Philippines: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in the Philippines

The Philippine glass fibre and article market rose markedly to $X in 2022, picking up by X% 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, enjoyed a resilient expansion. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports from the Philippines

In 2022, glass fibre and article exports from the Philippines reduced sharply to X tons, with a decrease of X% against the previous year's figure. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass fibre and article exports shrank remarkably to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum 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 glass fibre and article exports from the Philippines, with a X% share of total exports. Moreover, glass fibre and article exports to Japan exceeded the volume sent to the second major destination, Pakistan (X tons), fivefold. Vietnam (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (X% per year) and Vietnam (X% per year).

In value terms, Japan ($X) remains the key foreign market for glass fibres and glass fibre articles exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports. It was followed by Pakistan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Pakistan (X% per year).

Export Prices by Country

The average glass fibre and article export price stood at $X per ton in 2022, falling by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of X% against the previous year. The export price peaked at $X per ton in 2021, and then contracted remarkably in the following year.

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

Imports of Glass Fibres and Glass Fibre Articles

Imports into the Philippines

In 2022, approx. X tons of glass fibres and glass fibre articles were imported into the Philippines; with a decrease of X% on 2021. Overall, total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, glass fibre and article imports amounted to $X in 2022. In general, imports, however, recorded strong growth. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest glass fibre and article supplier to the Philippines, with a X% share of total imports. Moreover, glass fibre and article imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. The third position in this ranking was held by South Korea (X tons), with a X% share.

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

In value terms, China ($X) constituted the largest supplier of glass fibres and glass fibre articles to the Philippines, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Malaysia (X% per year).

Import Prices by Country

The average glass fibre and article import price stood at $X per ton in 2022, jumping by X% against the previous year. Overall, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass fibre and article import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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