Philippines: Market for Flexible Tubes, Pipes and Hoses of Plastics, without Fittings 2024

Market Size for Flexible Tubes, Pipes and Hoses of Plastics, without Fittings in the Philippines

The Philippine market for flexible tubes, pipes and hoses of plastics, without fittings reached $X in 2022, approximately reflecting the previous year. Over the period under review, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.9% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Flexible Tubes, Pipes and Hoses of Plastics, without Fittings in the Philippines

In value terms, production of flexible tubes, pipes and hoses of plastics, without fittings amounted to $X in 2022 estimated in export price. Overall, the total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.3% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 50%. Over the period under review, production of reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Flexible Tubes, Pipes and Hoses of Plastics, without Fittings

Exports from the Philippines

In 2022, overseas shipments of flexible tubes, pipes and hoses of plastics, without fittings increased by 66% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 2,384% against the previous year. Over the period under review, the exports of reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, exports of flexible tubes, pipes and hoses of plastics, without fittings surged to $X in 2022. In general, exports saw buoyant growth. The pace of growth was the most pronounced in 2017 when exports increased by 4,432% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for exports of flexible tubes, pipes and hoses of plastics, without fittings from the Philippines, accounting for a 83% share of total exports. Moreover, exports of flexible tubes, pipes and hoses of plastics, without fittings to Japan exceeded the volume sent to the second major destination, Indonesia (X tons), sixfold. The third position in this ranking was held by South Korea (X tons), with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan totaled +64.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+29.7% per year) and South Korea (+5.0% per year).

In value terms, Japan ($X) remains the key foreign market for flexible tubes, pipes and hoses of plastics, without fittings exports from the Philippines, comprising 82% of total exports. The second position in the ranking was held by Indonesia ($X), with an 11% share of total exports. It was followed by South Korea, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan totaled +40.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+22.3% per year) and South Korea (+3.5% per year).

Export Prices by Country

In 2022, the average export price for flexible tubes, pipes and hoses of plastics, without fittings amounted to $X per ton, falling by -6.7% against the previous year. In general, the export price continues to indicate a abrupt slump. The growth pace was the most rapid in 2017 an increase of 4,006% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Indonesia ($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 Saudi Arabia (+34,755.9%), while the prices for the other major destinations experienced a decline.

Imports of Flexible Tubes, Pipes and Hoses of Plastics, without Fittings

Imports into the Philippines

In 2022, approx. X tons of flexible tubes, pipes and hoses of plastics, without fittings were imported into the Philippines; shrinking by -39.2% on 2021 figures. Overall, imports continue to indicate a slight shrinkage. The growth pace was the most rapid in 2016 when imports increased by 103%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, imports of flexible tubes, pipes and hoses of plastics, without fittings shrank remarkably to $X in 2022. In general, imports recorded a slight decline. The growth pace was the most rapid in 2021 with an increase of 66% against the previous year. As a result, imports attained the peak of $X, and then fell rapidly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest flexible tubes, pipes and hoses of plastics, without fittings supplier to the Philippines, accounting for a 46% share of total imports. Moreover, imports of flexible tubes, pipes and hoses of plastics, without fittings from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. Japan (X tons) ranked third in terms of total imports with a 20% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-8.6% per year) and Japan (+7.9% per year).

In value terms, Spain ($X), China ($X) and Japan ($X) appeared to be the largest flexible tubes, pipes and hoses of plastics, without fittings suppliers to the Philippines, together comprising 84% of total imports. The United States and South Korea lagged somewhat behind, together accounting for a further 4.4%.

In terms of the main suppliers, South Korea, with a CAGR of +38.2%, saw 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

The average import price for flexible tubes, pipes and hoses of plastics, without fittings stood at $X per ton in 2022, waning by -9.5% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 50% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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