Philippines: Market for Articles Of Asbestos-Cement, Of Cellulose Fibre-Cement 2024

Market Size for Articles Of Asbestos-Cement, Of Cellulose Fibre-Cement in the Philippines

The Philippine market for articles of asbestos-cement, of cellulose fibre-cement shrank to $X in 2021, reducing by -2.6% against the previous year. Over the period under review, consumption, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2020 when the market value increased by 5.4% against the previous year. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Articles Of Asbestos-Cement, Of Cellulose Fibre-Cement in the Philippines

In value terms, production of articles of asbestos-cement, of cellulose fibre-cement shrank to $X in 2021 estimated in export price. Overall, production, however, showed a deep setback. The most prominent rate of growth was recorded in 2020 when the production volume increased by 14%. Production of peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Articles Of Asbestos-Cement, Of Cellulose Fibre-Cement

Exports from the Philippines

In 2021, exports of articles of asbestos-cement, of cellulose fibre-cement from the Philippines dropped notably to X tons, with a decrease of -73.1% against the year before. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 389% against the previous year. Over the period under review, the exports of reached the maximum at X tons in 2020, and then dropped remarkably in the following year.

In value terms, exports of articles of asbestos-cement, of cellulose fibre-cement shrank significantly to $X in 2021. In general, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 403% against the previous year. As a result, the exports attained the peak of $X, and then fell notably in the following year.

Exports by Country

Papua New Guinea (X tons), Micronesia (X tons) and Sierra Leone (X tons) were the main destinations of exports of articles of asbestos-cement, of cellulose fibre-cement from the Philippines, together accounting for 100% of total exports.

From 2012 to 2021, the biggest increases were recorded for Papua New Guinea (with a CAGR of +98.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Sierra Leone ($X) emerged as the key foreign market for articles of asbestos-cement, of cellulose fibre-cement exports from the Philippines, comprising 79% of total exports. The second position in the ranking was held by Papua New Guinea ($X), with a 16% share of total exports. It was followed by Micronesia, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value to Sierra Leone was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (+90.2% per year) and Micronesia (+2.8% per year).

Export Prices by Country

The average export price for articles of asbestos-cement, of cellulose fibre-cement stood at $X per ton in 2021, rising by 64% against the previous year. Over the period under review, the export price showed a buoyant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while the average price for exports to Micronesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+13.8%), while the prices for the other major destinations experienced a decline.

Imports of Articles Of Asbestos-Cement, Of Cellulose Fibre-Cement

Imports into the Philippines

In 2021, purchases abroad of articles of asbestos-cement, of cellulose fibre-cement was finally on the rise to reach X tons after two years of decline. In general, imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of 112%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of articles of asbestos-cement, of cellulose fibre-cement rose remarkably to $X in 2021. The total import value increased at an average annual rate of +6.9% from 2017 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 42% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Thailand (X tons) constituted the largest supplier of articles of asbestos-cement, of cellulose fibre-cement to the Philippines, accounting for a 69% share of total imports. Moreover, imports of articles of asbestos-cement, of cellulose fibre-cement from Thailand exceeded the figures recorded by the second-largest supplier, Belgium (X tons), sevenfold. China (X tons) ranked third in terms of total imports with a 7.3% share.

From 2017 to 2021, the average annual growth rate of volume from Thailand totaled +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (0.0% per year) and China (-28.6% per year).

In value terms, Thailand ($X) constituted the largest supplier of articles of asbestos-cement, of cellulose fibre-cement to the Philippines, comprising 87% of total imports. The second position in the ranking was held by Vietnam ($X), with a 7.8% share of total imports. It was followed by Japan, with a 2% share.

From 2017 to 2021, the average annual growth rate of value from Thailand totaled +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+52.6% per year) and Japan (-15.7% per year).

Import Prices by Country

In 2021, the average import price for articles of asbestos-cement, of cellulose fibre-cement amounted to $X per ton, reducing by -7.5% against the previous year. Over the period under review, import price indicated a slight increase from 2017 to 2021: its price increased at an average annual rate of +1.4% over the last four years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for articles of asbestos-cement, of cellulose fibre-cement increased by +56.9% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 55%. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2017 to 2021, the most notable rate of growth in terms of prices was attained by China (+20.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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