Philippines: Metal Castor Mounting Market 2025

Metal Castor Mounting Market Size in the Philippines

In 2022, the Philippine metal castor mounting market increased by 11% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, posted prominent growth. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Metal Castor Mounting Exports

Exports from the Philippines

In 2022, overseas shipments of castors with mountings of base metal increased by 2,383% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, metal castor mounting exports surged to $X in 2022. Over the period under review, exports showed a significant expansion. The growth pace was the most rapid in 2019 when exports increased by 607% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Japan (X tons) was the main destination for metal castor mounting exports from the Philippines, accounting for a 90% share of total exports. Moreover, metal castor mounting exports to Japan exceeded the volume sent to the second major destination, Micronesia (X tons), more than tenfold. The third position in this ranking was taken by China (X kg), with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan stood at +211.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Micronesia (-12.9% per year) and China (+46.0% per year).

In value terms, Japan ($X) emerged as the key foreign market for castors with mountings of base metal exports from the Philippines, comprising 77% of total exports. The second position in the ranking was held by China ($X), with a 7.1% share of total exports. It was followed by Micronesia, with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan amounted to +185.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+18.9% per year) and Micronesia (-15.7% per year).

Export Prices by Country

The average metal castor mounting export price stood at $X per ton in 2022, waning by -81.2% against the previous year. In general, the export price recorded a abrupt contraction. The most prominent rate of growth was recorded in 2018 an increase of 623%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 China ($X per ton), while the average price for exports to Micronesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+68.4%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Castor Mounting Imports

Imports into the Philippines

Metal castor mounting imports into the Philippines dropped dramatically to X tons in 2022, falling by -17.8% on the previous year's figure. Over the period under review, imports, however, saw a strong increase. The growth pace was the most rapid in 2017 when imports increased by 42% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, metal castor mounting imports skyrocketed to $X in 2022. Overall, imports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 55%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal castor mounting to the Philippines, accounting for a 82% share of total imports. Moreover, metal castor mounting imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold. Thailand (X tons) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+3.1% per year) and Thailand (+61.3% per year).

In value terms, China ($X) constituted the largest supplier of castors with mountings of base metal to the Philippines, comprising 39% of total imports. The second position in the ranking was taken by Japan ($X), with a 16% share of total imports. It was followed by Singapore, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +15.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+24.0% per year) and Singapore (+53.9% per year).

Import Prices by Country

In 2022, the average metal castor mounting import price amounted to $X per ton, jumping by 54% against the previous year. In general, the import price showed a strong expansion. The most prominent rate of growth was recorded in 2018 when the average import price increased by 66%. The import price peaked in 2022 and is likely to see gradual growth in years to come.

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 Singapore ($X per ton), while the price for China ($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 (+24.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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