Press release
Plastic Furniture Market Set to Expand At a Staggering 5.8% CAGR, Reaching $19,075.3 Million by 2027
According to a new report published by Allied Market Research, titled, "Plastic Furniture Market" by Type, End User (Residential and Commercial), and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. ๐๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐ฉ๐ฅ๐๐ฌ๐ญ๐ข๐ ๐๐ฎ๐ซ๐ง๐ข๐ญ๐ฎ๐ซ๐ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ฌ๐ข๐ณ๐ ๐ฐ๐๐ฌ ๐ฏ๐๐ฅ๐ฎ๐๐ ๐๐ญ $๐๐.๐ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐ข๐ง ๐๐๐๐, ๐๐ง๐ ๐ข๐ฌ ๐ฉ๐ซ๐จ๐ฃ๐๐๐ญ๐๐ ๐ญ๐จ ๐ซ๐๐๐๐ก $๐๐.๐ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐๐ฒ ๐๐๐๐, ๐ซ๐๐ ๐ข๐ฌ๐ญ๐๐ซ๐ข๐ง๐ ๐ ๐๐๐๐ ๐จ๐ ๐.๐% ๐๐ซ๐จ๐ฆ ๐๐๐๐ ๐ญ๐จ ๐๐๐๐.Download Sample Pages of Research Overview @https://www.alliedmarketresearch.com/request-sample/11639
Availability of recycled plastic furniture, which is made from plastic waste such bottles, plastic toys, and ocean plastic finds its application in outdoor furniture. Various stakeholders are creating plastic furniture by using a waste plastics. For instance, ScanCom International A/S is an outdoor furniture company, which recently introduced DuraOcean and DuraLand, which are plastic furniture completely made from recycled maritime plastic waste, setting a benchmark for sustainable material usage and design.
The rise in popularity of modular kitchens and kitchen cabinets is significantly driving the expansion of the global plastic furniture market. Poly-vinyl chloride (PVC) stands out as a preferred material for modular kitchen cabinets due to its cost-effectiveness compared to wooden alternatives. Notably, stakeholders in the hospitality sector, including motels, hotels, and restaurants, constitute major consumers of outdoor plastic furniture.
Furthermore, demand for plastic furniture is bolstered by products like decorative lounge chairs, upholstery, and tables. Recent years have witnessed a transformation in the tourism industry, fueled by increased disposable income and higher spending on travel. Modern lifestyle choices and socializing trends, such as outdoor dining, backyard grilling, and social gatherings, further contribute to the surge in demand for plastic furniture. Developing countries like India, China, and South Africa are witnessing significant adoption of plastic furniture due to evolving consumer lifestyles, rising disposable incomes, and a growing preference for attractive plastic furniture. Additionally, the proliferation of online portals globally, coupled with increased offers and discounts, attracts a large consumer base to purchase plastic furniture through online channels. Consequently, online sales have emerged as a key revenue source for many companies, expanding consumer reach in the process.
Moreover, eco-Birdy a European furniture manufacturing company has currently launched ecoBridy recycled plastic furniture for kids. The company further announced that its complete line of production plastic furniture is 100% recyclable and does not contain any harmful chemical. Hence, rise in trend of using recycled plastic furniture by various stakeholders is expected to create lucrative opportunity for the plastic furniture market growth. However, the major impact of plastic furniture is on the environment, as it takes many years to decompose and releases harmful toxins into the soil. Moreover, plastics are omnipresent in the marine environment, thus polluting environment and requiring urgent actions.
Plastic furniture is more affordable and efficient as compared to other materials. Moreover, plastic furniture are available in various designs, types, and colors that can easily match the ambience of home, restaurant, hotel, and offices which is also the current plastic furniture market trend. Apart from having flawless designs and vibrant colors, plastic furniture are extremely durable. As the metal chairs and wooden chairs are stiff, they deform or break quickly. On the contrary, the flexibility of plastic furniture makes it easy for them to resist extreme pressure and damages.
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In addition, presence of plastic pose a threat not only to marine life but also to agricultural land. This is attributed to the fact that plastic is responsible for the dilapidation of the agriculture land and atmosphere, which continuously use precious earth resources, in particular oil. This is now posing threat to environmental and agricultural production. Thus, adverse effects of plastic on marine life and agriculture land is restricting the growth of the plastic furniture market.
The outbreak of the COVID-19 pandemic has created a number of challenges for exporters in developing and developed countries. The challenges witnessed by exporters of plastic furniture products are likely to remain for the foreseeable future, as different states and governments around the world attempt to tackle COVID-19 with various measures.
However, implementation of lockdown and curfew practices globally have affected domestic as well as international production of plastic furniture, which, in turn, hampers growth of the overall market. Thus, the outbreak of COVID-19 has negatively impacted the plastic furniture market in 2020, as sales of companies have reduced and operations have been halted.
Region wise, North America acquired the largest plastic furniture market share in 2019, and is expected to grow at a CAGR of 4.0%.
The key players profiled in the plastic furniture industry report Avro India Limited, Cello Group, Cosmoplast Industrial Company LLC, Keter Group, Nilkamal Limited, Pil Italica Lifestyle Limited, ScanCom International A/S, The Supreme Industries Limited, Tramontina, and Uma Plastics Limited.
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐๐ ๐๐ก๐ ๐๐ญ๐ฎ๐๐ฒ:
โ By type, the kitchen furniture segment dominated the global market in 2019, and is expected to retain its dominance throughout the plastic furniture market forecast period.
โ Depending on end user, the residential segment led in terms of the plastic furniture market value in 2019, and is expected to continue to grow with robust CAGR during the forecast period.
โ On the basis of distribution channel, the modern trade segment dominated the global market in 2019, and is expected to retain its dominance throughout the forecast period.
โ Region wise, North America acquired the largest plastic furniture market share in 2019, and is expected to grow at a CAGR of 4.0%.
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๐๐๐๐ฌ๐จ๐ง๐ฌ ๐ญ๐จ ๐๐ฎ๐ฒ ๐๐ฅ๐๐ฌ๐ญ๐ข๐ ๐ ๐ฎ๐ซ๐ง๐ข๐ญ๐ฎ๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ:
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๐๐๐๐ ๐๐จ๐ซ๐ ๐๐ซ๐๐ง๐๐ข๐ง๐ "๐๐๐ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ:
โ Metal Furniture Market is projected to reach $191,734.0 million by 2028
https://www.alliedmarketresearch.com/metal-furniture-market-A11417
โ Children Furniture Market is projected reach $48.9 billion by 2030
https://www.alliedmarketresearch.com/children-furniture-market-A13711
โ Hospitality Furniture Market Growing Rapidly with Significant CAGR
https://www.alliedmarketresearch.com/hospitality-furniture-market-A06986
โ Bathroom Mirror Cabinets Market Opportunities and Forecast Assessment, 2021-2022
https://www.alliedmarketresearch.com/bathroom-mirror-cabinets-market-A06070
โ New Zealand Bathroom Products Market is projected to reach $772.2 million by 2030
https://www.alliedmarketresearch.com/new-zealand-bathroom-products-market-A16016
โ U.S. Home Furniture and Bedding Market is estimated to reach $183,489.52 million by 2027
https://www.alliedmarketresearch.com/us-home-furniture-and-bedding-market-A10954
โ Organic Beddings Market is projected to reach $539 million by 2031
https://www.alliedmarketresearch.com/organic-beddings-market-A31314
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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