Philippines: Market for Wood Boxes, Crates and Cable Drums 2024

Market Size for Wood Boxes, Crates and Cable Drums in the Philippines

The Philippine market for wood boxes, crates and cable drums reduced to $X in 2022, declining by -4.6% against the previous year. Overall, consumption, however, enjoyed a resilient increase. Wood box and cable drum consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Wood Boxes, Crates and Cable Drums in the Philippines

In value terms, wood box and cable drum production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate prominent growth. The growth pace was the most rapid in 2014 when the production volume increased by 40% against the previous year. Wood box and cable drum production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Wood Boxes, Crates and Cable Drums

Exports from the Philippines

In 2022, approx. X units of wood boxes, crates and cable drums were exported from the Philippines; falling by -81.9% against the year before. Over the period under review, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 3,594% against the previous year. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, wood box and cable drum exports dropped significantly to $X in 2022. In general, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 10,905%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X units) was the main destination for wood box and cable drum exports from the Philippines, accounting for a 86% share of total exports. Moreover, wood box and cable drum exports to Japan exceeded the volume sent to the second major destination, Mexico (X units), more than tenfold. The third position in this ranking was taken by Switzerland (X units), with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan stood at +25.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+260.0% per year) and Switzerland (+115.0% per year).

In value terms, Japan ($X), Switzerland ($X) and Mexico ($X) were the largest markets for wood box and cable drum exported from the Philippines worldwide, together accounting for 93% of total exports.

Mexico, with a CAGR of +194.0%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for wood boxes, crates and cable drums stood at $X per unit in 2022, surging by 85% against the previous year. Over the period under review, the export price recorded a strong expansion. The pace of growth was the most pronounced in 2013 when the average export price increased by 222% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+0.6%), while the prices for the other major destinations experienced a decline.

Imports of Wood Boxes, Crates and Cable Drums

Imports into the Philippines

In 2022, approx. X units of wood boxes, crates and cable drums were imported into the Philippines; waning by -15.7% against the previous year. In general, imports, however, posted significant growth. The growth pace was the most rapid in 2013 when imports increased by 409%. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, wood box and cable drum imports reduced sharply to $X in 2022. Overall, imports, however, saw strong growth. The growth pace was the most rapid in 2013 when imports increased by 172%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Japan (X units) constituted the largest wood box and cable drum supplier to the Philippines, accounting for a 78% share of total imports. Moreover, wood box and cable drum imports from Japan exceeded the figures recorded by the second-largest supplier, Malaysia (X units), more than tenfold. China (X units) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan stood at +36.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+74.4% per year) and China (+2.4% per year).

In value terms, Japan ($X), Thailand ($X) and Malaysia ($X) were the largest wood box and cable drum suppliers to the Philippines, with a combined 74% share of total imports. China, New Zealand, Austria and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 14%.

Among the main suppliers, New Zealand, with a CAGR of +297.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for wood boxes, crates and cable drums amounted to $X per unit, dropping by -9.2% against the previous year. Over the period under review, the import price recorded a perceptible reduction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 55% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Thailand ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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