Philippines: Market for Drawn Glass And Blown Glass 2024

Market Size for Drawn Glass And Blown Glass in the Philippines

In 2021, after two years of growth, there was significant decline in the Philippine market for drawn glass and blown glass, when its value decreased by -15.6% to $X. Over the period under review, the total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +61.2% against 2018 indices. As a result, consumption attained the peak level of $X, and then shrank dramatically in the following year.

Production of Drawn Glass And Blown Glass in the Philippines

In value terms, drawn glass and blown glass production reduced rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, posted strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 55%. As a result, production reached the peak level of $X, and then reduced markedly in the following year.

Exports of Drawn Glass And Blown Glass

Exports from the Philippines

In 2021, overseas shipments of drawn glass and blown glass decreased by -41.4% to X square meters for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 13,335% against the previous year. Over the period under review, the exports reached the maximum at X square meters in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, drawn glass and blown glass exports totaled $X in 2021. Over the period under review, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 17,039% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X square meters), Hong Kong SAR (X square meters) and the United States (X square meters) were the main destinations of drawn glass and blown glass exports from the Philippines, together accounting for 96% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +179.1%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Hong Kong SAR ($X) and Japan ($X) constituted the largest markets for drawn glass and blown glass exported from the Philippines worldwide, with a combined 97% share of total exports.

Thailand, with a CAGR of +273.5%, saw the highest growth rate of the value of exports, in terms of 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 drawn glass and blown glass stood at $X per square meter in 2021, surging by 80% against the previous year. Over the period under review, the export price showed a significant expansion. The most prominent rate of growth was recorded in 2019 an increase of 1,174%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per square meter), while the average price for exports to the United States ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+35.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Drawn Glass And Blown Glass

Imports into the Philippines

In 2021, the amount of drawn glass and blown glass imported into the Philippines surged to X square meters, increasing by 85% against the previous year. Overall, imports, however, showed a sharp downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 91%. Imports peaked at X square meters in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, drawn glass and blown glass imports soared to $X in 2021. In general, imports, however, continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2020 with an increase of 90%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X square meters) constituted the largest supplier of drawn glass and blown glass to the Philippines, with a 89% share of total imports. Moreover, drawn glass and blown glass imports from China exceeded the figures recorded by the second-largest supplier, Japan (X square meters), more than tenfold. The third position in this ranking was taken by Singapore (X square meters), with a 2% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+12.9% per year) and Singapore (+19.3% per year).

In value terms, China ($X) constituted the largest supplier of drawn glass and blown glass to the Philippines, comprising 79% of total imports. The second position in the ranking was taken by Singapore ($X), with a 5.2% share of total imports. It was followed by Japan, with a 4% share.

From 2012 to 2021, the average annual growth rate of value from China stood at -10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+10.8% per year) and Japan (+19.0% per year).

Import Prices by Country

In 2021, the average import price for drawn glass and blown glass amounted to $X per square meter, which is down by -26% against the previous year. In general, the import price, however, showed a remarkable increase. The pace of growth was the most pronounced in 2016 an increase of 126%. As a result, import price reached the peak level of $X per square meter. From 2017 to 2021, the average import prices failed to regain momentum.

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 Singapore ($X per square meter), while the price for China ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+121.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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