Philippines: Endless Machinery Band Market 2025

Endless Machinery Band Market Size in the Philippines

In 2021, the Philippine endless machinery band market decreased by -17.9% to $X, falling for the second consecutive year after four years of growth. Over the period under review, consumption, however, continues to indicate a remarkable increase. Endless machinery band consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Endless Machinery Band Production in the Philippines

In value terms, endless machinery band production stood at $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by 3.1% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Endless Machinery Band Exports

Exports from the Philippines

In 2021, overseas shipments of endless bands for machinery, of stainless steel increased by 5% to X square meters, rising for the sixth consecutive year after two years of decline. Over the period under review, exports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 25% against the previous year. As a result, the exports attained the peak of X square meters. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, endless machinery band exports fell remarkably to $X in 2021. In general, exports, however, showed a dramatic downturn. The smallest decline of -15.9% was in 2013. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Mexico (X square meters) was the main destination for endless machinery band exports from the Philippines, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Mexico amounted to -8.8%.

In value terms, Mexico ($X) also remains the key foreign market for endless machinery band exports from the Philippines.

From 2012 to 2021, the average annual rate of growth in terms of value to Mexico totaled -22.0%.

Export Prices by Country

The average endless machinery band export price stood at $X per square meter in 2021, dropping by -20.5% against the previous year. Overall, the export price showed a abrupt decline. The most prominent rate of growth was recorded in 2014 an increase of 34% against the previous year. The export price peaked at $X per square meter in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Mexico.

From 2012 to 2021, the rate of growth in terms of prices for Mexico amounted to -14.5% per year.

Endless Machinery Band Imports

Imports into the Philippines

In 2021, overseas purchases of endless bands for machinery, of stainless steel decreased by -24.3% to X square meters, falling for the second consecutive year after four years of growth. In general, imports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2018 when imports increased by 176%. Imports peaked at X square meters in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, endless machinery band imports contracted significantly to $X in 2021. Overall, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 127%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

The UK (X square meters), China (X square meters) and South Korea (X square meters) were the main suppliers of endless machinery band imports to the Philippines, with a combined 69% share of total imports. Spain, India, Japan and the United States lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +38.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) constituted the largest supplier of endless machinery band to the Philippines, comprising 46% of total imports. The second position in the ranking was held by Spain ($X), with a 9.3% share of total imports. It was followed by Japan, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value from the UK amounted to +30.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+30.0% per year) and Japan (-0.1% per year).

Import Prices by Country

In 2021, the average endless machinery band import price amounted to $X per square meter, increasing by 7% against the previous year. In general, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, endless machinery band import price increased by +39.9% against 2018 indices. The most prominent rate of growth was recorded in 2015 an increase of 68%. As a result, import price attained the peak level of $X per square meter. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per square meter), while the price for China ($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 the UK (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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