Philippines: Market for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) 2025

Market Size for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in the Philippines

The Philippine market for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) rose notably to $X in 2021, surging by 7.8% against the previous year. Overall, consumption, however, showed a noticeable downturn. Consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in the Philippines

In value terms, LCD or LED indicator panel production expanded sharply to $X in 2021 estimated in export price. In general, production recorded a temperate increase. The pace of growth appeared the most rapid in 2015 with an increase of 47%. Production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Exports from the Philippines

In 2021, exports of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) from the Philippines soared to X units, picking up by 85% on 2020 figures. In general, exports, however, recorded a significant curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 3,980% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, LCD or LED indicator panel exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a sharp decrease. The growth pace was the most rapid in 2017 when exports increased by 4,869%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X units) was the main destination for LCD or LED indicator panel exports from the Philippines, accounting for a 60% share of total exports. Moreover, LCD or LED indicator panel exports to Hong Kong SAR exceeded the volume sent to the second major destination, China (X units), fourfold. Japan (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Hong Kong SAR stood at -32.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-40.0% per year) and Japan (-43.6% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for LCD or LED indicator panel exports from the Philippines, comprising 73% of total exports. The second position in the ranking was taken by China ($X), with a 17% share of total exports. It was followed by Japan, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value to Hong Kong SAR stood at -36.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-48.1% per year) and Japan (-49.6% per year).

Export Prices by Country

The average export price for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) stood at $X per unit in 2021, therefore, remained relatively stable against the previous year. Over the period under review, the export price, however, continues to indicate a deep slump. The growth pace was the most rapid in 2016 when the average export price increased by 102%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was China ($X per unit), while the average price for exports to Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+3.7%), while the prices for the other major destinations experienced a decline.

Imports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Imports into the Philippines

In 2021, approx. X units of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) were imported into the Philippines; with an increase of 12% compared with the previous year. In general, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 518%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, LCD or LED indicator panel imports declined dramatically to $X in 2021. Overall, imports posted significant growth. The pace of growth appeared the most rapid in 2015 when imports increased by 1,761% against the previous year. Imports peaked at $X in 2020, and then shrank dramatically in the following year.

Imports by Country

China (X units), Hong Kong SAR (X units) and Japan (X units) were the main suppliers of LCD or LED indicator panel imports to the Philippines, together accounting for 94% of total imports.

From 2012 to 2021, the biggest increases were in Japan (with a CAGR of +117.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of LCD or LED indicator panel to the Philippines, comprising 83% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 7.2% share of total imports. It was followed by the United States, with a 4.6% share.

From 2012 to 2021, the average annual growth rate of value from Japan amounted to +138.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+29.0% per year) and the United States (+53.0% per year).

Import Prices by Country

The average import price for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) stood at $X per unit in 2021, dropping by -50.5% against the previous year. Over the period under review, the import price, however, enjoyed strong growth. The pace of growth was the most pronounced in 2015 when the average import price increased by 201% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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