Philippines: Market for Button Blanks & Button Moulds 2024

Market Size for Button Blanks & Button Moulds in the Philippines

For the fifth consecutive year, the Philippine button blanks and moulds market recorded growth in sales value, which increased by 254% to $X in 2022. In general, consumption saw a significant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Button Blanks & Button Moulds in the Philippines

In value terms, button blanks and moulds production stood at $X in 2022 estimated in export price. In general, production, however, posted a resilient increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 100%. Over the period under review, production attained the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Exports of Button Blanks & Button Moulds

Exports from the Philippines

After two years of growth, shipments abroad of button blanks & button moulds decreased by -91% to X kg in 2022. In general, exports continue to indicate a significant decrease. The growth pace was the most rapid in 2020 when exports increased by 13,006% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, button blanks and moulds exports contracted significantly to $X in 2022. Overall, exports saw a sharp descent. The pace of growth was the most pronounced in 2020 with an increase of 26,163%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X kg) and China (X kg) were the main destinations of button blanks and moulds exports from the Philippines.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +41.3%).

In value terms, Japan ($X) remains the key foreign market for button blanks & button moulds exports from the Philippines, comprising 79% of total exports. The second position in the ranking was taken by China ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan amounted to -30.4%.

Export Prices by Country

In 2022, the average button blanks and moulds export price amounted to $X per ton, increasing by 10% against the previous year. In general, the export price, however, continues to indicate a deep downturn. The growth pace was the most rapid in 2015 when the average export price increased by 114%. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+70.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Button Blanks & Button Moulds

Imports into the Philippines

In 2022, purchases abroad of button blanks & button moulds increased by 756% to X tons, rising for the third year in a row after three years of decline. In general, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, button blanks and moulds imports soared to $X in 2022. Overall, imports posted significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of button blanks and moulds to the Philippines, accounting for a 85% share of total imports. Moreover, button blanks and moulds imports from China exceeded the figures recorded by the second-largest supplier, Bangladesh (X tons), more than tenfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +75.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Bangladesh (0.0% per year) and Taiwan (Chinese) (+10.4% per year).

In value terms, China ($X) constituted the largest supplier of button blanks & button moulds to the Philippines, comprising 64% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 4.5% share of total imports. It was followed by Bangladesh, with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +73.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+17.5% per year) and Bangladesh (0.0% per year).

Import Prices by Country

The average button blanks and moulds import price stood at $X per ton in 2022, waning by -54.4% against the previous year. Overall, the import price, however, posted a modest expansion. The most prominent rate of growth was recorded in 2016 an increase of 126%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+25.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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