasing demand from medium-income population, growing preference for a playroom, rapid urbanization, soft and safe children's furniture, and surging demand for outdoor furniture are the factors driving the market growth of the segment. Increasing residential projects, growth of the construction industry, and government tender for residential societies for low- medium-income populations are also driving the market growth of plastic furniture.

The commercial segment is expected to grow at a CAGR of 5 % through the forecast period. Growing IT industries, increasing office spaces, rise in restaurant and hotel industry, and growing tourism across the world are the factors expected to drive the demand for plastic furniture in commercial segments. Demand for plastic furniture such as chairs and tables in large-scale events on a contract basis. These are the factors expected to drive the growth of the market through the forecast period.
Plastic Furniture Market Regional insights:
North America dominated the market with a 27 % share in 2022. High-income population and developed IT industry and expanding offices are the factors driving the market growth of the region.

Asia Pacific is expected to grow at a CAGR of 12 % through the forecast period. Growing low-mid population, rise in households, and surge in IT sector, office spaces, etc. are the factors expected to drive the demand in the market. Growing residential infrastructure and the presence of leading manufacturers in countries like India, Japan, etc. are factors expected to drive the market growth of plastic furniture through the forecast period.

The objective of the report is to present a comprehensive analysis of the Plastic Furniture market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Plastic Furniture market dynamics, structure by analyzing the market segments and projecting the Plastic Furniture market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Plastic Furniture market make the report investor’s guide.
Plastic Furniture Market Scope: Inquire before buying



Global Plastic Furniture Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 15.68 Bn.


Forecast Period 2023 to 2029 CAGR:
7%
Market Size in 2029:
US $ 25.18 Bn.


 Segments Covered:
by Type
Kitchen
Living and Dining
Bathroom
Outdoor


by Distribution Channel
Online
Offline


by Application
Residential
Commercial



Plastic Furniture Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and the Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and the Rest of APAC)
South America (Brazil, Argentina Rest of South America)
Middle East & Africa (South Africa, GCC, Egypt, Nigeria and the Rest of ME&A)
Plastic Furniture Market Key Players
1. IKEA
2. UMA Plastics Limited
3. Patio Furniture Industries
4. Avon Furniture Factory L.L.C
5. Walmart
6. Ashley Furniture Industries, Inc.
7. Keter Group
8. Vitra International AG
9. Cosmoplast Industrial Company L.L.C.
10. Berkshire Hathaway Inc.
11. Foliot Furniture
12. Nilkamal Limited
13. La-z-boy
14. Sleep Number
15. Telos Furniture
16. Tramontina
17. Cello Wim Plast Ltd.
FAQ:
1] What segments are covered in the Plastic Furniture Market report?
Ans. The segments covered in the Plastic Furniture Market report are based on Type, Distribution Channel, and Application.

2] Which region is expected to hold the highest share in the Plastic Furniture Market?
Ans. Asia Pacific Region is expected to hold the highest share in the Plastic Furniture Market.

3] What is the market size of the Plastic Furniture Market by 2029?
Ans. The market size of the Plastic Furniture Market by 2029 is US $ 25.18 Bn.

4] Who are the top key players in the Plastic Furniture Market?
Ans. IKEA, UMA Plastics Limited, Patio Furniture Industries, Avon Furniture Factory L.L.C, Walmart, Ashley Furniture Industries, Inc., Keter Group, Vitra International AG, Cosmoplast Industrial Company L.L.C., Berkshire Hathaway Inc., Foliot Furniture, Nilkamal Limited, La-z-boy, Sleep Number, Telos Furniture, Tramontina, Cello Wim Plast Ltd.

5] What was the market size of the Plastic Furniture Market in 2022?
Ans. The market size of the Market in 2022 was US $ 15.68 Bn.