Philippines: Market for Floor, Wall Or Ceiling Coverings Of Plastics 2025

Market Size for Floor, Wall Or Ceiling Coverings Of Plastics in the Philippines

The Philippine market for floor, wall or ceiling coverings of plastics expanded modestly to $X in 2022, picking up by 2.8% 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, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +37.0% against 2020 indices. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Exports of Floor, Wall Or Ceiling Coverings Of Plastics

Exports from the Philippines

In 2022, shipments abroad of floor, wall or ceiling coverings of plastics increased by 39% to X square meters, rising for the fourth year in a row after two years of decline. In general, exports posted a strong increase. The growth pace was the most rapid in 2013 with an increase of 643%. Over the period under review, the exports of attained the maximum at X square meters in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, exports of floor, wall or ceiling coverings of plastics contracted to $X in 2022. Over the period under review, exports posted strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 396% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X square meters) was the main destination for exports of floor, wall or ceiling coverings of plastics from the Philippines, with a 57% share of total exports. Moreover, exports of floor, wall or ceiling coverings of plastics to Japan exceeded the volume sent to the second major destination, Canada (X square meters), twofold. Sierra Leone (X square meters) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to +10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+6,743.2% per year) and Sierra Leone (0.0% per year).

In value terms, Japan ($X) remains the key foreign market for floor, wall or ceiling coverings of plastics exports from the Philippines, comprising 88% of total exports. The second position in the ranking was taken by Canada ($X), with a 5.9% share of total exports. It was followed by Sierra Leone, with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan totaled +15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+1,705.8% per year) and Sierra Leone (0.0% per year).

Export Prices by Country

In 2022, the average export price for floor, wall or ceiling coverings of plastics amounted to $X per square meter, dropping by -36.1% against the previous year. In general, the export price, however, posted a noticeable expansion. The pace of growth was the most pronounced in 2018 an increase of 743% against the previous year. As a result, the export price attained the peak level of $X per square meter. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per square meter), while the average price for exports to Sierra Leone ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+38.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Floor, Wall Or Ceiling Coverings Of Plastics

Imports into the Philippines

In 2022, approx. X square meters of floor, wall or ceiling coverings of plastics were imported into the Philippines; stabilizing at the previous year's figure. Over the period under review, total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.0% against 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of 62% against the previous year. As a result, imports attained the peak of X square meters. From 2017 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of floor, wall or ceiling coverings of plastics stood at $X in 2022. Overall, total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +36.2% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 61%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, China (X square meters) constituted the largest supplier of plastic floor, wall and ceiling coverings to the Philippines, accounting for a 83% share of total imports. Moreover, imports of floor, wall or ceiling coverings of plastics from China exceeded the figures recorded by the second-largest supplier, South Korea (X square meters), more than tenfold. Thailand (X square meters) ranked third in terms of total imports with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-0.2% per year) and Thailand (-6.0% per year).

In value terms, China ($X) constituted the largest supplier of floor, wall or ceiling coverings of plastics to the Philippines, comprising 59% of total imports. The second position in the ranking was taken by Japan ($X), with a 12% share of total imports. It was followed by South Korea, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+12.4% per year) and South Korea (+2.5% per year).

Import Prices by Country

In 2022, the average import price for floor, wall or ceiling coverings of plastics amounted to $X per square meter, growing by 3.7% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 31% against the previous year. Over the period under review, average import prices hit record highs at $X per square meter in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 Japan ($X per square meter), while the price for Thailand ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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