Plastic Furniture Market - Industry Analysis & Opportunity Assessment
Posted by Arslan on June 21st, 2019
The global market for plastic furniture is expected to witness 5.3% y-o-y over 2018, crossing US$ 24 billion by the end of 2019, unveils a recent Fact.MR study. Increasing demand for low-cost, lightweight, and durable plastic furniture in various end-use sectors is driving end-users to adopt plastic furniture instead of traditional, wooden or metal furniture.
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What are the Key Growth Drivers of Plastic Furniture Market?
What are the Key Challenges in the Plastic Furniture Market?
Plastic Furniture Market – Notable Developments
Leading manufacturers in the plastic furniture market account for over 45% revenue share of the market. Market leaders are predominantly focusing on expanding distributors’ network and strengthening their geographical foothold in the market. New entrants and start-ups in the plastic furniture market are concentrating on launching innovative designs and cheaper alternatives to plastic furniture to gain recognition and create brand identity in the market.
A mounting number of small businesses are entering the plastic furniture market with an environmental conscience by launching new designs of plastic furniture made of recycled plastic, in order to capitalize on the growing consumer demand for eco-friendly products. Some of the examples include:
Tramontina is a Brazilian furniture company, established in 1911 and headquartered in the city of Carlos Barbosa, Rio Grande do Sul. The company operated through over ten manufacturing plants in Brazil and offers a wide range of plastic furniture including chairs and tables, benches and stools, shelves, sofa and arm chairs, and the lounge chairs.
Established in 1948, Keter Group is a manufacturer and marketer of resin-based household and garden furniture products, headquartered in Herzliya, Israel. Keter Plastic – a subsidiary of Keter Group – provides a variety of furniture and storage and organization solutions. The company operates through eighteen manufacturing facilities, two distribution centers, and over 100 sales offices worldwide.
Vitra International AG was founded in 1950 as a family-owned company with headquarters in Birsfelden, Switzerland. Vitra International offers designer furniture for home, office, and institutional organizations. The company manufactures furniture in Europe, and operates through its subsidiaries worldwide.
UMA Plastics Limited was established in 1999 with headquarters in Kolkata, India. UMA Plastics Limited is a leading stakeholder in the plastic injection molding industry and a manufacturer, importer, and exporter in the plastic furniture market. Through its brand 'SWAGATH', the company offers injection molding solutions and plastic furniture including molded chairs, center tables, dining tables, plastic stools, and plastic stadium and auditorium chairs.
Founded in 1970, Cosmoplast Industrial Company L.L.C. is a leading manufacturer and developer of outdoor recreation, pipeline systems and thermoformed disposable products. The company is headquartered in Sharjah, United Arab Emirates, and operated through its manufacturing facilities in Kingdom of Saudi Arabia, United States, United Arab Emirates, and Commonwealth of Independent States (CIS).
Other leading players operating in the plastic furniture market, include Supreme Group, Avon Furniture Factory L.L.C, Cello Wim Plast Ltd., Patio Furniture Industries, Conover, NC, Nilkamal Furniture, and Maitri Plastic Industries. Key plastic resin manufacturers are LyondellBasell Industries, SABIC, Exxon Mobile Corporation, Sumitomo Chemical Co., Ltd., Reliance Industries Limited, INEOS, LG Chem, BASF SE, and DowDuPont.
The global market for plastic furniture has been witnessing healthy growth with commercial sector accounting for more than one-third share of the market revenues. However, with the increasing growth of the construction industry worldwide, especially in developing countries, the demand for plastic furniture is expected to surge significantly in the residential sector.
Increasing demand for wood and metal furniture in the commercial real estate is driving commercial buyers away from the plastic furniture market. Moreover, increasing discretionary spending and government incentives boosting developments in the residential construction projects are generating high sales potential for plastic furniture in the residential sector. Leading manufacturers in the plastic furniture market shifting their focus on residential buyers to unlock profitable growth opportunities in the coming future.
About the AuthorArslan
Joined: December 18th, 2017
Articles Posted: 13,297
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