The practical significance of analyzing the plastic chair market in 2024 is to help businesses in the plastic chair industry get an overview of the market, from which to devise strategies. suitable business.

Specifically, analyzing the plastic chair market in 2024 can help businesses:

  • Understand the scale and development trends of the plastic chair market.
  • Identify potential market segments.
  • Assess the competitiveness of competitors.
  • Identify the factors affecting the plastic chair market.

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Based on the information obtained from market analysis, businesses can come up with appropriate business strategies, such as:

  • Orientation of production and business in accordance with market needs.
  • Build an effective marketing strategy to attract customers.
  • Looking for strategic partners to expand the market.

For example, based on analysis of the plastic chair market in 2024, businesses can see that the family plastic chair segment is experiencing high growth demand. Therefore, businesses can focus on producing and trading all kinds of family plastic chair with modern design, convenient and reasonable price.

In addition, analysis of the plastic chair market in 2024 also helps businesses realize that the trend of using environmentally friendly plastic chairs is increasingly popular. Therefore, businesses can research and develop plastic chairs made from recycled, environmentally friendly materials.

In general, analyzing the plastic chair market in 2024 is an important job for businesses in the plastic chair industry. Market analysis will help businesses get an overview of the market, thereby devising appropriate business strategies, bringing high business efficiency.

I. Plastic chair market situation in 2024

1. The development of the plastic chair industry

Production and consumption growth

Vietnam’s plastic chair market is showing a steady growth trend in recent years. According to the Vietnam Plastic Association, the output of domestically produced plastic chairs in 2023 will reach about 10 million products, an increase of 7% compared to 2022. Correspondingly, the total production value of plastic chairs reaches about 5,000 billion VND, an increase of 8% compared to 2022.

Growth in plastic chair production is driven by a number of factors, including:

  • Economic growth and people’s income lead to increased consumer demand for household furniture products, including plastic chairs.
  • The development of the service industry, tourism, restaurants, hotels,… also contributes to increasing the demand for plastic chairs.
  • Vietnam’s plastic industry is growing strongly, providing abundant raw materials and competitive prices for plastic chair manufacturing businesses.

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Large enterprises play a key role

Large enterprises in the Vietnamese plastic industry, such as Harmoor Plastic, Santang Plastic,… is playing a leading role in the plastic chair market. These enterprises have large production scale, extensive distribution system, and high competitiveness.

Large businesses in the plastic chair industry are focusing on investing in research and development of new plastic chair products to meet the increasingly diverse needs of consumers. In addition, businesses are also promoting the export of plastic chairs to foreign markets.

2. Factors affecting the market

Raw material price fluctuations

Plastic raw material prices, especially primary plastics, have tended to fluctuate strongly in recent years. This has had a significant impact on the production cost and selling price of plastic chairs.

To minimize the impact of raw material price fluctuations, plastic chair manufacturing businesses need to proactively seek stable raw material sources at competitive prices. Besides, businesses also need to improve production efficiency and reduce costs.

See more: Summary of types plastic used in the plastic furniture manufacturing industry?

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Challenges from supply and competition

Vietnam’s plastic industry is facing a number of challenges from supply and competition, specifically:

  • Domestic sources of plastic raw materials still depend heavily on imports, especially primary plastic. This makes it difficult for domestic plastic chair manufacturers to ensure a stable supply and reasonable prices.
  • Competition in the plastic chair market is increasingly fierce. Small businesses, new businesses entering the market, as well as foreign businesses, are increasingly increasing their competitiveness.
  • To overcome these challenges, plastic chair manufacturing businesses need to proactively seek stable raw material sources at competitive prices. Besides, businesses also need to improve the quality of products and services to meet the increasing needs of consumers.

Impact of environmental issues

Environmental problems, such as environmental pollution due to plastic waste, are becoming increasingly serious. This is negatively impacting the plastic chair market, especially plastic chair products using recycled plastic materials.

To minimize the impact of environmental problems, plastic chair manufacturing businesses need to use environmentally friendly plastic materials. Besides, businesses also need solutions to handle plastic waste, contributing to environmental protection.

In general, the plastic chair market in Vietnam in general and the world in particular is showing a stable growth trend. However, the market is also facing a number of challenges, such as raw material price fluctuations, increased competition, and environmental issues. To overcome these challenges, plastic chair manufacturing businesses need to proactively find suitable solutions.

II. SWOT analysis of plastic chairs market

1. Strengths

Modern production technology

Plastic chair production technology in Vietnam is increasingly modern, meeting the need for mass production of high quality products. Plastic chair manufacturing businesses have applied advanced technologies, such as injection molding technology, molding technology,… to produce plastic chair products with modern, sophisticated designs, meeting today’s needs. The higher the consumer’s level.

Diversity in product applications

Plastic chairs can be used in many different applications, from homes, restaurants, hotels, to public areas, such as parks, schools, hospitals,… This helps the market Plastic chairs have a lot of development potential.

2. Weaknesses

Highly dependent on petroleum raw materials

The main raw material for producing plastic chairs is plastic, in which primary plastic is produced from petroleum. This makes the plastic chair market highly dependent on the supply of petroleum raw materials. When oil prices fluctuate, the price of plastic materials will also fluctuate, affecting the production cost and selling price of plastic chairs.

Negative industrial image of the environment

Plastic chairs are made from plastic, a material that can pollute the environment if not handled properly. This is negatively affecting the image of the plastic chair industry, causing consumers to increasingly choose environmentally friendly products.

3. Opportunities

High demand from other industries

In addition to the need to use plastic chairs in households, restaurants, hotels,… the need to use plastic chairs from other industries, such as transportation industry, construction industry,… is also growing. higher. This opens up opportunities for plastic chair manufacturing businesses to expand their markets, increase revenue and profits.

Developing environmentally friendly products

The trend of using environmentally friendly products is increasingly popular around the world. This creates opportunities for plastic chair manufacturing businesses to develop environmentally friendly plastic chair products to meet the increasing needs of consumers.

4. Risks

Pressure from the government to manage and reduce waste

Governments around the world are increasingly increasing pressure on businesses that produce plastic chairs to reduce the amount of plastic waste. This may negatively impact the plastic chair market, especially plastic chair products using virgin plastic materials.

Competition from renewable energy sources

More and more renewable energy sources, such as solar energy, wind energy,… are being used to produce environmentally friendly plastic products. This may create new competition for plastic chair manufacturing businesses.

In summary, the Vietnamese plastic chair market is showing a stable growth trend. However, the market is also facing some challenges, such as volatilityRaw material price fluctuations, increased competition, and environmental issues. To overcome these challenges, plastic chair manufacturing businesses need to proactively seek suitable solutions, such as:

Looking for a stable source of plastic raw materials at competitive prices.

  • Improve the quality of products and services, meeting the increasing needs of consumers.
  • Developing environmentally friendly plastic chair products.

III. Consumer trends and new applications

1. Changes in consumer tastes

Consumer tastes for plastic chair products are changing significantly, specifically:

Prioritize high quality, durable products

Consumers are increasingly inclined to choose high quality plastic chair products , durable, meets the needs of long-term use. This requires plastic chair manufacturing businesses to improve product quality, use high-quality plastic materials, and apply advanced production technologies.

Enjoy products with unique and creative designs

Consumers are increasingly interested in products with unique, creative designs that express their personality and style. This creates opportunities for plastic chair manufacturing businesses to develop plastic chair products with new and eye-catching designs.

The need to use environmentally friendly products

The trend of using environmentally friendly products is increasingly popular around the world. This creates opportunities for plastic chair manufacturing businesses to develop environmentally friendly plastic chair products, using recycled plastic materials or other environmentally friendly plastic materials.

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2. New application of plastic chair products

In addition to traditional applications, plastic chairs are also applied in a number of new fields, specifically:

In the medical industry

Plastic chairs are used in many applications in the medical industry, such as:

  • Patient chair: Patient chair is used in hospitals and clinics to support patient movement. Patient chairs need to have a sturdy, convenient design that can be easily folded for moving.
  • Dental chaira: Dental chairs are used in dental offices to assist in dental treatment. Dental chairs need to have a design suitable for dental operations, ensuring patient safety.
  • Surgical chair: Surgical chairs are used in operating rooms to support doctors and nurses during surgery. Surgical chairs need to have a sturdy, safe design, ensuring precise surgical operations.

In the packaging and shipping industry

Plastic chairs are used in a number of applications in the packaging and shipping industry, such as:

  • Packaging chairs: Packing chairs are used in warehouses and factories to support the packaging of goods. Packaging chairs need to have a sturdy, convenient design, helping workers save energy and time.
  • Transportation chairs: Transport chairs are used to transport goods and materials. Transport chairs need to have a sturdy design, withstand large loads, ensuring safety for goods and carriers.

These new applications open up opportunities for plastic chair manufacturing businesses to expand their markets, increase revenue and profits.

IV. Market access strategy

1. Market segmentation and customer segments

To be able to reach the market effectively, plastic chair manufacturing businesses need to segment the market and identify target customers. Market segmentation can be based on criteria such as:

  • Geography: Segmentation by geographical area, such as segmentation by province, economic region,…
  • Demographic characteristics: Segmentation by age, gender, income, occupation,…
  • Psychological characteristics: Segmentation by lifestyle, interests, opinions,…
  • Behavioral characteristics: Segmentation by frequency of use, loyalty level,…

After market segmentation, businesses need to identify target customers, who have the needs and ability to pay for the business’s plastic chair products.

Target customers may include:

  • Family segment: This is the largest customer segment, including households that use plastic chairs in homes, restaurants, eateries,…
  • Business segment: This is the customer segment that uses gplastic chairs in offices, factories,…
  • Other industries segment: This is the segment of customers who use plastic chairs in other industries, such as transportation industry, construction industry,… Identifying target customers helps businesses focus resources to reach and meet the needs of this customer group.

2. New approach strategy and product improvement

To effectively access the market, plastic chair manufacturing businesses need to develop new access strategies, consistent with consumer trends and new applications of plastic chair products. Some new outreach strategies can be applied, such as:

  • Focus on online distribution channels: Online distribution channels, such as e-commerce, social networks,… are becoming increasingly popular, bringing Many opportunities for businesses to reach potential customers.
  • Developing environmentally friendly plastic chair products: The trend of using environmentally friendly products is increasingly popular, creating opportunities for manufacturing businesses plastic chair develops environmentally friendly plastic chair products.
  • Increase cooperation with strategic partners: Cooperate with strategic partners, such as distributors, retailers,… to help businesses can expand the market, increase revenue and profits.

In addition, businesses that produce plastic chairs also need to focus on improving the quality of products and services to meet the increasing needs of consumers. Some elements need to be improved, such as:

  • Material quality: Using high quality, durable, environmentally friendly plastic materials.
  • Design: Unique, creative product design, consistent with consumer trends.
  • Price: Product prices are competitive, consistent with consumers’ ability to pay.

3. Develop relationships with partners and customers

Building and developing good relationships with partners and customers is an important factor to help plastic chair manufacturing businesses maintain and develop the market. Businesses need to build relationships based on trust, cooperation and mutual support. Several methods can be applied to develop relationships with partners and customers, such as:

  • Provide high quality products and services, meeting the needs of partners and customers.
  • Regular contact with partners and customers to listen to their opinions and feedback.
  • Organize promotions and incentives for partners and customers.

In short, in order to effectively access the market, plastic chair manufacturing businesses need to develop an access strategy consistent with consumer trends and new applications of plastic chair products. Businesses also need to focus on improving the quality of products and services and developing good relationships with partners and customers.

