Philippines: Market for Equipment For Scaffolding, Shuttering, Propping Or Pit Propping 2024

Market Size for Equipment For Scaffolding, Shuttering, Propping Or Pit Propping in the Philippines

The Philippine market for equipment for scaffolding, shuttering, propping or pit propping surged to $X in 2021, rising by 96% 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). Over the period under review, consumption enjoyed a buoyant increase. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Equipment For Scaffolding, Shuttering, Propping Or Pit Propping

Exports from the Philippines

In 2021, shipments abroad of equipment for scaffolding, shuttering, propping or pit propping decreased by -59.2% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 384% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020, and then contracted rapidly in the following year.

In value terms, scaffolding, shuttering, and propping equipment exports declined dramatically to $X in 2021. Overall, exports, however, saw significant growth. The pace of growth was the most pronounced in 2018 when exports increased by 524%. Over the period under review, the exports attained the peak figure at $X in 2020, and then plummeted in the following year.

Exports by Country

Japan (X tons) was the main destination for scaffolding, shuttering, and propping equipment exports from the Philippines, with a 58% share of total exports. Moreover, scaffolding, shuttering, and propping equipment exports to Japan exceeded the volume sent to the second major destination, India (X tons), sixfold. Malaysia (X tons) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume to Japan stood at +147.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+93.5% per year) and Malaysia (+84.6% per year).

In value terms, Japan ($X) remains the key foreign market for equipment for scaffolding, shuttering, propping or pit propping exports from the Philippines, comprising 58% of total exports. The second position in the ranking was taken by India ($X), with a 10% share of total exports. It was followed by Malaysia, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan stood at +161.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+108.5% per year) and Malaysia (+97.9% per year).

Export Prices by Country

In 2021, the average export price for equipment for scaffolding, shuttering, propping or pit propping amounted to $X per ton, surging by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2018 an increase of 29% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see steady growth in years to come.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to India ($X per ton) and Thailand ($X per ton), while the average price for exports to Guam ($X per ton) and Australia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Equipment For Scaffolding, Shuttering, Propping Or Pit Propping

Imports into the Philippines

For the third consecutive year, the Philippines recorded decline in overseas purchases of equipment for scaffolding, shuttering, propping or pit propping, which decreased by -11.7% to X tons in 2021. Overall, imports, however, enjoyed a notable increase. The most prominent rate of growth was recorded in 2015 when imports increased by 114%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, scaffolding, shuttering, and propping equipment imports rose remarkably to $X in 2021. In general, imports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2015 when imports increased by 171%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest scaffolding, shuttering, and propping equipment supplier to the Philippines, with a 48% share of total imports. Moreover, scaffolding, shuttering, and propping equipment imports from China exceeded the figures recorded by the second-largest supplier, Switzerland (X tons), fourfold. The third position in this ranking was taken by South Korea (X tons), with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+98.0% per year) and South Korea (-5.5% per year).

In value terms, China ($X) constituted the largest supplier of equipment for scaffolding, shuttering, propping or pit propping to the Philippines, comprising 49% of total imports. The second position in the ranking was taken by Switzerland ($X), with a 13% share of total imports. It was followed by South Korea, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +22.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+55.9% per year) and South Korea (-4.4% per year).

Import Prices by Country

In 2021, the average import price for equipment for scaffolding, shuttering, propping or pit propping amounted to $X per ton, surging by 20% against the previous year. Overall, the import price recorded a resilient expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by 42%. The import price peaked in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Thailand ($X per ton) and Japan ($X per ton), while the price for the United Arab Emirates ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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