Philippines: Flexographic Printing Machinery Market 2024

Flexographic Printing Machinery Market Size in the Philippines

The Philippine flexographic printing machinery market surged to $X in 2022, picking up by 108% 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, however, posted a measured expansion. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Flexographic Printing Machinery Exports

Exports from the Philippines

In 2018, flexographic printing machinery exports from the Philippines shrank sharply to X units, reducing by -96.8% against 2017. In general, exports saw a precipitous slump. The exports peaked at X units in 2017, and then shrank markedly in the following year.

In value terms, flexographic printing machinery exports surged to $X in 2018. Over the period under review, total exports indicated a significant increase from 2017 to 2018: its value increased at an average annual rate of +49.2% over the last one years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X units), Malaysia (X units) and Taiwan (Chinese) (X units) were the main destinations of flexographic printing machinery exports from the Philippines. Moreover, flexographic printing machinery exports in the UK exceeded the figures recorded by the second-largest exporter, Malaysia, twofold.

From 2017 to 2018, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of -66.7%), while the other leaders experienced a decline.

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for flexographic printing machinery exports from the Philippines, comprising 68% of total exports. The second position in the ranking was held by the UK ($X), with a 27% share of total exports.

From 2017 to 2018, the average annual growth rate of value to Taiwan (Chinese) stood at +628.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+306.3% per year) and Malaysia (+284.7% per year).

Export Prices by Country

The average flexographic printing machinery export price stood at $X per unit in 2018, jumping by 4,563% against the previous year. Overall, the export price showed a significant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2018, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the average price for exports to Malaysia ($X per unit) was amongst the lowest.

From 2017 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+20,619.6%), while the prices for the other major destinations experienced more modest paces of growth.

Flexographic Printing Machinery Imports

Imports into the Philippines

In 2022, overseas purchases of flexographic printing machinery decreased by -2.5% to X units, falling for the second year in a row after two years of growth. Overall, imports showed a abrupt slump. The pace of growth was the most pronounced in 2020 with an increase of 362%. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, flexographic printing machinery imports surged to $X in 2022. Over the period under review, imports, however, enjoyed a mild increase. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Australia (X units) constituted the largest flexographic printing machinery supplier to the Philippines, with a 69% share of total imports. Moreover, flexographic printing machinery imports from Australia exceeded the figures recorded by the second-largest supplier, Italy (X units), fivefold. Taiwan (Chinese) (X units) ranked third in terms of total imports with a 6.9% share.

From 2017 to 2022, the average annual rate of growth in terms of volume from Australia totaled +61.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+26.5% per year) and Taiwan (Chinese) (-9.3% per year).

In value terms, Australia ($X), China ($X) and Japan ($X) constituted the largest flexographic printing machinery suppliers to the Philippines, together accounting for 52% of total imports.

Japan, with a CAGR of +49.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average flexographic printing machinery import price stood at $X per unit in 2022, jumping by 114% against the previous year. Overall, the import price enjoyed prominent growth. The pace of growth appeared the most rapid in 2021 when the average import price increased by 374%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+941.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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