Luxury Furniture Market Trends, Share, Revenue, Scope, Challenges, Key Manufacturers, Future Investment and Growth Opportunities Till 2033


Luxury Furniture Market Trends, Share, Revenue, Scope, Challenges, Key Manufacturers, Future Investment and Growth Opportunities Till 2033: SPER Market Research

 Category : Consumer & Retail

 Published: Nov-2023
 Author: SPER Analyst

Plastic Furniture Market is projected to be worth USD 27.11 billion by 2033 and is anticipated to surge at a CAGR of 6.04%.

Plastic furniture is more efficient and less expensive than other materials. Furthermore, because plastic furniture is available in a wide range of shapes, colors, and styles, it is simple to complement the decor of a house, restaurant, hotel, or office. Plastic furniture is not only beautifully crafted and brightly coloured, but it is also extremely durable. Metal and wooden chairs are rigid, and as a result, they readily distort or burst. Plastic furniture, on the other hand, is flexible and can withstand great pressure and damage.

Global Plastic Furniture Market Driving Factors and Challenges

Drivers: The demand for premium and opulent furniture among consumers, as well as factors such as increasing disposable income, housing real estate demand, and rapid urbanization, have all fueled the growth of the global plastic furniture industry. South Africa, Brazil, India, China, and other countries have all seen tremendous growth in the real estate and hotel sectors. Corporate investment in the hotel and real estate industries is growing, which is driving the expansion of the market. Furthermore, high-quality plastic furniture is becoming more and more popular for usage in both homes and businesses due to its timeless durability, appealing design, and water resistance.

Challenges: One of the most significant barriers to market expansion is a lack of quality and elegance, such as wood and metal. Plastic furniture might limit consumer preferences in terms of form and aesthetic, but not color, because many manufacturers use the same PVC molding. As a result, in the luxury furniture industry, this sort of furniture is less common. Furthermore, because plastic is a non-biodegradable product with negative environmental effects, market development is expected to be limited. Plastic furniture is one of the difficulties restricting market growth because it is weaker than other forms of furniture.

Impact of COVID-19 on Global Plastic Furniture Market
The global coronavirus epidemic has created a number of challenges for exporters from both poor and industrialized countries. The difficulties experienced by plastic furniture exporters are projected to endure for the foreseeable future, as numerous states and governments throughout the world work to counteract COVID-19 using a variety of strategies. Following the outbreak of the COVID-19 virus, manufacturers increased their social media promotion of plastic furniture in order to reach a large consumer base. Curfews and the global practice of maintaining social distance have an impact on home and international output, impeding total market growth.

Plastic Furniture Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; The Supreme Industries Limited, Nilkamal Limited, Keter Group, ScanCom International A/S, Tramontina, Pil Italica Lifestyle Limited, Uma Plastics Limited., Avro India Limited, Cello Group, Cosmoplast Industrial Company L.L.C.

Global Plastic Furniture Market Segmentation:

By Type: Based on the Type, Global Plastic Furniture Market is segmented as; Kitchen Furniture, Living and Dining Room Furniture, Bathroom Furniture, Outdoor Furniture.

By End User: Based on the End User, Global Plastic Furniture Market is segmented as; Residential, Commercial.

By Distribution Channel: Based on the Distribution Channel, Global Plastic Furniture Market is segmented as; Modern Trade, Specialty Stores, E-commerce, Direct-to-customers.

By Region: This report also provides the data for key regional segments of North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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