Philippines: Market for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings 2024

Market Size for Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings in the Philippines

The Philippine market for glaziers putty, grafting putty, other mastics and painters' fillings reached $X in 2022, standing approx. at 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 prominent expansion. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in the immediate term.

Exports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Exports from the Philippines

In 2022, shipments abroad of glaziers putty, grafting putty, other mastics and painters' fillings increased by 221% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 222% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of glaziers putty, grafting putty, other mastics and painters' fillings reached $X in 2022. In general, exports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 169%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Micronesia (X tons) was the main destination for exports of glaziers putty, grafting putty, other mastics and painters' fillings from the Philippines, with a 64% share of total exports. Moreover, exports of glaziers putty, grafting putty, other mastics and painters' fillings to Micronesia exceeded the volume sent to the second major destination, India (X tons), fourfold. The third position in this ranking was taken by Northern Mariana Islands (X tons), with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume to Micronesia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-3.8% per year) and Northern Mariana Islands (0.0% per year).

In value terms, India ($X) emerged as the key foreign market for glaziers putty, grafting putty, other mastics and painters' fillings exports from the Philippines, comprising 42% of total exports. The second position in the ranking was held by Indonesia ($X), with a 20% share of total exports. It was followed by the United Arab Emirates, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to India totaled -6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (-1.8% per year) and the United Arab Emirates (-6.4% per year).

Export Prices by Country

In 2022, the average export price for glaziers putty, grafting putty, other mastics and painters' fillings amounted to $X per ton, waning by -68.4% against the previous year. Overall, the export price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by 51%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Micronesia ($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 the United Arab Emirates (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glaziers Putty, Grafting Putty, Other Mastics and Painters' Fillings

Imports into the Philippines

In 2022, after ten years of growth, there was decline in overseas purchases of glaziers putty, grafting putty, other mastics and painters' fillings, when their volume decreased by -1.9% to X tons. Overall, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 25% against the previous year. As a result, imports reached the peak of X tons, and then dropped in the following year.

In value terms, imports of glaziers putty, grafting putty, other mastics and painters' fillings rose modestly to $X in 2022. Over the period under review, imports, however, showed a prominent expansion. The growth pace was the most rapid in 2018 with an increase of 63% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

China (X tons), Malaysia (X tons) and South Korea (X tons) were the main suppliers of imports of glaziers putty, grafting putty, other mastics and painters' fillings to the Philippines, together accounting for 73% of total imports. Thailand, Germany, the United States, Australia, Indonesia and Singapore lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +38.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Germany ($X) were the largest glaziers, grafting putty and painters' filling suppliers to the Philippines, together comprising 51% of total imports.

Germany, with a CAGR of +41.1%, saw the highest growth rate of the value of imports, in terms of 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 import price for glaziers putty, grafting putty, other mastics and painters' fillings stood at $X per ton in 2022, growing by 5% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for glaziers putty, grafting putty, other mastics and painters' fillings increased by +24.6% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 46% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average 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 Singapore ($X per ton), while the price for Indonesia ($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 (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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