The global market for plastic furniture is expected to witness 5.3% y-o-y over 2018, crossing US$ 24 billion by the end of 2019, unveils a recent Fact.MR study. 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.
On assessing macro and microeconomic growth parameters of the plastic furniture market, the Fact.MR study offers actionable insights on the dynamic trends that can influence market players’ strategies in the coming years. 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.
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Molded Polypropylene will Remain the Most Sought-after Option for Plastic Furniture
Polypropylene accounted for nearly 50% revenue share of the plastic furniture market in 2018 and it will continue to witness high-demand in the coming decade, according to the Fact.MR study. Manufacturers identify polypropylene as an important plastic resin used in indoor as well as outdoor plastic upholstery, owing to its superior performance characteristics over other plastic resins used in plastic furniture.
What are the Key Growth Drivers of Plastic Furniture Market?
- The hunt for lightweight and affordable materials in the furniture industry is giving rise to the adoption of plastics in lieu of heavy-weight metals in modern furniture designs. Owing to the high-performance material properties of plastic, the demand for plastic furniture is likely to surge rapidly in the upcoming years.
- Scientists and researchers are exploring potential for improving characteristics of thermoplastics in order to enable plastic furniture manufacturers to reduce manufacturing costs and offer unique designs to leverage the increasing sales potential of plastic furniture.
- Manufacturers in the plastic furniture market are modifying their business strategies to capitalize on the growth of the e-commerce industry as a potential distribution channel, as millennial consumers are highly inclined towards purchasing furniture online.
- With the growing awareness about the negative impacts of plastic pollution on the environment, the adoption of recycled plastic materials is expected to increase in the plastic furniture market.