Philippines: Vulcanised Rubber Mats Market 2024

Vulcanised Rubber Mats Market Size in the Philippines

In 2021, the Philippine vulcanised rubber mats market increased by 24% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption continues to indicate a significant increase. Vulcanised rubber mats consumption peaked in 2021 and is expected to retain growth in the near future.

Vulcanised Rubber Mats Exports

Exports from the Philippines

In 2021, overseas shipments of floor coverings and mats of vulcanised rubber decreased by -58.7% to X tons, falling for the fourth consecutive year after three years of growth. Over the period under review, exports recorded a noticeable contraction. The pace of growth appeared the most rapid in 2017 when exports increased by 654% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, vulcanised rubber mats exports dropped remarkably to $X in 2021. Overall, exports, however, continue to indicate notable growth. The pace of growth appeared the most rapid in 2017 with an increase of 543%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons), the United States (X tons) and the Netherlands (X tons) were the main destinations of vulcanised rubber mats exports from the Philippines, together comprising 97% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +47.8%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) emerged as the key foreign market for floor coverings and mats of vulcanised rubber exports from the Philippines, comprising 58% of total exports. The second position in the ranking was taken by the United States ($X), with a 27% share of total exports. It was followed by the Netherlands, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan stood at +38.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+9.4% per year) and the Netherlands (+33.0% per year).

Export Prices by Country

The average vulcanised rubber mats export price stood at $X per ton in 2021, approximately equating the previous year. Over the period under review, the export price, however, showed buoyant growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 90%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+31.2%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Mats Imports

Imports into the Philippines

In 2021, the amount of floor coverings and mats of vulcanised rubber imported into the Philippines surged to X tons, jumping by 37% compared with the year before. Over the period under review, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 75% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, vulcanised rubber mats imports rose remarkably to $X in 2021. Overall, imports enjoyed a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 131% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) was the main vulcanised rubber mats supplier to the Philippines, accounting for a 95% share of total imports. It was followed by Malaysia (X tons), with a 0.8% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +29.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+3.1% per year) and Taiwan (Chinese) (-3.3% per year).

In value terms, China ($X) constituted the largest supplier of floor coverings and mats of vulcanised rubber to the Philippines, comprising 79% of total imports. The second position in the ranking was held by Malaysia ($X), with a 3.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +30.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+23.5% per year) and Taiwan (Chinese) (+5.7% per year).

Import Prices by Country

The average vulcanised rubber mats import price stood at $X per ton in 2021, with a decrease of -16.8% against the previous year. Overall, the import price saw a slight shrinkage. The pace of growth was the most pronounced in 2016 an increase of 64%. Over the period under review, average import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+19.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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