Philippines: Market for Extruded Solid Rubber Rods And Profiles 2025

Market Size for Extruded Solid Rubber Rods And Profiles in the Philippines

The Philippine extruded solid rubber rod market shrank slightly to $X in 2022, approximately mirroring 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, recorded a mild slump. Extruded solid rubber rod consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Exports of Extruded Solid Rubber Rods And Profiles

Exports from the Philippines

In 2022, overseas shipments of extruded solid rubber rods and profiles decreased by -6.3% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, showed a significant increase. The growth pace was the most rapid in 2013 with an increase of 7,065% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, extruded solid rubber rod exports dropped to $X in 2022. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 7,394%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for extruded solid rubber rod exports from the Philippines, with a 70% share of total exports. Moreover, extruded solid rubber rod exports to Japan exceeded the volume sent to the second major destination, Indonesia (X tons), sixfold. The third position in this ranking was held by Mexico (X tons), with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan stood at +58.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+39.8% per year) and Mexico (-13.8% per year).

In value terms, Japan ($X) remains the key foreign market for extruded solid rubber rods and profiles exports from the Philippines, comprising 60% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 12% share of total exports. It was followed by Mexico, with a 9% share.

From 2012 to 2022, the average annual growth rate of value to Japan amounted to +52.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+1,519.1% per year) and Mexico (-13.3% per year).

Export Prices by Country

In 2022, the average extruded solid rubber rod export price amounted to $X per ton, with a decrease of -4% against the previous year. Overall, the export price continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 20% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Turkey ($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 Vietnam (+29.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Extruded Solid Rubber Rods And Profiles

Imports into the Philippines

In 2022, supplies from abroad of extruded solid rubber rods and profiles increased by 0.8% to X tons, rising for the second consecutive year after three years of decline. In general, imports enjoyed a noticeable expansion. The growth pace was the most rapid in 2015 with an increase of 92% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, extruded solid rubber rod imports shrank to $X in 2022. Overall, imports posted buoyant growth. The most prominent rate of growth was recorded in 2016 when imports increased by 85%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of extruded solid rubber rod to the Philippines, with a 72% share of total imports. Moreover, extruded solid rubber rod imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. The third position in this ranking was held by Japan (X tons), with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +10.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+50.1% per year) and Japan (+59.9% per year).

In value terms, the largest extruded solid rubber rod suppliers to the Philippines were Japan ($X), China ($X) and South Korea ($X), with a combined 77% share of total imports.

In terms of the main suppliers, Japan, with a CAGR of +64.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average extruded solid rubber rod import price amounted to $X per ton, declining by -13.9% against the previous year. Over the period under review, the import price, however, posted prominent growth. The pace of growth was the most pronounced in 2016 when the average import price increased by 64% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then declined in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+28.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :