Summary

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.

Key Highlights
Ongoing developments in engineered plastics and growing focus on recyclable plastics will remain instrumental in shaping the future of the plastic furniture market, opines the study.
The market gained momentum with development of high-performance plastic materials suitable for manufacturing durable plastic furniture.
Manufacturers will continue to launch innovative materials and designs of plastic furniture to capitalize on lucrative sales opportunities.
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.


Key Market Trends

Commercial End-Use Segment is Dominating the Market

The plastic furniture has been witnessing healthy growth with the 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.

Asia-Pacific is Anticipated to Grow at Highest Rate

The Asia Pacific is expected to grow at a significant growth in the global plastic furniture market due to rising disposable incomes, increasing awareness among the general population regarding its plastic furniture, India and China are the most dominated countries in the region. The market in Africa is expected to grow as a good rate in the plastic furniture industry. The Middle East and Africa market gaining attraction of the investment for the companies for more scope in the regions and expected to rise healthy growth over the forecast period.

Competitive Landscape

The report covers major international players operating in the Plastic Furniture Market. In terms of market share, few of the major players currently dominate the market. However, demand is driven by consumer income. Large companies compete through volume purchasing, breadth of products, and effective merchandising and marketing. Small companies focus on a market segment and compete through the depth of products and superior customer service.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

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