Philippines: Market for Glass in The Mass 2024

Market Size for Glass in The Mass in the Philippines

In 2022, the Philippine glass in the mass market increased by 0.2% to $X, rising for the fourth consecutive year after five years of decline. Overall, consumption, however, continues to indicate temperate growth. Over the period under review, the market attained the peak level at $X in 2013; afterwards, it flattened through to 2022.

Production of Glass in The Mass in the Philippines

In value terms, glass in the mass production rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 6.8%. As a result, production reached the peak level of $X; afterwards, it flattened through to 2022.

Exports of Glass in The Mass

Exports from the Philippines

After four years of decline, overseas shipments of glass in the mass increased by 4.2% to X tons in 2022. In general, exports, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2017 with an increase of 327% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, glass in the mass exports surged to $X in 2022. Overall, exports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2017 with an increase of 267% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for glass in the mass exports from the Philippines, accounting for a 70% share of total exports. Moreover, glass in the mass exports to China exceeded the volume sent to the second major destination, Thailand (X tons), threefold. The third position in this ranking was taken by South Korea (X tons), with a 3.2% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled +193.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-19.8% per year) and South Korea (-4.3% per year).

In value terms, China ($X) remains the key foreign market for glass in the mass exports from the Philippines, comprising 87% of total exports. The second position in the ranking was taken by Thailand ($X), with a 9.8% share of total exports. It was followed by South Korea, with a 1.6% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to +158.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-13.6% per year) and South Korea (+8.7% per year).

Export Prices by Country

In 2022, the average glass in the mass export price amounted to $X per ton, surging by 151% against the previous year. Overall, the export price showed resilient growth. The pace of growth was the most pronounced in 2020 when the average export price increased by 323% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the immediate term.

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 China ($X per ton), while the average price for exports to Malaysia ($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 South Korea (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass in The Mass

Imports into the Philippines

In 2022, approx. X tons of glass in the mass were imported into the Philippines; reducing by -19.8% on the previous year's figure. In general, imports continue to indicate a dramatic slump. The most prominent rate of growth was recorded in 2017 with an increase of 88%. Over the period under review, glass in mass imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, glass in the mass imports contracted rapidly to $X in 2022. Over the period under review, imports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2017 with an increase of 160% against the previous year. Over the period under review, glass in mass imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Japan (X tons) was the main glass in the mass supplier to the Philippines, accounting for a 94% share of total imports. Moreover, glass in the mass imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Japan totaled -13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-39.9% per year) and Thailand (-77.4% per year).

In value terms, Japan ($X) constituted the largest supplier of glass in the mass to the Philippines, comprising 93% of total imports. The second position in the ranking was taken by China ($X), with a 6.6% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Japan amounted to -10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-32.4% per year) and Thailand (-65.0% per year).

Import Prices by Country

The average glass in the mass import price stood at $X per ton in 2022, growing by 2.9% against the previous year. In general, the import price saw a remarkable increase. The pace of growth appeared the most rapid in 2015 an increase of 99% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+54.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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