Market Size of Plastic Furniture Industry
|Study Period||2019 - 2028|
|Market Size (2023)||USD 14.60 Billion|
|Market Size (2028)||USD 17.98 Billion|
|CAGR (2023 - 2028)||4.25 %|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Plastic Furniture Market Analysis
The Plastic Furniture Market size is expected to grow from USD 14.60 billion in 2023 to USD 17.98 billion by 2028, at a CAGR of 4.25% during the forecast period (2023-2028).
With the onset of the pandemic, the booming sector of plastic furniture was heavily impacted due to the restriction and lockdown in the initial period. The manufacturing index also showed a drastically declined number for the month of March, April, and May of 2020. The furniture industry bounced back with the rise in work or study from furniture in the latter half of 2020. The pandemic also resulted in the need for privacy and personalized space within the house that was required for the work-from-home or study-from-home, which resulted in an increase in demand for WFH furniture.
Due to the increased demand for inexpensive, lightweight, and durable plastic furniture in a range of end-use industries, consumers are selecting plastic furniture over traditional, wooden, or metal furniture.
The study concludes that the development of the plastic furniture business will be greatly influenced by ongoing improvements in engineered plastics and an increasing focus on recyclable plastics. The industry gained momentum with the development of high-performance plastic polymers ideal for making durable plastic furniture. The makers of plastic furniture will keep producing new types of plastic and furniture designs to capitalize on possible sales prospects. Small businesses are entering the plastic furniture market with innovative designs of recycled plastic furniture to take advantage of the growing consumer demand for eco-friendly products.