Plastic Furniture Market Is Anticipated To Grow At CAGR Of 6% during Forecast Period By 2028

Plastic Furniture Market

The plastic furniture market grew at 4.4% CAGR between 2013 and 2017, as the market gained momentum with development of high-performance plastic materials suitable for manufacturing durable plastic furniture.

The market landed US$ 23.3 billion in 2018, and is expected to witness 5.3% y-o-y by the end of 2019. Manufacturers will continue to launch innovative materials and designs of plastic furniture to capitalize on lucrative sales opportunities. 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

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The readability score of the Plastic furniture market Demand report is good as it offers chapter-wise layout with each section divided into a smaller sections.

The report encompasses graphs and tables to show the entire assembling. Pictorial demonstration of the definite and estimated values of key segments is visually appealing to readers.

This Plastic furniture market outlook report explicates on vital dynamics such as the drivers, restraints and opportunities for key players and competitive analysis of Plastic furniture market along with key stakeholders as well as emerging players associated with the manufacturing of product.

Competitive landscape:

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:

  • ecoBirdy – a European furniture manufacturing company co-founded by the COSME programme of the European Union – recently launched ecoBirdy recycled plastic furniture collection for kids. The company also announced that the complete line of furniture is 100% recyclable and free from harmful chemicals, as it used flakes from recycled plastic toys to add a unique colors to the furniture.
  • Envirotech Waste Recycling, Inc. is a start-up based in Philippines and the company recently announced that it is focusing on manufacturing fully recycled school classroom chair made of recyclable plastic waste products, such as single-use plastic straws, packaging waste, and candy wrappers.
  • Outer Inc. – a U.S.-based furniture company – announced that the company is launching recyclable outdoor plastic furniture made of recycled plastic bottles, making patio furniture as comfortable, stylish, and durable as indoor furniture.
  • ScanCom International A/S, an outdoor furniture industry headquartered in Denmark, recently launched ‘DuraOcean’ – its line of outdoor furniture made of ocean plastic.
  • Paola Calzada Arquitectos, a Mexican architecture firm, announced that it started producing recycled plastic furniture to reduce ocean plastic waste.

Key Growth Drivers:

  • The quest for lightweight and cost-effective materials within the furniture industry is leading to the adoption of plastics instead of heavy metals in contemporary furniture designs. Thanks to the impressive performance properties of plastic, the demand for plastic furniture is poised to experience rapid growth in the coming years.
  • Innovation is a driving force, with scientists and researchers actively exploring ways to enhance the characteristics of thermoplastics. This pursuit aims to empower plastic furniture manufacturers to reduce production costs while offering unique and compelling designs. This strategic move is in line with the growing sales potential of plastic furniture.
  • Manufacturers in the plastic furniture market are adapting their business strategies to tap into the expanding e-commerce sector as a viable distribution channel. This shift is prompted by the strong inclination of millennial consumers toward online furniture purchases.
  • In tandem with the rising awareness of the detrimental effects of plastic pollution on the environment, the adoption of recycled plastic materials is expected to gain momentum within the plastic furniture market.

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Questionnaire answered in the Market outlook Report of Plastic furniture market include:

  • What is the key strategy deployed by large players to maximize Plastic furniture market growth?
  • What are the main challenges faced by players in the Plastic furniture market Demand?
  • With the advent of technological advancement, how will the Plastic furniture market landscape change over the forecast period?
  • What does player bring to the table which is unique as a strategy, and is easy to emulate for

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