GCC: Plastic Furniture Market 2024

Plastic Furniture Market Size in GCC

In 2023, after three years of growth, there was decline in the GCC plastic furniture market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2017; however, from 2018 to 2023, consumption remained at a lower figure.

Plastic Furniture Production in GCC

In value terms, plastic furniture production totaled $X in 2023 estimated in export price. The total production indicated a pronounced increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2023, production growth remained at a lower figure.

Plastic Furniture Exports

Exports in GCC

In 2023, exports of furniture of plastic in GCC fell to X units, with a decrease of X% compared with the previous year's figure. In general, exports saw a perceptible decline. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2023, the growth of the exports remained at a lower figure.

In value terms, plastic furniture exports shrank slightly to $X in 2023. Total exports indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2023, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, finishing at X units, which was near X% of total exports in 2023. It was distantly followed by Oman (X units), constituting an X% share of total exports. Saudi Arabia (X units) followed a long way behind the leaders.

Exports from the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2023. Saudi Arabia experienced a relatively flat trend pattern. Oman (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the United Arab Emirates increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest plastic furniture supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Oman ($X), with an X% share of total exports.

In the United Arab Emirates, plastic furniture exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Oman (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

In 2023, the export price in GCC amounted to $X per unit, picking up by X% against the previous year. Export price indicated a strong expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, plastic furniture export price increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2013 an increase of X%. Over the period under review, the export prices reached the maximum in 2023 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Oman ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Plastic Furniture Imports

Imports in GCC

In 2023, plastic furniture imports in GCC reached X units, approximately reflecting the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked at X units in 2016; however, from 2017 to 2023, imports failed to regain momentum.

In value terms, plastic furniture imports stood at $X in 2023. In general, imports, however, saw a pronounced decline. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2023, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates was the major importing country with an import of about X units, which accounted for X% of total imports. Kuwait (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Oman (X%), Qatar (X%) and Bahrain (X%).

From 2012 to 2023, average annual rates of growth with regard to plastic furniture imports into the United Arab Emirates stood at X%. At the same time, Kuwait (X%), Bahrain (X%) and Oman (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2023. By contrast, Qatar (X%) illustrated a downward trend over the same period. While the share of Kuwait (X p.p.) and Oman (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Qatar (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported furniture of plastic in GCC, comprising X% of total imports. The second position in the ranking was held by Kuwait ($X), with a X% share of total imports. It was followed by Qatar, with an X% share.

In the United Arab Emirates, plastic furniture imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and Qatar (X% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2023, increasing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2019 when the import price increased by X%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform