Philippines: Market for Articles Of Cellulose Fibre-Cement, Not Containing Asbestos 2024

Market Size for Articles Of Cellulose Fibre-Cement, Not Containing Asbestos in the Philippines

The Philippine market for articles of cellulose fibre-cement, not containing asbestos reduced to $X in 2022, falling by -12.1% against the previous year. Over the period under review, consumption, however, saw significant growth. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Articles Of Cellulose Fibre-Cement, Not Containing Asbestos in the Philippines

In value terms, production of articles of cellulose fibre-cement, not containing asbestos contracted to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 125% against the previous year. Production of peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Articles Of Cellulose Fibre-Cement, Not Containing Asbestos

Exports from the Philippines

In 2022, shipments abroad of articles of cellulose fibre-cement, not containing asbestos decreased by -28.2% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, exports, however, showed a significant increase. The growth pace was the most rapid in 2018 with an increase of 1,317%. Over the period under review, the exports of hit record highs at X tons in 2021, and then dropped remarkably in the following year.

In value terms, exports of articles of cellulose fibre-cement, not containing asbestos fell dramatically to $X in 2022. In general, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 1,283% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2021, and then declined dramatically in the following year.

Exports by Country

The United States (X tons) was the main destination for exports of articles of cellulose fibre-cement, not containing asbestos from the Philippines, with a 94% share of total exports. Moreover, exports of articles of cellulose fibre-cement, not containing asbestos to the United States exceeded the volume sent to the second major destination, Canada (X tons), more than tenfold.

From 2017 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +362.3%.

In value terms, the United States ($X) emerged as the key foreign market for articles of cellulose fibre-cement, not containing asbestos exports from the Philippines, comprising 82% of total exports. The second position in the ranking was held by Canada ($X), with an 18% share of total exports.

From 2017 to 2022, the average annual rate of growth in terms of value to the United States stood at +267.6%.

Export Prices by Country

The average export price for articles of cellulose fibre-cement, not containing asbestos stood at $X per ton in 2022, which is down by -11.4% against the previous year. In general, the export price faced a abrupt setback. The most prominent rate of growth was recorded in 2021 when the average export price increased by 16%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the United States totaled $X per ton.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-20.5%), while the prices for the other major destinations experienced a decline.

Imports of Articles Of Cellulose Fibre-Cement, Not Containing Asbestos

Imports into the Philippines

In 2022, purchases abroad of articles of cellulose fibre-cement, not containing asbestos decreased by -82.6% to X tons, falling for the fourth year in a row after five years of growth. Overall, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 194% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of articles of cellulose fibre-cement, not containing asbestos shrank significantly to $X in 2022. In general, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 138%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest articles of cellulose fibre-cement, not containing asbestos supplier to the Philippines, with a 73% share of total imports. Moreover, imports of articles of cellulose fibre-cement, not containing asbestos from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fourfold. The third position in this ranking was taken by Japan (X kg), with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -44.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+1,514.4% per year) and Japan (-95.9% per year).

In value terms, the largest articles of cellulose fibre-cement, not containing asbestos suppliers to the Philippines were the United States ($X), China ($X) and Japan ($X), together accounting for 90% of total imports. South Korea, Thailand and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 9.2%.

South Korea, with a CAGR of +171.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average import price for articles of cellulose fibre-cement, not containing asbestos stood at $X per ton in 2022, jumping by 198% against the previous year. In general, the import price posted a resilient increase. The pace of growth appeared the most rapid in 2021 an increase of 207% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1,256.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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