Plastic Furniture Market

Market Overview

The global plastic furniture market size was valued at USD 13,610 million in 2021. It is expected to reach USD 22,994 million by 2030, growing at a CAGR of 6% during the forecast period (2022-2030).

Furniture made of plastic is more efficient and inexpensive than that made of other materials. Additionally, plastic furniture comes in various styles, colors, and designs that make it simple to complement the decor of a house, restaurant, hotel, or business. Plastic furniture is not only beautifully designed and vibrantly colored but also incredibly durable. Metal chairs and wooden chairs are rigid; as a result, they distort or rupture quickly. Conversely, plastic furniture is flexible, making it effortless to stand firm against excessive pressure and damage. Additionally, plastic furniture is more lucrative than wooden and metal furniture. Plastic furniture is also corrosion-resistant. Due to this, it does not leave any marks on tiles, pavements, or other areas of hotels and houses, attracting customers. This significantly boosts the demand for plastic furniture.

Currently, recycled plastic furniture is available widely. This type of furniture is generally made from plastic waste like bottles, toys, and ocean plastic. These plastic wastes are mainly applied while manufacturing outdoor furniture. Many key players are producing plastic furniture by using waste plastics. This initiative is setting a benchmark for sustainable material usage and design. Therefore, the increase in the drift of using recycled plastic furniture by various end-users is projected to generate profitable growth opportunities for the plastic furniture market. However, plastic furniture's most prominent effect is on the environment because it takes a long time to degrade and emit toxic chemicals into the ground. Additionally, plastics are pervasive in marine life, which pollutes the environment and necessitates immediate action, limiting the expansion of the plastic furniture sector.

Market Dynamics

Market Driving Factors

Development in Real Estate and Hospitality Sector

The primary factors driving the plastic furniture industry are rapid urbanization, rising disposable income, rising housing real estate demand, and rising consumer demand for premium and luxury furniture. Due to the real estate and hospitality industry growth, nations like China, India, Brazil, and South Africa have excellent growth potential. On the other hand, a boost in funds in real estate and hospitality sectors, in both developed and developing countries, by different businesses and powerful government assistance to create the infrastructure of real estate and hospitality sector additionally eye-catching drives plastic furniture market growth.

Due to its features like long-lasting durability and water resistance, high-quality plastic furniture infrastructure is also finding significant traction in the residential and commercial sectors, which significantly aids in expanding the global market. Being the two most important units of the economy, real estate and hospitality are being quickly developed in both developed and underdeveloped areas. Therefore, increased investment in these areas has fueled the demand for plastic furniture.

Increasing Demand for Inexpensive, Frivolous, and Long-Lasting Plastic Furniture

Individuals worldwide prefer plastic furniture, which is more frivolous, long-lasting, and inexpensive than furniture made from metal and wooden materials. Additionally, buyers gravitate toward plastic furniture as metal, and wooden chairs are relatively stiff and more prone to breakage and distortion. The higher flexibility of plastic furniture, on the other hand, makes it more pressure-resistant. In addition, plastic furniture is less expensive than hardwood and metal furniture. As a result, plastic furniture has an advantage on the world market. Furthermore, plastic furniture is flexible and easily movable. In addition, improved resistance of plastic furniture to decomposition is a primary factor driving the market growth.

Market Restraining Factors

Plastic furniture is Not Environment Friendly

Plastic furniture's most harmful effect is on the environment since it takes a long time to degrade and releases toxic chemicals into the ground. Additionally, plastics are pervasive in the marine environment, which pollutes the environment and necessitates immediate action. Further, the presence of plastic threatens both agricultural land and marine life. This is explained by the fact that plastic is to blame for the deterioration of the atmosphere and agricultural land, which continuously consume valuable earth resources, particularly oil. This is currently posing a threat to agricultural and environmental production. Therefore, the negative impacts of plastic on marine life and agricultural land limit the market's expansion for plastic furniture.

Key Market Opportunities

Eco-Friendly Furniture

During the projection period, a significant increase in the global trend toward going green is anticipated to drive up demand for furniture made of biodegradable plastic. Due to growing awareness of biodegradable products, other stakeholders are also concentrating on creating sustainable furniture. Additionally, raising environmental concerns worldwide, increasing deforestation, and installing rigorous government restrictions on tree-cutting have created profitable opportunities for the plastic furniture sector. Using environmentally friendly materials and building techniques for indoor furniture or sustainable urban furniture has also fueled the expansion of the plastic furniture business. As a result, consumers' increased use of eco-friendly products motivates stakeholders to alter their manufacturing processes, which is anticipated to spur the market for plastic furniture to grow.

Regional Analysis

Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA.

