Philippines: Hard Plastic Comb Market 2024

Hard Plastic Comb Market Size in the Philippines

For the third year in a row, the Philippine hard plastic comb market recorded growth in sales value, which increased by 138% to $X in 2022. Over the period under review, consumption posted a significant expansion. Hard plastic comb consumption peaked in 2022 and is expected to retain growth in the immediate term.

Hard Plastic Comb Exports

Exports from the Philippines

In 2022, overseas shipments of hard rubber or plastic combs decreased by -20% to X kg for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports saw a dramatic curtailment. The pace of growth was the most pronounced in 2014 with an increase of 48% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, hard plastic comb exports declined dramatically to $X in 2022. In general, exports continue to indicate a significant decrease. The pace of growth appeared the most rapid in 2014 with an increase of 294% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Micronesia (X kg), the United States (X kg) and Germany (X kg) were the main destinations of hard plastic comb exports from the Philippines, with a combined 15% share of total exports. Brunei Darussalam, Australia, Canada, Brazil, Hong Kong SAR, Fiji, Belgium, France, China and Guam lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brunei Darussalam (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Micronesia ($X) and the United States ($X) constituted the largest markets for hard plastic comb exported from the Philippines worldwide, together accounting for 44% of total exports. Belgium, Brunei Darussalam, Australia, Canada, Brazil, Hong Kong SAR, Fiji, France, China and Guam lagged somewhat behind, together comprising a further 4%.

Among the main countries of destination, Brunei Darussalam, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average hard plastic comb export price stood at $X per ton in 2022, which is down by -35.3% against the previous year. Over the period under review, the export price showed a perceptible decline. The most prominent rate of growth was recorded in 2014 an increase of 167% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then reduced sharply in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to China ($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 Micronesia (+18.0%), while the prices for the other major destinations experienced more modest paces of growth.

Hard Plastic Comb Imports

Imports into the Philippines

For the third year in a row, the Philippines recorded growth in supplies from abroad of hard rubber or plastic combs, which increased by 160% to X tons in 2022. Over the period under review, imports posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 409% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, hard plastic comb imports soared to $X in 2022. In general, imports saw a significant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 197%. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X tons) was the main supplier of hard plastic comb to the Philippines, accounting for a 100% share of total imports. It was followed by Thailand (X tons), with a 0.1% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +22.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-15.4% per year) and Hong Kong SAR (-25.1% per year).

In value terms, China ($X) constituted the largest supplier of hard rubber or plastic combs to the Philippines, comprising 98% of total imports. The second position in the ranking was held by Thailand ($X), with a 0.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +35.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+6.8% per year) and Hong Kong SAR (-21.6% per year).

Import Prices by Country

In 2022, the average hard plastic comb import price amounted to $X per ton, which is down by -12.1% against the previous year. Over the period under review, the import price, however, enjoyed prominent growth. The growth pace was the most rapid in 2020 an increase of 76%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

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 Thailand ($X per ton), while the price for Hong Kong SAR ($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 (+26.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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