Plastic Furniture is beneficial to use as they are affordable, durable, lightweight, requires low or no maintenance, provides resistance to corrosion, good weather ability, and flexibility. The global Plastic Furniture market is being driven by the growing trend for interior designing, an expanding plastic industry, and favorable government initiatives to boost the construction activities that involve housing in various regions. For instance: according to Statista, plastic production in the world has been increased from 359 million tons in 2018 to 368 million tons in 2019. Also, in March 2021, the Government of Canada announced the scheme Rapid Housing Initiative in Vancouver USD 13.1 million to create up to 91 new affordable homes. Likewise, in 2015, the Indian Government announced the scheme Pradhan Mantri Awas to provide affordable housing to the urban poor with a target of building 2 crore affordable houses by 31 March 2022. Furthermore, the growing trend of nuclear families along with the rising urbanization also supports the market growth. However, pollution caused while manufacturing plastic and lack of elegance in the plastic furniture as compared to the wooden & metal furniture may impede market growth over the forecast period of 2021-2027. Also, with the increase in investments in real estate and sustainable technological innovation in the innovation, the adoption & demand for Plastic Furniture is likely to increase.
Global Plastic Furniture Market is valued approximately at USD 12.85 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 3.9% over the forecast period 2021-2027 and is estimated to reach USD 16.80 billion by 2027.
The Asia Pacific is leading as well as anticipated to exhibit the highest CAGR over the forecast period 2021-2027 among the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-Pacific is the leading region across the world in terms of market share due to the growing population, enhanced standards of living, increasing households and manufacturing base for the plastic industry.
Major market players included in this report are Tramontina, Cosmoplast Industrial Company L.L.C, Supreme Group, Cello Wim Plast Ltd, Nilkamal Furniture, Avon Furniture Factory L.L.C, Keter Group, Vitra International AG, Patio Furniture Industries, and UMA Plastics Limited.
The detailed segments and sub-segment of the market are explained below:
By Distribution Channel: Online, Offline
By Application: Residential, Commercial
Furthermore, the years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Plastic Furniture Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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