The Asia-Pacific and North America are anticipated to lead the regional market

The Asia-Pacific will command the market while expanding at a CAGR of 7.91% by 2030. The region includes most of the developed and developing countries. This region is experiencing rapid urbanization. As a result, individuals from this region are adopting a convenience-oriented lifestyle. Hence, they find plastic furniture additionally attractive. Additionally, increased consumer awareness of various plastic furniture products drives sales even more. Furthermore, the Asia-Pacific region has the highest population, leading to increased purchasing of plastic furniture.

The Asia-Pacific plastic furniture market is lucrative for businesses looking to grow their clientele and broaden their geographic reach. A variety of plastic furniture products are available in this region from well-known significant brands like Nilkamal Limited, Cello Group, and Avro India Limited. The critical driving force spurring the growth of the Asia-Pacific plastic furniture market is the rise in the use of plastic furniture goods in nations like China and India. Their expansion has also aided the rise of the real estate and hotel industries.

North America will hold the second-largest market share of USD 7,297 million by 2030, at a CAGR of 4.23%. Businesses are developing innovative items to stay competitive in the North American plastic furniture market. They are launching new items to grow their consumer base and expand their commercial operations throughout several nations in this region. High consumer purchasing power brought on by rising disposable income and stable economic conditions are some of the key reasons driving the growth of the plastic furniture industry. Additionally, a better standard of living among people helps to drive up plastic furniture sales in North America.

Segmental Analysis

The global plastic furniture market is segmented by type, end-user, distribution channel, and region.

Depending on the type, global plastic furniture is segmented into kitchen furniture, living & dining room furniture, bathroom furniture, and outdoor furniture.

The kitchen furniture segment is forecasted to hold the largest market share and grow at a CAGR of 4.21%. This segment includes essential furniture for households, such as dining tables, chairs, cabinets, kitchen racks, and kitchen stands and trolleys. Families prefer using plastic furniture for the kitchen as it is easy to clean and necessitates little maintenance. There is an increase in modular kitchens and cabinets made of plastic as these are waterproof, termite-free, oil-proof, and anticorrosive. This extensively drives the market growth.

The living and dining room furniture segment will hold the second-largest share. It comprises essential furniture like chairs, tea tables, dining tables, wardrobes, and stools. The plastic furniture market is expanding due to rising household incomes, improved lifestyles, and more investments in home infrastructure. Additionally, the plastic furniture market is increasing due to stakeholders changing their manufacturing lines in response to stakeholder pressure to use eco-friendly products.

Based on the end-user, the plastic furniture market is categorized into residential and commercial.

The residential section will likely have the highest shareholding and grow at a CAGR of 5.43%. This segment includes almost every type of furniture. As households are primary consumers of plastic furniture, this segment demonstrates the highest growth. Additionally, a rise in the demand for plastic furniture to improve the aesthetics of home infrastructure is accelerating market expansion. A large client base has also been drawn by the increase in low-cost, durable plastic furniture production, which has increased sales for the producers.

The commercial section will hold the second-largest share. The designs of commercial plastic furniture differ from residential ones as the infrastructure is high-end. The need for plastic furniture for commercial use is fueled by increased commercial establishments, such as corporate offices, hospitals, and schools, as well as the preference for high-end infrastructure. Future predictions indicate that this growth tendency will continue, and market participants should have a lot of room to grow.

Per the distribution channel, the global plastic furniture market is categorized into modern trade, specialty stores, e-commerce, and direct-to-consumer.

The modern trade segment is expected to have the highest shareholding and grow at a CAGR of 5.73%. Modern trade primarily comprises supermarkets/hypermarkets. As a result of urbanization, these supermarkets/hypermarkets are gaining a reputation, especially in developed and developing countries. These markets offer a wide variety of plastic furniture from which the consumer can select as per their preference. Additionally, these markets are generally situated near residential areas and are easily accessible.

The specialty store section will hold the second-largest share. Specialty stores exclusively sell furniture. Hence, these stores concentrate on selling exacting product ranges. Additionally, these stores provide superior service and professional assistance that helps consumers to select the appropriate product. These factors highly contribute to market growth. These shops give customers high-quality customer care, thorough product descriptions, and knowledgeable advice, which help these products sell better. Additionally, coupon and voucher programs are famous for creating a powerful brand image and drawing in a sizable consumer base, which supports the expansion of the plastic furniture sector.

Recent Developments

• In 2022, Tramontina USA goes on a voyage towards a brighter future in conjunction with Voice of the Oceans, a global adventure across the seas with a mission to raise awareness about plastics in the oceans and to help identify new solutions to tackle the issue.
• In 2022, Tramontina USA unveiled its sustainability initiative: a switch from single-use, non-recyclable poly bags to bags with at least 90% recycled (LDPE) content, lowering packaging CO2 emissions by over 60%.