Philippines: Market for Cellular Plates, Sheets and Films of Polyymers of Styrene 2024

Market Size for Cellular Plates, Sheets and Films of Polyymers of Styrene in the Philippines

The Philippine market for cellular plates, sheets and films of polyymers of styrene declined significantly to $X in 2022, falling by -67.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, posted resilient growth. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Exports of Cellular Plates, Sheets and Films of Polyymers of Styrene

Exports from the Philippines

For the fourth consecutive year, the Philippines recorded decline in overseas shipments of cellular plates, sheets and films of polyymers of styrene, which decreased by -93% to X tons in 2022. Overall, exports continue to indicate a sharp decline. The pace of growth was the most pronounced in 2018 when exports increased by 10,697%. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of cellular plates, sheets and films of polyymers of styrene fell markedly to $X in 2022. Over the period under review, exports faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 when exports increased by 6,798%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Japan (X tons), Malaysia (X tons) and Palau (X tons) were the main destinations of exports of cellular plates, sheets and films of polyymers of styrene from the Philippines, with a combined 82% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +40.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polystyrene cellular plates, sheets and films exported from the Philippines were Japan ($X), Malaysia ($X) and China ($X), with a combined 70% share of total exports.

In terms of the main countries of destination, China, with a CAGR of +15.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for cellular plates, sheets and films of polyymers of styrene amounted to $X per ton, surging by 72% against the previous year. Overall, the export price recorded a slight expansion. The growth pace was the most rapid in 2015 an increase of 340% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a 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 China ($X per ton), while the average price for exports to Bahrain ($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 China (+18.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Cellular Plates, Sheets and Films of Polyymers of Styrene

Imports into the Philippines

Imports of cellular plates, sheets and films of polyymers of styrene into the Philippines dropped notably to X tons in 2022, with a decrease of -73.9% compared with the previous year's figure. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 165%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of cellular plates, sheets and films of polyymers of styrene contracted remarkably to $X in 2022. Overall, imports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 223% against the previous year. Over the period under review, imports of attained the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of polystyrene cellular plates, sheets and films to the Philippines, with a 59% share of total imports. Moreover, imports of cellular plates, sheets and films of polyymers of styrene from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. Japan (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+5.1% per year) and Japan (+25.3% per year).

In value terms, Japan ($X) constituted the largest supplier of cellular plates, sheets and films of polyymers of styrene to the Philippines, comprising 52% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by South Korea, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan stood at +36.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.9% per year) and South Korea (+6.7% per year).

Import Prices by Country

In 2022, the average import price for cellular plates, sheets and films of polyymers of styrene amounted to $X per ton, rising by 54% against the previous year. In general, the import price continues to indicate resilient growth. The most prominent rate of growth was recorded in 2016 an increase of 147%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+29.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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