V. Predictions about the future of the plastic chair market

1. Expected trend

The plastic chair market is expected to continue to grow in the coming years, with an average growth rate of about 5% – 7%. Some trends expected to impact the plastic chair market in the future include:

The trend of using environmentally friendly products: The trend of using environmentally friendly products is increasingly popular around the world. This creates opportunities for plastic chair manufacturing businesses to develop environmentally friendly plastic chair products, using recycled plastic materials or other environmentally friendly plastic materials.

Development trends of new industries: In addition to traditional applications, plastic chairs are also applied in a number of new fields, such as the medical industry, packaging industry and transportation,… The development of these new industries will create new demand for plastic chair products.

Changing trends in consumer tastes: Consumer tastes for plastic chair products are experiencing significant changes, specifically:

  • Consumers increasingly tend to choose high quality, durable products.
  • Consumers are increasingly interested in products with unique and creative designs.
  • Consumers are increasingly interested in environmentally friendly products.

2. Future opportunities and challenges

The plastic chair market has many opportunities for development, but also faces some challenges.

Opportunity

  • Economic growth and people’s income: Economic growth and people’s income will lead to the need to use household furniture products, including chairs plastic, overtimeo
  • The trend of using environmentally friendly products: The trend of using environmentally friendly products is increasingly popular around the world, creating opportunities for Plastic chair manufacturing enterprise develops environmentally friendly plastic chair products.
  • Development of new industries: The development of new industries will create new demand for plastic chair products.

Challenge

  • Raw material price fluctuations: Plastic raw material prices, especially primary plastics, tend to fluctuate strongly. This can affect the production cost and selling price of plastic chairs.
  • Increased competition: Competition in the plastic chair market is increasingly fierce. Plastic chair manufacturing businesses need to have appropriate business strategies to compete effectively.
  • Environmental issues: Environmental issues, such as environmental pollution caused by plastic waste, are becoming increasingly serious. This may negatively impact the image of the plastic chair industry.

To take advantage of opportunities and overcome challenges, plastic chair manufacturing businesses need to have appropriate business strategies, including:

  • Developing environmentally friendly plastic chair products.
  • Increase research and development of new products to meet the increasing needs of consumers.
  • Promote export activities to expand markets.

The plastic chair market is expected to continue to grow in the coming years, with an average growth rate of about 5% – 7%. Plastic chair manufacturing businesses need to grasp market trends and have appropriate business strategies to take advantage of opportunities and overcome challenges for sustainable development.

VI. Evaluation of the prospects of the plastic chair market in 2024?

Based on the above analysis, the outlook for the plastic chair market in 2024 is positive. The market is expected to continue to grow, with an average growth rate of about 5% – 7%. Some key factors driving market growth include:

  • Economic growth and people’s income: Economic growth and people’s income will lead to the need to use household furniture products, including chairs plastic, high rise.
  • The trend of using environmentally friendly products: The trend of using environmentally friendly products is increasingly popular around the world, creating opportunities for Plastic chair manufacturing enterprise develops environmentally friendly plastic chair products.
  • Development of new industries: The development of new industries will create new demand for plastic chair products.

However, the plastic chair market also faces some challenges, such as:

  • Raw material price fluctuations: Plastic raw material prices, especially primary plastics, tend to fluctuate strongly. This can affect the production cost and selling price of plastic chairs.
  • Increased competition: Competition in the plastic chair market is increasingly fierce. Plastic chair manufacturing businesses need to have appropriate business strategies to compete effectively.
  • Environmental issues: Environmental issues, such as environmental pollution caused by plastic waste, are becoming increasingly serious. This may negatively impact the image of the plastic chair industry.

To take advantage of opportunities and overcome challenges, plastic chair manufacturing businesses need to have appropriate business strategies, including:

  • Developing environmentally friendly plastic chair products.
  • Increase research and development of new products to meet the increasing needs of consumers.
  • Promote export activities to expand markets.

Some plastic chair manufacturing businesses that can achieve success in 2024 are businesses with:

  • Business strategy consistent with market trends.
  • Good product and service quality, meeting consumer needs.
  • Wide distribution system, meeting customer needs.
  • Effective marketing activities, attracting customers.